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Thursday, 09 November 2017 05:56

Technology Board Changes: Cisco, PayPal, Intuit, AthenaHealth & Hubspot Featured

Written by Dora Vell
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What were the important tech board changes in the most recent couple of months? This leadership report covers tech board changes from 8/26 to 10/29 in 2017.  

We have three categories, roughly organized by company size. Industries/ categories per CapIQ classifications.

  • The Giants ($100b+ market cap): Microsoft, Samsung, Intel, Cisco
  • The Software Companies: Paypal, Salesforce, Intuit, eBay, RedHat, ServiceNow, Twitter, Square, Citrix, Splunk, Fortinet, FireEye and any others.
  • Others (Telecom, Hardware, Services, Payments): HP, Inc., Infosys, Ericsson, TSYS, Micro-Semi, TSYS, FLIR, Cypress Semi., Cree, Convergys, Blackhawk Networks, Boingo, ScanSource and others.

Some basic stats:

19.7% of the new board seats went to women;
15.6% of the board seats removed were women held seats.

Primary functional expertise of Board Members appointed & resigned:

  1. CEOs, as expected; followed by CFOs, and then by President/ COOs and General Managers of divisions.
  2. Investors, including Activists (not counting their representatives), Chief Investment Officers, Venture Capital
  3. CTOs/ Engineering/ CIOs and Chief Revenue Officers were next
  4. A smattering of: General Counsel, Strategy and BD, Product Management, SVP, Innovation, CMO, Chief Medical Officer, and Executive Search

Diversity All-Stars*

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* 2 or more women appointed in the  past two months

Shout out to Hubspot, now with three women on board! 

We welcome your comments, questions, and also trends you may have observed. 

Thanks again and all the best, 

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Managing Partner, Vell Executive Search

Veteran recruiters for Tech board members and C level executives 

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Tech Giants

Microsoft Board Shuffles
  • Activist Investor D. Mason Morfit, 41, ValueAct Capital’s President and Chief Investment Officer, will not seek re-election to Microsoft’s board. After five years on the board, ValueAct realized a sizable profit through Microsoft share price gains.
  • Hugh Johnston, 55, vice chairman and CFO of PepsiCo, joins as Director, as he leaves Twitter’s board.
Samsung Electronics announced that CEO, Vice Chairman and Board Member will Resign 
Samsung Electronics announced that CEO, Vice Chairman and head of hugely successful components business Oh-Hyun Kwon plans to resign as the company’s head of the Device Solutions Business and CEO of Samsung Display and will not seek re-election to the Board when his term ends in March, 2018.
Intel Appoints EA CEO to Board:  Intel elected Andrew Wilson, 43, CEO of Electronic Arts, to board. Cisco’s Chair and CEO roles get Combined, as Chambers Steps off Board:  Executive Chairman John Chambers, 68, not to stand for re-election to Cisco’s Board. CEO-Chair Roles Combined. The Board plans to appoint Cisco CEO Chuck Robbins, 49, to serve as chairman when Chambers' term expires in December 2017. 


The Software Companies

PayPal Appoints xIBM Engineering Powerhouse to Board - PayPal Appoints Rodney C. Adkins, 58, former Senior Software Development exec at IBM, as Board Member. Salesforce Appoints Healthcare Exec:  Salesforce gets influential health care exec, Bernard J. Tyson, 58, chairman and CEO of Kaiser Permanente, on board.
Intuit Replaces Diane Greene with Thomas Szkutak. Former Amazon CFO Thomas Szkutak, 56, to stand for election to Intuit’s Board. Diane B. Greene, 62, founder and former CEO of VMware decided to step down from the Board of Intuit.
eBay appoints Adriane Brown and Diana Farrell to its Board. Ms. Brown, 59,  is former CEO, Honeywell Transportation Systems. Ms. Farrell, 59,  is the Founding President and CEO at JPMorgan Chase Institute, a global think tank and former McKinsey.
ServiceNow Loses Board Member - Charles Giancarlo, 60, resigns as ServiceNow Director, in connection with his appointment as CEO of Pure Storage. Former Avaya CEO. 
Red Hat Promotes Board Member to Chairman.  Dr. Narendra K. Gupta, 68, board member since 2005 as Chairman. Dr. Gupta is co-founder of Nexus Venture Capital, and former CEO of several companies. Succeeds retired U.S. Army Gen. H. Hugh Shelton, 75, who retired.
Twitter’s New Board Member is xGoogle CFO: Micro-blogging company Twitter named Patrick Pichette, 54, xCFO of Google, as new Board Member. 
HP Enterprise Spin-Off  of Micro-Focus & Merger with HPE’s Software Results in Board Changes
John Schultz, EVP, General Counsel and Corporate Secretary of HPE, joined the board of directors of Micro Focus.
Goldman Sachs veteran Lawton Wehle Fitt joined as a non-executive director.
Chris Hsu, formerly COO of HPE and EVP and General Manager of HPE Software, was appointed CEO of Micro Focus and an executive director of Micro Focus with effect from Completion.
Stephen Murdoch (the former Chief Executive Officer of Micro Focus) has stepped down from the Board and has become the Chief Operating Officer of Micro Focus with effect from Completion.
Square Appoints AI Guru &  Intel Exec to Board: Naveen Rao, Corporate VP and GM of the Artificial Intelligence Products Group at Intel, joins Square’s Board. 
Citrix Systems elected Dr. Ajei S. Gopal, 55, President and CEO for  engineering simulation & 3D Design software, ANSYS, to board.
Splunk Appoints Couple of New Directors: Sara Baack, 45, CMO of Equinix, and Elisa Steele, 50, former CEO and president of Jive Software, joins Splunk’s Board. 
Video Games Publisher Ubisoft’s Board Gets New Members: France based video games publisher Ubisoft Entertainment named Corinne Fernandez-Handelsman, 55, Executive Search and HR Consulting professional, and Virginie Haas, Chief Revenue Officer at Shift Technology, to the Board.
Cyber Software Fortinet Appoints AWS founding member: Fortinet Appoints Peter Cohen, founding member of Amazon Web Services, to its Board.                                                                                                                            
athenahealth appointed Brian McKeon, 55, current CFO of IDEXX Laboratories, to its Board. 
HubSpot named Jill Ward, 57, most recently President, COO, and CEO-elect of Fleetmatics, as director.  Larry Bohn, 66, Managing Director at General Catalyst and an early investor in HubSpot, vacates his board seat at HubSpot.
Customer service software company Zendesk named Hilarie Koplow-McAdams, 53, CRO at New Relic, to its Board. 
Analytics Software Verint Combines Chair-CEO Roles after Chairman’s Demise. Verint Announces the Passing of Chairman, Victor DeMarines, at the age of 80. The board unanimously appointed CEO Dan Bodner, 57, as Chairman. Board member and xEMC exec, John Egan, 59, will serve as Lead Independent Director.
Uber Technologies’ newest CEO Dara Khosrowshahi stepped down from the board of Trivago, the hotel-search subsidiary of Expedia. The new uber CEO also resigned from the New York Times board.
Former ADC CEO Robert Switz, 71, has been appointed to  Cyber-Security Software Provider FireEye’s board. Tesla CFO Deepak Ahuja, 54, notified FireEye of his decision to resign from the Board.
Kevin Thompson, 52, CEO of SolarWinds, has joined accounting SaaS company BlackLine's board of directors.
comScore settles lawsuit with shareholder and activist hedge fund Starboard Value & Adjusts Board:
The board had increased from 7 to 12 in June 2017 and then again dropped most recently.
New Directors & CEO 2018 retirement:
  • Wesley Nichols, 52,  was most recently SVP of Strategy at NueStar.
  • Paul Reilly, 60,  former CFO & EVP, Arrow Electronics.
  • Bryan Wiener, 47,  is current executive chairman and former CEO of digital marketing agency 360i.
  • Michelle McKenna-Doyle, 51,  is currently SVP and CIO at the National Football League.
  • Co-Founder and CEO Dr. Gian Fulgoni, 69, intends to retire as CEO in January 2018. He will take on an advisory Chairman Emeritus role.
Resigning from the board most recently:
  • William Engel, 69, xSVP Innovation, Experian
  • Russell Fradin, 40, digital media industry veteran and CEO.
  • Lisa Gersh,  former CEO of Goop, Inc., CEO of Martha Stewart Living Omnimedia and co-founder and President of Oxygen Media. (appointed June 2017)
  • Mark Harris, CFO of Hercules Capital, Inc (appointed June 2017)
  • William Henderson, 70,  xCOO Netflix and xCEO, USPS
  • Ronald Korn, 77, xKPMG and experienced director
  • Joshua Peirez, President and COO of The Dun & Bradstreet (appointed June 2017)
Charles Giancarlo,  60, resigns the cybersecurity solutions Imperva’s Director, in connection with his appointment as CEO of Pure Storage. 
AVEVA and Schneider Electric Industrial Software Merger.   AVEVA, a leader in design software solutions for process plant, power generation and marine giant merges with Schneider software, which has a bigger presence in sectors such as food and beverages and pharmaceuticals.Philip Aiken will continue as Non-Executive Chairman following completion. Jennifer Allerton, Christopher Humphrey and Ron Mobed will continue as independent Non-Executive directors. Emmanuel Babeau, Deputy CEO & CFO, and Peter Herweck, EVP, Industry of Schneider Electric will be appointed as Non-Executive directors. Emmanuel Babeau will additionally assume the role of Vice-Chairman.
Knowledge engine platform provider Yext named Tamar Yehoshua, 52, Google's VP of Product Management for Search, to its Board.
Healthcare Info Company Castlight Health Acquires Digital Health Leader, Jiff & Results in Board changes
  • Castlight Health co-founder and executive chairperson Dr. Giovanni M. Colella and Jiff co-founder James Currier both stepped down
  • Dr. Bryan Roberts, currently serving as lead independent director, assumed the chairperson role
  • Seth Cohen, an experienced senior sales leader at Castlight, will be joining the board.
MobileIron, a world leader in MDM and enterprise mobility services, promoted CFO Simon Biddiscombe, 50, to President, CEO, and member of the board.
Strategy & corporate development leader Richard Walker, 53, and finance and accounting leader Madhu Ranganathan, C.P.A., 52, joined  ServiceSource’s board.  Steven Cakebread, 65, long term xCFO, Salesforce, will  depart from ServiceSource’s board in December this year.
Hootsuite appoints couple of directors to bring strategic and operational guidance: Sara Clemens, 45, previously COO at Pandora Media, and Shahrzad Rafati, Founder and CEO of BroadbandTV.
Cloud-based Internet threat detection solutions firm Webroot has named Mike Potts as CEO and Director. Potts succeeds Dick Williams, 73, who will retire as the company's CEO and continue as a member of the Board.
Perfecto, the cloud based platform for web, mobile, and IoT testing, named Jim Moran as Exec Chair. Most recently, MD at North Bridge Venture & Growth Equity Partners.


The Others

HP, Inc. Carl Bass, 60,  Former president and CEO of Autodesk, will be stepping down HP’s board. Meg Whitman had stepped down earlier in July.
Infosys Promotes Board Member to Chairman. Mr. D. N. Prahlad , Founder and CEO of fintech Surya Software, was named Chairman of InfoSys.
Ericsson has a new Chairman & Board changes: Ericsson has chosen Mr. Ronnie Leten, 61, former President & CEO of Atlas Copco as new Chairman. The Nomination Committee will also propose Kurt Jofs as new member of the Board. Jofs was responsible for Ericsson’s Networks business 2003-2008 and is currently the Chairman of the Board in Tieto.  Ms. Kristin Skogen Lund, 51, has notified the Nomination Committee that she will not be available for re-election. Kristin Skogen Lund is the Director general of the Confederation of Norwegian Enterprise.
Payment processing company, TSYS elected Thaddeus Arroyo, 53, CEO of AT&T Business and Richard A. Smith, 63, Chairman, CEO and President of Realogy Holdings Corp, as Directors. The appointments bring the number of TSYS directors to 12. TSYS announced that Pamela Joseph has resigned as President and Chief Operating Officer, and as a member of its Board of Directors, effective September 30, 2017. M. Troy Woods will assume the additional role of TSYS President and the heads of the company's three business segments will report directly to him. TSYS also announced that Woods has committed to remain Chief Executive Officer of the company at least through the end of 2020.
FLIR Systems Gets Director with Experience in Public Policy, Regulatory Affairs, and National Defense: Sensor systems provider FLIR Systems elected Pentagon and Capitol Hill veteran, Robert S. Tyrer, Co-President of The Cohen Group, to its Board of Directors.
Microsemi Names Richard M. Beyer to Board. Former chairman and CEO of Freescale Semiconductor Richard M. Beyer joins analog and mixed-signal semiconductor solutions company Microsemi’s board.
Logitech Nominates Two New Directors to Board: Logitech International S.A. nominated Wendy Becker, former CEO of Jack Wills, and Neela Montgomery, future CEO of Crate and Barrel, to the board.
Cypress Semiconductor Names Former Delphi CTO and Tech Investor/Advisor to Board: Cypress Semiconductor named Jeffrey J. Owens, retired CTO at Delphi Automotive, and VC Catherine P. Lego, 60, tech investor and advisor, as board members.
LED Manufacturer Cree’s CEO Change & Lead Director Appointed Chairman.
  • Coincident with CEO change, Robert Ingram, 74, current board member and lead independent director of Cree, will assume the position of chairman.
  • Cree also appointed Gregg Lowe, 54, former CEO of Freescale Semiconductor, as president and CEO and to the board of directors. Lowe succeeds Chuck Swoboda, 50, per the transition plan.
Convergys named Robert E. Knowling, Jr., 62, to its board. He is currently Chairman of Eagles Landing Partners. During his career, Mr. Knowling has served as Chief Executive Officer of Telwares, a provider of telecommunications expense management solutions; Chief Executive Officer of the New York City Leadership Academy, an independent nonprofit corporation created by Chancellor Joel I. Klein and Mayor Michael R. Bloomberg to develop the next generation of principals in the New York City public school system; Chairman and Chief Executive Officer of SimDesk Technologies, Inc., and Chairman, President and Chief Executive Officer of Covad Communications. Mr. Knowling currently serves on the board of directors of Roper Technologies Inc. (NYSE: ROP), a diversified technology company.
Blackhawk Network Holdings’ director Jeffrey H. Fox, 55, resigned from the Board,  as he was just appointed CEO at Endurance International.
ScanSource named Elizabeth O. “Betty” Temple, 52, to its Board. Current Chair and CEO of Womble Carlyle Sandridge & Rice. She is a practicing corporate and securities attorney.
Healthcare delivery and payment solutions,Evolent Health elected Dr. Bridget Duffy, 57, Chief Medical Officer of Vocera, as director.
Boingo Wireless accepted David Cutrer's, 47, conditional resignation from the Board. CEO at Kumu Networks. Mr. Curter had been appointed in June 2017 by activist investor Legion Investors, and was deemed to have resigned after Legion’s ownership dropped below a certain threshold.
Memory solutions company SMART Global Holdings named Randy W.  Furr, 63, EVP and CFO of Bloom Energy, to its board of directors.
Paris based Digital Local Communication Services Provider SoLocal Group Gets New Chair, New CEO. 
  • Pierre Danon, 61, was appointed as Chairman. Mr Pierre Danon has held positions of Chief Executive Officer and member of Boards of Directors, in particular as Chairman of Xerox Europe, Chief Executive Director of Bristish Telecom Retail.
  • Former Chairman Robert de Metz, 65, is leaving the board.
  • Jean-Marc Tassetto, xChief Executive Officer and Head of French Operations at Google France SARL, also resigned
  • Eric Boustouller joined the company as CEO. Prior to this, he was Corporate Vice President of Microsoft Corporation and Western Europe area Vice President of Microsoft since 2012.
U.S. Global Investors Makes Strategic Investment in HIVE Blockchain Technologies. Frank Holmes, 62, CEO and chief investment officer at U.S. Global Investors, became non-executive chairman at the cryptocurrency mining firm. Harry Pokrandt will serve as President, CEO and Director of HIVE, while Marco Streng, co-founder and CEO of Genesis Group, will be an advisor to HIVE. Joining Frank Holmes and Harry Pokrandt on the Board of Directors are investor and Blockchain experts: Bjoern Arzt, Tobias Ebel and Olivier Roussy Newton.
Electro Scientific Industries is  an innovator in laser-based manufacturing solutions for the micro-machining industry and announced the following changes:
  • Board member, John Medica, passed away on October 13, 2017, at the age of 58. He had a career as a product development exec at Apple & Dell amongst others.
  • Lynne Camp joined as a new member of the company’s Board. For 15 years she served as Vice President and General Manager of global businesses at Hewlett-Packard, Agilent Technologies, Tektronix and Danaher Corporation. 
Mitek appointed Jane J. Thompson, 65, founder and former President of Walmart Financial Services, to its Board. Vinton Cunningham, 80, intends to retire from Mitek’s Board. Former CFO of EdVision Corporation.
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