- Tech Hot Topics: Machine Learning, Artificial Intelligence, IoT, Blockchain, Robotics, AR/VR and Sports/eSports.
- Consumer Experience and Disruptive User Experience
- Data Protection, Privacy and Security
Chairmen/ CEOs/ Lead Director Appointments
- No company split the Chairman/ CEO roles: a few combined the roles.
- Most Chairmen were internal promotions except for Ericsson (due to an activist investor) and Cerner (who hired a Chair/CEO).
- Six of Ten CEO appointments were internal promotions (note: we are tracking the bigger companies, who by definition have more bench).
- All appointed Chairmen were men;
- 2 of 4 Lead Directors were women.
By the Numbers
- 60 new (non Chairman/internal CEOs) appointments. 28% of these were women.
- 48 (non Chairman/internal CEOs) resignations. 23% of these were women.
Appointments by function:
- One third are (as expected) external CEOs
- 13% each CFOs, Tech Function (CIO/CTO/CISO)
- 10% investors
Resignations by Function:
- 41.7% were external CEOs
- 16.7% were CFOs and Tech Function
- 12.5% investors
Net new gains/losses by function and gender:
- Surprisingly, by the numbers, we have gained and lost the same number (absolute number) of external CEOs, Presidents, CFOs, Investors.
- The 12 additional board members were in "Other functions: including Academic, Government / Non-Profit and Other.
- Net gains by gender: six more men and six more women appointed.
In our prior edition, we highlight the trends overall as well as the Mammoth companies as well as companies that have had big re-organizations.
Prior Edition: Part One - Trends in Exec and Board Leadership Changes in Tech Companies ( posted on our blog or on our )
- Tech Hot Topics
- Consumer Experience and Disruptive User Desig
- Data Protection and Privacy
- Mammoth Tech Companies Leadership Updates
- The Big Re-Orgs in Tech
We welcome any feedback and insights you may have.
All the best,
Board Trends - Summary
Three companies combined the Chairman / CEO roles (all men) and none split the Chairman and CEO roles: FIS, Vantiv and Cerner. Cerner hired a Chair/CEO externally, which is a very rare occurrence.The New Chairmen:
- All Chairman successions are companies where the role is split and remains split: Alphabet, Akamai, ServiceNow and five others. Ericsson hired a new
Chairmen/ Lead Directors are Mostly Existing Board Members:
- Most Chairman nominations are existing board members, except for Ericsson (which hired a Chairman) and Cerner (who hired a Chair/CEO). Ericsson’s board moves were pushed by an activist investor, unhappy with Ericsson’s progress to date.
- All Lead Directors are existing board members.
No Gender Diversity in New Chairmen:
- 2 of the 4 New Lead Directors are Women
- All new Chairmen (and outgoing ones) are men.
- Two of the four named Lead Directors are women.
- Six were internally sourced from COO, President of division, or former CFOs
- Four were externally hired, including Cerner’s Chairman and CEO
- All but Cerner are named CEO, but not Chairman.
All new CEOs Appointed are Men:
All internally & externally sourced CEOs (promotions) are men.
Board Members Appointed by Functional Role & Gender
Board Leadership Changes
Companies Combining Chair/ CEO Roles
Companies Appointing New Chairmen
New Lead Directors
Companies Combining Chair/CEO Roles
- FIS to Combine Chair-CEO Roles upon Retirement of Current Chair: Frank R. Martire, 69, Chairman and former CEO, is retiring. CEO Gary Norcross, 51, is also becoming Chairman.
- Vantiv Combines Chair/ CEO role when acquiring WorldPay: Vantiv’s CEO Charles Drucker, 54, was appointed Exec Chair. Vanviv CEO Charles Drucker and WorldPay CEO Philip Jansen were appointed Co-CEOs of the company.
- Cerner Names New Chair/CEO from Philips North America: Cerner appointed Brent Shafer, 60, as its CEO and Chairman. Previously, Shafer was CEO of Philips North America. Clifford W. Illig, 66, iCEO and Chairman, continues on the board.
Companies Appointing New Chairmen
Only one company in our group hired a new Chairman (non-CEO) externally:
Ericsson new board member & Chairman: Ronnie Leten, 61, former CEO, Altas Copco, and Chairman at Electrolux. Leten favors decentralization, clear accountability, and simplification. Ericsson Resigning from the board: Chairman Leif Johansson, 66, xCEO Volvo group.
All others were Chairmen promoted from the existing board:
- Alphabet’s John Hennessy succeeds former Chairman and xCEO, Eric Schmidt as Chairman.
- Akamai: Chairman and former Akamai CEO George Conrades, 79 is retiring. Frederic V. Salerno, 73, current Lead Director was named Chairman. He is the former Vice Chairman and CFO at Verizon.
- ServiceNow founder and former Chief Product Officer Fred Luddy, 57, will become the new board chair, succeeding Frank Slootman, 59, xCEO of the Company until 2017, who is resigning from the board. He was succeeded by John Donahoe in 2017.
- Qualcomm: Dr. Paul Jacobs, 54, co-founder & former CEO was initially replaced as Executive Chairman, after shareholder complaints about his pay and confusion between the Chairman and CEO roles. Jeffrey W. Henderson, 52, former CFO, Cardinal Health, an independent Qualcomm director since 2016, was named to serve as Non-Executive Chairman.
- Infineon Technologies: Wolfgang Mayrhuber, 70, has resigned from the Supervisory Board. Initially, Dr. Eckart Sünner is taking over as Chairman.
- Sprint: CEO Marcelo Claude was named Executive Chairman for Sprint , to ensure a successful closing of the T-Mobile deal.
- Cogeco: Louis Audet, 66, currently President and CEO of both companies for the last 25 years, will become Executive Chairman of the Board of both companies. Louis Audet is stepping aside as president and CEO of the Cogeco cable and broadcasting companies founded by his family.
- T-Mobile US/Sprint Merger: Deutsche Telekom CEO Timotheus Höttges, 55, is also set to be appointed Chairman of the Board of the new much larger T-Mobile We consider him an insider as T-Mobile US is a subsidiary.
Companies Appointing Lead Directors
- Citrix: Nanci E. Caldwell, 59, former CMO, PeopleSoft and HP executive, is the new Lead Director
- Cogeco: Jan Peeters, 66, currently Chairman of the Board of both companies, will become Lead Director, effective September 1st, 2018. Jan Peeters' contribution over the last 20 years has been exceptional.
- Worldpay Chair Sir Michael Rake, 70, is now lead director.
- Infosys: Ms. Kiran Mazumdar-Shaw, 65, billionaire biotech entrepreneur, Chair and MD, Biocon, is promoted to Lead Director.
Internally Sourced CEOsCEO Successions
CEOs Hired Externally
Internally Sourced CEOs
- Micro Focus: Chris Hsu steps down immediately as CEO after lower revenue projections; Stephen Murdoch, currently the COO, becomes CEO and rejoins the board with immediate effect.
- Texas Instruments: COO Brian Crutcher Promoted to CEO at Texas Instruments. Texas Instruments appointed EVP, COO & Director Brian T. Crutcher, 44, to the position of President and CEO succeeding Richard K. Templeton, 58. Templeton will remain Chairman of the Board.
- T-Mobile US: John Legere, 59, President T-Mobile US is named CEO and board member.
- Vodafone: Vittorio Colao, 56, departure as Vodafone Group CEO, after ten years at the helm. He will be succeeded by group CFO, former UK CEO and former CEO of Africa and Asia Pac, Nick Read, 52.
- Sprint: hired COO of Altice Michel Combes and replaced CFO Tarek Robbiati, who left Sprint. As of May 2, 2018, Michel Combes was named CEO.
- Cogeco: Philippe Jetté was named CEO of both public companies (Cogeco Inc. and Cogeco Communications). He was most recently the President of Cogeco Peer1, a subsidiary of Cogeco Communications. He has also served as SVP and CTO of Cogeco Communications and is a former Bell Canada executive. Louis Audet, former CEO, is becoming Chairman.
CEOs Hired Externally
- Black Knight: Anthony Jabbour, 49, is the new CEO and was most recently Fidelity National Information Services, and joins the board; Tom Sanzone.56, the former CEO will become the company’s Vice Chairman of the Board and will assist with the transition.
- Nuance Communications: Mark Benjamin, 46, is the new CEO, formerly President & COO, NCR Corp. succeeding CEO since 2000, Paul Ricci, 61, who is retiring.
- Infosys: Salil Parekh, 53 a former executive of Capgemini joined as CEO.
- Fleet Management Software Omnitracs, a Qualcomm subsidiary, appointed Ray Greer, 54, as CEO. Most recently President of BNSF Logistics. He has had exec roles at Greatwide Logistics Services, Newgistics, Ryder Logistics and FedEx. Omnitracks with a focus on emerging industry trendslike big data analytics and artificial intelligence.
Appointments & ResignationsBoard
by Functional Expertise
External CEOs/ President/ GMs Joining/Leaving Boards
External CEOs Joining Boards: Netflix, Oracle, Adobe, Fiserv, Infineon, ADP, Vantiv, Constellation Software, Akamai, Amdocs, Broadcom, Applied Materials, Marvell, Ericsson.
External CEOs Leaving Boards: Intel, Cisco, Uber, Autodesk, Cerner, Worldplay, Constellation Software, Citrix, Take-Two Interactive, eBay, Vodafone, InfoSys, Nokia, NetApp, BT Group, Rogers Communications, TELUS and Ericsson.
COOs/ President/ GM Joining Boards: ServiceNow, Red Hat, GrubHub, InfoSys, Amphenol, T-Mobile US.
COO/ President/ GMs Leaving Boards: AMD, Telefonica.
CFOs/ Audit & Investment Joining & Leaving Boards
CFOs/Audit Joining Boards: Constellation Software, CA Tech, Cisco, Priceline, Wayfair, Seagate, Autodesk, Vodafone.
CFO/ Audit Leaving Boards: Micro Focus, Citrix, Priceline, Broadcom, GoDaddy.
Investment Professionals Joining Boards: Workday, Amdocs, T-Mobile US, Uber, Seagate, TripAdvisor.
Investment Professionals Leaving Boards: FIS, Nuance Communications, Hubspot, Marvell, Match, Wayfair.
CIOs, CTOs, CISOs Joining & Leaving Boards
CISO/CIO/CTO Tech Execs Joining Boards:
- Akamai: Tom Killalea, 49, Amazon’s CISO, as security is seen as a key to Akamai’s strategic direction.
- TCS Appoints Internationally Tech Renaissance Exec to Board. Tata Consultancy Services approved Dr. Pradeep Kumar Khosla, 60, as an Additional and Independent Director. Khosla is a globally popular electrical and computer engineer and the eighth Chancellor of the University of California, San Diego. His research interests include the areas of internet-enabled distributed and compostable simulations, collaborating autonomous systems, agent-based architectures for embedded systems, software composition and reconfigurable software for real-time embedded systems, distributed robotic systems, distributed information systems and intelligent instruments for biomedical applications.
- Tableau Software: Ms. Gerri Martin-Flickinger, 54, as a new director, EVP & CTO, Starbucks and xCIO, Adobe.
- 2U: Greg Peters, Chief Product Officer, Netflix.
- Tata Consultancy Services: Dr. Pradeep Kumar Khosla, 60, as an Additional and Independent Director. Khosla is a globally popular electrical and computer engineer and the eighth Chancellor of the University of California, San Diego.
- Accenture: Intel IoT President & Chief Engineer to Board. Venkata Murthy Renduchintala, 52.
- DXC: Ms. Mary Louise (ML) Krakauer, 60, x EVP & CIO, Dell and xCIO and EVP, Global Business Services, EMC.
- Lam Research: Dr. Young Bum Koh, 59, Samsung’s former EVP, Head of the Mechatronics R&D Center joined Lam Research’s board.
Note - ServiceNow founder and former Chief Product Officer Fred Luddy, 57, will become the new board chair.
CISO/CIO/CTO Tech Execs Leaving Boards:
- Vantiv (Worldpay board member not nominated to Vantiv’s board) - x Oracle CIO Mark Sunday, 62.
Government, Non-Profit, Advisory JoiningOther Functions: Government, Academics, HR and others
- Netflix: Ambassador Susan E. Rice, 53, a former U.S. National Security Advisor and Ambassador to the United Nations. The news prompted fury from conservatives who allege that Susan right misled the public in 2012 attacks in Benghazi, Libya.
- Intel: Dr. Risa J. Lavizzo-Mourey, 63, head of the Robert Wood Johnson Foundation from 2003 to 2017. which has an endowment of about $8 billion and distributes more than $400 million a year. She was named one of the top 100 most powerful women several times by Forbes. She serves on the boards of GE and Hess Corporation.
- Nuance Communications: Sanjay Vaswani, Managing Partner of the Center for Corporate Innovation and former McKinsey and Intel.
- Activision Blizzard: Ms. Reveta Bowers, 68, is an independent governance and organizational consultant for non-profit organizations. From 1972 to 2016, she served as a teacher and administrator at The Center for Early Education, an independent school for children.
Sales, Marketing, Alliances Joining
- Hubspot: Avanish Sahai,, Global VP, ISV and technology alliances at ServiceNow and also had leadership roles at Salesforce, Oracle and McKinsey.
- Fujitsu: Professor of International Relations at University of Tokyo Yoshiko Kojo, 62
- Telefonica: Jordi Gual Solé, 61, a Spanish Economist and Chairman of CaixaBank, where he also served as Chief Economist and Chief Strategy Officer. He is also a Professor of IESE Business School - University of Navarra.
Human Resources Joining
- Priceline: Mirian Graddick-Weir, 62, EVP HR, Merck & co.
- Marvell: Donna Morris, 49, EVP, Customer and Employee Experience at Adobe. She has an HR background.
- Telefonica: María Luisa García Blanco , member of the Salama García Blanco law firm and has extensive international experience in regulatory, administrative and constitutional law. She was Deputy Director General of the Constitutional and Human Rights and Lawyer of the State-Head of the Department of Constitutional and Human Rights, as well as Agent of the Kingdom of Spain before the European Court of Human Rights.
- Australia Telecom: Roy H. Chestnutt, 57, most recently Verizon’s EVP and Chief Strategy Officer. He is a former CEO and divisional President.
- Fujitsu: Former Fujitsu EVP and current Chairman of Fujistu Management Services of America, Kazuto Kojima, 76.
Others Leaving Boards
- Marvell: Ms. Gerri Elliott, 60, who recently joined Cisco Systems as its new Chief Sales and Marketing Officer.
- Fujitsu: Tatsuzumi Furukawa, 75. Former Nifty executive, a ISP and cloud provider, and Fujitsu subsidiary.
- Ericsson: Ms. Kristin Skogen Lund, 51, Director General of the lobbyist group, Confederation of Norwegian Enterprise.
- Alphabet: Academician and leader in the field of molecular biology Shirley M. Tilghman, 71. Tilghman has served as a member of the Board since 2005.
- Fujitsu: Ms. Miyako Suda, 69, Professor of Gakushuin University.
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