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Sunday, 17 June 2018 11:46

Giant Tech Companies with Big Re-Organizations & Executive News Featured

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Themes in the Giant Tech Reorgs:

  • Acquisitions: Vantiv acquires WorldPay. Sprint/T-Mobile US Merger; failed acquisition of Qualcomm.
  • Deals with Investors (activist or not): Akamai, Ericsson, uber.
  • Disappointing Results: Micro Focus, BT Group.
  • Other: F5 Networks (growth), Nuance (long term CEO transition), Vodafone (surprise), InfoSys (whistle blower).

 

 

Vantiv Acquires Worldpay: Resulting Chairman, CEO and Board Changes

  • Vantiv’s CEO Charles Drucker, 54, was appointed Exec Chair. . 
  • Worldpay Chair Sir Michael Rake, 70, is now lead director.
  • Vanviv CEO Charles Drucker and WorldPay CEO Philip Jansen were appointed Co-CEOs of the company. 
  • Worldpay directors joinng Vantiv’s board: Worldpay CEO Philip Jansen, 50, former WorldPay (UK) CEO Rohinton Kalifa, 56, and former Epiphany CEO Karen Richardson, 54.
  • Resigning from the Worldpay & Vantiv's board: xCEO f Quantifind David Karnstedt, 51, x Oracle CIO Mark Sunday, 62 . Former CameoWorks CEO Deanna Oppenheimer, 59 Deanna Oppenheimer who was initially appointed to the board, resigned due to an appointment as Chair of Hargreaves Lansdown plc.

  

Akamai works with Activist Investor Elliott Management

  • Akamai Technologies (AKAM) intensified its stock buyback plan and collaborates with activist investor Elliott Management to improve company operating margins. 
  • Akamai Chairman Succession: 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. 
  • Joining Akamai’s board: Tom Killalea, 49, Amazon’s CISO, as security is seen as a key to Akamai’s strategic direction. William R. Wagner, 50, xCEO of LogMeIn. 
  • Akamai Executive Appointments: Fari Ebrahimi, 56, SVP and CIO. He was most recently SVP and Global CIO of Avaya. Scott Lovett as SVP, Global Web Sales. He joins from McAfee, where he served as EVP of Global Sales and Operations.

 

F5 Networks Hires Heavyweight Management Team

  • From Concur and SAP: Frank Pelzer, 47 as EVP & CFO
  • From Microsoft: Ana White as EVP & CHRO
  • From McKinsey, Kara Sprague, as SVP, GM of Application Delivery Controller (ADC)
  • From CloudPassage and xHP, Ram Krishnan as SVP, GM of Security 
  • From McAfee: Tom Fountain as the EVP and Chief Strategy Officer, and also has M&A responsibility.

 

Micro Focus's Lower Revenue Growth Drives Major Exec Changes 

  • Micro Focus CEO Chris Hsu has left the software vendor as the company said it was projecting lower revenue growth for its fiscal year following its $8.8 billion spin-merger with Hewlett Packard Enterprise's software assets last year. 
  • Chris Hsu steps down immediately as CEO after lower revenue projections. Hsu, named CEO of U.K.-based Micro Focus in January 2017, assumed the role following the closure of merger with the software division of HPE. He came to Micro Focus from HPE, where he managed the vendor's enterprise software business.
  • Stephen Murdoch, currently the COO, becomes CEO and rejoins the board with immediate effect.
  • Mike Phillips, currently CFO, will be moving to the new role of Director of M&A and steps down from the board. 
  • Chris Kennedy is the new CFO, joining from ARM.
  • Ian Fraser joins as CHRO from RELX Group.

 

Nuance Communications CEO Succession, Board and Exec Changes

  • CEO Succession: Mark Benjamin, 46, is the new CEO, formerly President & COO, NCR Corp. succeeding CEO since 2000, Paul Ricci, 61, who is retiring
  • Leaving the Nuance Board - William H. Janeway, 75, is retiring from the board. He was Partner, Warburg Pincus and has served on several boards.
  • Joining the Nuance Board: Sanjay Vaswani, Managing Partner of the Center for Corporate Innovation and former McKinsey and Intel
  • New Executive: Al Monserrat, former CEO of RES Software as EVP and GM, Imaging.

 

Infosys Aftermath after Whistleblower Complaint to Indian and US SEC

  • Infosys xCEO Vishal Sikka, 50, a former SAP executive, had wanted to transform Infosys into software plus services company; as a result Skikka made two acquisitions, which eventually resulted in a $90m write-down. Allegations of wrongdoing in the deals, including questions about the exiting CFO's severance package led to CEO Skiika's exit as well as that of Chairman R Seshasayee, 69 in 2017.
  • Co-founder Nandan Nilekani was appointed as non-executive chairman and U. B. Pravin Rao, 55, iCEO.
  • Nilekani found no wrong-doing and picked Salil Parekh, 53 a former executive of Capgemini as CEO, starting in January 2018. Rao, iCEO was appointed COO and board member.
  • Then, a whistleblower letter came in and claimed that “board and the management led by R. Seshasayee and Ravi Venkatesan had not only defended the acquisition but also gave a clean chit to the erstwhile CEO and publicly said that they had not found anything wrong with the acquisition”. Former Microsoft India Chairman Ravi Venkatesan steps off the board it the first exit from the company’s board since co-founder and chairman Nandan Nilekani took over at the helm last August.
  • Ms. Kiran Mazumdar-Shaw, 65, billionaire biotech entrepreneur, Chair and MD, Biocon, is promoted to Lead Director.
  • Rajesh K. Murthy, President, resigned and joined CMA CGM S.A., French container transportation and shipping company.

  

Sprint Corp and T-Mobile US Merger Lead to Many Changes

Deutsche Telekom is reinforcing its business in the United States: its subsidirary T-Mobile US Inc. and Sprint Corp. will merge in an all-stock transaction. According to the agreement, Deutsche Telekom will be able to appoint nine of the 14 members of the Board of Directors, of whom a minimum of two must be independent, Group-external representatives. 

  • Deutsche Telekom CEO Timotheus Höttges, 55, is also set to be appointed Chairman of the Board of the new much larger T-Mobile
  • John Legere, 59, President T-Mobile US is named CEO and board member. 
  • A second T-Mobile executive, COO Michael Sievert, will be president. He was appointed to the T-Mobile board in February.

Deutsche Telekom will be able to appoint nine of the 14 members of the Board of Directors, of whom a minimum of two must be independent, Group-external representatives.

  • Sprint CEO Marcelo Claure, 47, will be a director of the new company. Claure will also assume new roles at SoftBank, including COO at SoftBank Group and CEO at SoftBank Group International.
  • SoftBank CEO and Sprint Chairman Masayoshi Son, 60, will become a director of the merged companies.

We expect to hear more announcements in the combined entity as the merger goes through both for the board and exec leadership teams. 

Sprint re-organization for the Merger Execution: Earlier this year, Sprint had a new President and CFO – 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 and Marcelo Claude Executive Chairman, to ensure a successful closing of the T-Mobile deal. Spring is looking for a CFO. 

 

BT Group Making Radical Changes to Improve Bottom Line

In addition to laying off 13,000 employees in managerial and back office jobs, BT says it will hire about 6,000 new engineers and front-line customer service staff to support its roll-out of fibre and 5G mobile networks.

Stepping down from BT’s board

  • Karen Richardson, 54, former CEO Epiphany and SilverLake Partners
  • Tony Ball, 62 British television executive, former chairman of Kabel Deutschland and former CEO of BSkyB

Exec changes at BT 

  • BT Group hired BCG exec Michael Sherman to the newly created role of Chief Strategy and Transformation Officer. 
  • Sabine Chalmers, the former Anheuser-Busch InBev executive, joins as General Counsel.
  • Gerry McQuade will lead BT Enterprise in the UK and Ireland. McQuade’s former role was CEO of the Wholesale and Ventures business.
  • Graham Sutherland, 63. CEO of BT Business and Public Sector is leaving BT Group.

 

Ericsson’s Activist Investor Cevian Drives Board & Exec Changes

Ericsson has made sweeping cost cuts and replaced much of its top management to try to turn around a business hit by competition from China’s Huawei and Finland’s Nokia, falling spending by telecoms operators and the hangover from a failed plan to diversify.

New board member & Chairman:

  • Ronnie Leten, 61, former CEO, Altas Copco, and Chairman at Electrolux. Leten favors decentralization, clear accountability, and simplification. 
  • Joining the board: Kurt Jofs, 59, x CEO, Atlas Copco and Ericsson exec. 
  • Resigning from the board: Chair Leif Johansson, 66. xCEO google, Kristin Skogen Lund, 51, Managing Director of a Norwegian Lobbying group for enterprises, and former Google exec & entrepreneur Ms. Sukhinder Singh Cassidy, 58, CEO and Chairman of JOYUS, and founder of Joyus, Yodlee and theBoardList. 

Exec Changes:

  • Xavier Dedullen, 53, SVP, Chief Legal Officer and Head of Legal Affairs & Compliance. Dedullen comes from LafargeHolcim based in Switzerland. 
  • Mckinsey Partner, Asa Tamsons joins as SVP and head of Business Area Emerging Business. 

 

Uber Reaches Deal with Softbank; and EMEA Hires

A group of investors led by SoftBank Group closed a deal with Uber Technologies on January 18, 2018.

 

Two board members were appointed:

  • Rajeev Misra, 56 CEO, SoftBank's Vision Fund; he is a former UBS and Deutsche Bank Executive. 
  • Marcelo Claure, Sprint president and CEO 

New Uber Execs:

  • Orbitz CEO Barney Harford, 45, started as the new COO of the ride-hailing company. 
  • Amazon's Alexa shopping chief Assaf Ronen as SVP and Head of Product.
  • Bo Young Lee as its first chief diversity and inclusion officer from the Marsh LLC financial services and insurance advisory firm. 

European Exec Changes:

  • Amazon’s Director of Electronics Jamie Heywood as Uber’s regional GM, northern and eastern Europe. 
  • Uber Eats has appointed Rodrigo Arevalo as GM, Europe, Middle East and Africa. Arevalo has replaced Jambu Palaniappan. He has also worked with Endeavor, Linio Mexico, Rocket Internet and many other companies.

New UK Board Members

  • Susan Hooper, non-exec board member at Department for Exiting the European Union (DExEU) She has also worked with SC Johnson,  Royal Caribbean, PepsiCo, McKinsey & Co, Saatchi & Saatchi and Wrangler Jeans.
  • Roger Parr, former CEO of Clear Channel 
  • Asia Pac: Amit Jain, who leads the India business of the Uber Technologies, has been tasked with heading its entire Asia Pacific business.

 

Qualcomm Drama - 

Exec. Chairman and xCEO Paul Jacobs Ousted From Board as He Chased Broadcom bid & Names New Chairman

President Donald Trump blocked Broadcom Ltd.’s $117 billion hostile bid for Qualcomm, reflecting officials’ concerns about an intensifying arms race between the U.S. and China over advanced technologies. 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. At the company’s annual meeting in March, Paul Jacobs, wasn’t nominated to stand for re-election after a dispute with other board members over his desire to make a bid for the company.

 

Vodafone Surprise CEO Succession & Board Changes

  • Dr. Mathias Döpfner, 54, CEO and Chairman of German media group, Axel Springer SE steps down from the board to focus on Axel Springer. Joining the board is Michel Demare, 61, former CFO of ABB, and currently Vice Chairman at UBS. 
  • Vittorio Colao, 56, departure as Vodafone Group CEO, after ten years at the helm, was a surprise to just about everybody, not least investors, as the drop in the company’s share price in the aftermath of the announcement testifies. Vittorio Colao will be succeeded by group CFO, former UK CEO and former CEO of Africa and Asia Pac, Nick Read, 52.
  • Deputy CFO Margherita Della Valle, 51, will succeed Nick Read as group CFO and will join the board. All changes effective 1 October 2018.

 

 

 

 

 

 

Read 1022 times Last modified on Tuesday, 08 September 2020 15:52
Dora Vell

Dora Vell is the Managing Partner of Vell Executive Search, a boutique executive search firm in Boston focused on recruiting technology executives and board members. Vell has successfully completed numerous board member and C-level executive searches, including CEOs, COOs, CIOs, and Vice Presidents - at both public and private companies.

Prior to founding the firm in 2005, Vell was a Partner at Heidrick & Struggles' Technology practice for seven years.  Before her career in executive search, she worked at IBM for 11 years, managing software engineering organizations of 100 people and software sales organizations with revenues of $150 million. She has also served as an executive assistant to the CEO of IBM Canada for one year.

Vell holds seven worldwide software patents. She has published several Business of Leadership reports on governance and leadership and has been quoted in numerous articles including The Wall Street Journal, Forbes, Business Week, Fortune, Agenda Week, MSNBC, Mass High Tech, the OPUS for the World Economic Forum, Boston Business Journal, The Globe & Mail, CIO Magazine, and IEEE. She also has been a featured speaker on leadership at numerous conferences and at Columbia University's MBA program.

Vell is a member of the National Association of Corporate Directors (NACD), the Boston CEO Roundtable. She has served on the boards of Framingham State, Entrepreneur's Organization, Goodwill, Mary Centre for developmentally handicapped adults, garage.ca, and RBC Capital Partners.

She has received an MBA from the University of Toronto, a Master in Computer Science from the University of Waterloo, and a Bachelor in Computer Science from Carleton. She has also completed the MIT Entrepreneurial Master’s program.

www.vell.com

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