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Tuesday, 02 September 2014 11:37

78 Open CEO Spots and 47 New CEO Appointments in the Past 30 Days‏ Featured

Written by Dora Vell
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Vell Compiles Open CEO Roles and Placements in the Past Month
PREPARED BY: Vell Executive Search
DATE: July 22 to August 21, 2014

I cannot believe it is back to school season!

This newsletter covers open CEO roles and latest appointments, in the tech sector and overall in the thirty days ended August 21st, 2014.

Technology Industry

New Tech CEO Openings: two - ServiceSource (CA), Eltek (Sweden)

Total Tech CEO Roles Open: 16

New Tech CEO Appointments: 14

Sources of Tech CEO Appointments: 8 external; 6 internal promotions – COO (2),iCEO (2), Co-Founder(1), and board member (1)

Geographic Distribution of new Tech CEOs:  12 in the U.S., and two international

Gender Diversity: One of 14 CEOs appointed was a woman (Ixia).

All Other Industries

New CEO Openings (other industries): 16 Darden Restaurants (FL), The St. Joe Company (FL), Aaron’s (GA), Crate and Barrel (IL), ITT Educational Services (IN), ConAgra Foods (NE), CONMED (NY), Invacare (OH), Kennametal (PA), Cash America International (TX), Texas Gulf Energy (TX), EZCORP (TX), Manitoba Telecom Services (Canada), Eniro (Sweden),  Deloitte (UK), Net-a-Porter Group (UK).

Total CEO Roles Open: 62 (other industries)

New CEO Appointments: 33 (other industries)

Sources of Appointments (other industries): 12 were external appointments; 21 were internal promotions – Divisional heads (5), COOs (5), residents (7), CFO (1), executive from acquired company (2) and former employee (1) 

Geographic Distribution of new CEO Appointments (other industries): US (15), Canada (3), International (3)

Gender Diversity(other industries): One woman was appointed as CEO (Synta Pharmaceuticals)

Overall CEO turnover for July 2014 declined 18% from that of July 2013, and the month to month change from June 2014 to July 2014 showed an increase of 38% for CEOs.

Dora Vell

Vell Executive Search
t: 781-416-4003 | This email address is being protected from spambots. You need JavaScript enabled to view it.

Vell Executive Search is a retained executive search firm that specializes in recruiting technology execs for boards and executive roles, such as CEOs and C-Levels. Vell has built a reputation for recruiting talented high-performing leadership teams globally. You can reach us at This email address is being protected from spambots. You need JavaScript enabled to view it. and our website is 

CEOs Wanted and Appointed In Technology Industry

CEOs Wanted


JDA Software Group, Scottsdale, AZ                                                       Revenues: Private
JDA Software Group is a provider of enterprise software solutions designed to enable planning, optimization and execution of supply chain, merchandising and pricing processes. As of December 21, 2012, JDA Software Group Inc. was acquired by RedPrairie Corporation.

May 2014 - JDA Software Group appointed its chairman Baljit Dail to serve as an interim CEO. He replaces Hamish Brewer who is leaving the company after 20 years.


Symantec, Mountain View, CA                                                                Revenues: $6.9b
Symantec provides security, backup, and availability solutions worldwide.

March 2014 - Symantec has appointed board member Michael Brown as interim president and CEO, following the termination of Steve Bennett as the company's president and CEO and his resignation from Symantec's board. A special committee of the board will immediately begin the search for a permanent CEO with the assistance of a leading executive search firm.

Demand Media, Santa Monica, CA                                                          Revenues: $380.6m
Demand Media is a diversified Internet media and domain services company.

October 2013 - Demand Media announced that CEO and Chairman Richard Rosenblatt has resigned. In his stead, the board has named Shawn Colo as interim president.

Novatel Wireless, San Diego, CA                                                              Revenues: $335.1m

Novatel Wireless is a provider of wireless solutions for the worldwide mobile communications markets.

June 2014 - Novatel Wireless appointed Alex Mashinsky Interim CEO, replacing Peter Leparulo who will continue to serve on the Board. The Board is engaging an executive search firm to evaluate candidates for a permanent CEO.

ServiceSource, San Francisco, CA                                                                     Revenues: $272m
ServiceSource is a service revenue management company.

August 2014 – ServiceSource announced the appointment of CFO, Ashley Fieglein Johnson, as Acting CEO, and has retained a leading executive search firm to identify a permanent CEO.

Infoblox, Santa Clara, CA                                                                       Revenues: $225m
Infoblox is an automated network controller. The Company’s network functions include IP address management, device configuration, compliance, network discovery, policy implementation, security and monitoring.

May 2014 – Infoblox’s CEO Robert Thomas has decided to step down. Thomas will remain in his present management and board positions pending the appointment of his successor. The Board has engaged an executive search firm to assist in the process of contacting and evaluating candidates.

Pulse Electronics, San Diego, CA                                                         Revenues: $355.7m

Pulse Electronics is a supplier of interconnect components for data center network equipment.

July 2014 - Ralph E. Faison resigned from his positions as Chairman, CEO and President of Pulse. The Board will immediately begin a search for a permanent CEO, which will include both internal and external candidates. COO Alan H. Benjamin appointed Interim CEO.


Carbonite, Boston, MA                                                                           Revenues: $107.2m
Carbonite provides secure cloud backup solutions with anytime, anywhere access to files stored on its servers.

February 2014 - David Friend, co-founder and CEO of Carbonite, will step down as CEO of the company once a successor is found.


ScopiaRx, Cincinnati, OH                                                                           Revenues: Private
ScopiaRx founded in 2008 by Jeffrey Huth Phd, MD., is a startup company in Cincinnati, OH that has developed a new, comprehensive drug safety software and database platform to improve patient care and reduce medical costs.

May 2014 - ScopiaRx is looking for an executive with a strong sales background who can help lead an early stage health care IT company to market.  The position is based in Cincinnati.  The founder is an MD who is looking for a seasoned executive to direct the market expansion of a drug safety cloud-based analytics tool.


Urban Airship, Portland, OR                                                                       Revenues: Private
Urban Airship is a mobile software startup. The company enables brands to build relationships with their constantly connected customers through Mobile Relationship Management.

July 2014 - Scott Kveton, the co-founder and CEO of push notification company Urban Airship, has stepped down amid allegations of sexual assault. CFO Mike Templeton will be interim CEO in Kveton’s absence or until a replacement can be made.


Alteva, Philadelphia, PA                                                                             Revenues: $30.1m
Alteva, a cloud-based communications company, is a provider of hosted Unified-Communications-as-a-Service, (UCaaS).

May 2014 – Alteva appointed Brian J. Kelley, the company’s board member, as its interim CEO. The Board is in the process of conducting a search for a permanent CEO.

West Virginia

MTR Gaming Group, Chester, WV                                                           Revenues: $478.6m
MTR Gaming Group owns and operates racetrack, gaming and hotel properties in West Virginia, Pennsylvania, and Ohio.

April 2013 - Jeffrey J. Dahl has provided his notice of resignation from his position as President and CEO of MTR Gaming Group to pursue other business opportunities. Dahl has agreed to remain in his current position as the Board conducts its interview process for a new CEO. COO Joseph L. Billhimer adds on the role of Acting President.


eHealth Ontario, Toronto, ON                                                              Revenues: Private
eHealth Ontario is the agency tasked with facilitating the development of Ontario's proposed public Electronic Health Record system.

April 2014 - David Rounthwaite has been named interim CEO. The board is actively searching for a new CEO.

Other International

Cision, Stockholm, Sweden                                                                       Revenues: $123.8m
Cision is a leading provider of cloud-based PR software, services and tools for the marketing and public relations industry.
June 2014 - Cision AB (CSN.ST) today announces that Peter Granat is resigning as President and CEO of Cision. The Board of Directors has appointed Magnus Thell, currently head of Cision Europe, as interim President and CEO, effective immediately.

Weve Limited, London, U.K.                                                           Revenues: NA
Weve is the joint venture between the UK's three largest mobile network operators - EE, Telefonica UK (O2) and Vodafone UK. Weve is in the process of rolling out a mobile payment service in the UK through a partnership with MasterCard.
June 2014 - David Sear, chief executive of Weve, is leaving the company he helped establish, after one and a half years. Weve is on the hunt for a CEO.

Eltek, Petah Tikva, Israel                                                                          Revenues: $597.3m
Eltek ASA is a global power conversion specialist that develops and markets energy systems for telecom and industrial applications.
July 2014 - Eltek announced that Arieh Reichart shall step down as CEO of the Company with immediate effect. Roberto Tulman, who has been serving as the CTO, shall assume the position of interim CEO.

CEOs Appointed


Mozilla: iCEO Chris Beard named CEO of Mozilla.

Imperva: The company appointed former Coverity CEO Anthony J. Bettencourt as president, CEO, and director, replacing founder and CEO Shlomo Kramer, who will continue to serve as chairman.

Ixia: Ixia has appointed HP senior executive Bethany Mayer as president and CEO.

CafePress: CEO Bob Marino retires and Fred E. Durham, III, co-founder will return in the role of CEO.

Skyera: Skyera, a provider of enterprise solid-state storage systems, promoted COO Frankie Roohparvar to CEO.


StrataCloud: The company formerly known as Reflex Systems, has named HP exec Brian Cohen as its CEO.


Sprint: Marcelo Claure, the CEO of cellphone distributor Brightstar, will replace Dan Hesse.


VelociData: A firm that specializes in data normalization for large corporations named its board member and former IBM executive Barry Rudolph as CEO.

New York

MongoDB: BladeLogic’s co-founder and former CEO Dev Ittycheria to take charge as global President and CEO of MongoDB, the open source software company, replacing Max Schireson.

ThreatStream: ThreatStream, a SaaS-based cyber threat intelligence platform provider, appointed ArcSight co-founder Hugh Njemanze as its new CEO.


CDI Corp.: Investcorp’s Vice Chairman – Post Acquisition Management (Europe), Scott J. Freidheim, 49, joins CDI as CEO.


RealNetworks: Rob Glaser, the founder of RealNetworks, is back on a permanent basis at the company, after serving as interim CEO for the last two years.

Other International 

The Sage Group plc: Senior civil servant Stephen Kelly will succeed Guy Berruyer as Group CEO.

Apsis: The Sweden based supplier of technology for intelligent email marketing in the Nordic countries, appointed COO Kim Mortensen as new CEO, replacing founder Anders Frankel.

CEOs Wanted and Appointed – All Other Industries

CEOs Wanted


Arkansas Capital Corporation, Little Rock, AR                                        Revenues: Private
Arkansas Capital Corporation Group provides commercial financing services. The company was formerly known as First Arkansas Development Finance Corporation.

July 2013 - Sam Walls, who served as the CEO of The Arkansas Capital Corporation Group, has retired after 24 years of service. Rush Deacon, who has served as Chairman of the Board of Arkansas Capital Corporation, is now serving as the acting CEO for the company.


Crocs, Niwot, CO                                                                                    Revenues: $1.1b
Crocs is a designer, manufacturer and distributor of footwear and accessories.

January 2014 - Crocs CEO John McCarvel has retired. Crocs said it is launching an outside search for McCarvel's replacement. Crocs has appointed Reebok executive Andrew Rees as president, who will also serve as interim CEO until the company finds a successor to CEO John McClarvel, who left. Rees also will handle the role of principal executive officer until the company finds a replacement for CEO.

Advanced Energy Industries, Fort Collins, CO                                            Revenues: $547m
Advanced Energy designs, manufactures, sells, and supports power conversion products that transform power into various usable forms.

June 2014 - Garry Rogerson, CEO of Advanced Energy Industries, advised the Board of Directors of the company of his decision to step down from his role as CEO upon appointment of his successor. Mr. Rogerson also will resign as a director of the company when a successor CEO is appointed.


Darden Restaurants, Orlando, FL                                                         Revenues: $8.8b
Darden Restaurants is full service restaurant company. The Company owns and operates more than 1,500 restaurants.

August 2014 - Darden Restaurants announced that it has retained global executive search firm Russell Reynolds Associates to assist the Company with the recruitment of its next CEO.  As previously announced, Clarence Otis is stepping down as Chairman and CEO of Darden and has agreed to continue until the earlier of the appointment of his successor or December 31, 2014.

WellCare Health Plans, Tampa, FL                                                         Revenues: $7.4b
WellCare Health Plans is a provider of managed care services to government-sponsored health care programs, focusing on Medicaid and Medicare.

October 2013 - The Board of Directors appointed David J. Gallitano, the company's Chairman, to serve as the company's interim CEO, while a search is conducted by the board for a new CEO.

DNA Brands, Boca Raton, FL                                                                  Revenues: $156.8K
DNA Brands produces, markets and sells a line of three carbonated blends of DNA Energy Drink, Citrus, Sugar Free Citrus and Sugar Free Cranrazberry.

June 2014 - DNA Brands announced that Eric Fowler, the current President and CEO of the Company, resigned from his positions. Founder Melvin Leiner has assumed the role of interim President and CEO.

The St. Joe Company, Watersound, FL                                                         Revenues: $131.3m
The St. Joe Company is a Florida real estate development and operating company.

August 2014 - The St. Joe Company announced that its CEO, Park Brady, will be retiring. he Company will be commencing a search for a new CEO. Jeffrey C. Keil, an independent Director of St. Joe since 2011, will serve as President and Interim CEO.


Aaron’s, Atlanta, GA                                                                               Revenues: $2.2b
Aaron’s is a specialty retailer of consumer electronics, computers, residential furniture, household appliances and accessories.

August 2014 - Aaron's announced that Ronald W. Allen, 72, is retiring as CEO. The Board has retained Spencer Stuart to assist in the process of identifying Allen's successor. The search process will include a full review of both internal and external candidates. The company appointed Gilbert L. Danielson, EVP and CFO, as interim CEO.


Hawaiian Electric Company, Honolulu, HI                                                    Revenues: NA
Hawaiian Electric Company is a wholly-owned subsidiary of Hawaiian Electric Industries. It is a regulated electric public utility.

October 2013 – The President and CEO Richard M. Rosenblum, 64, has notified the company that he plans to retire within a year.


Alternate Energy Holdings, Eagle, ID                                                     Revenues: NA
Alternate Energy Holdings is engaged in the purchase, optimization and construction of
green energy sources, primarily nuclear power plants.

November 2012 - Alternate Energy Holdings announced that founder Don Gillispie will step down as CEO and Director after seven years. The decision was made amid ongoing health concerns, although Gillispie will assist the company part time as a consultant as his health allows going forward. In his place, the AEHI Board of Directors voted unanimously to appoint Pete Honeysett, AEHI Director of Nuclear Projects, as President.


Crate and Barrel, Chicago, IL                                                     Revenues: NA
Crate & Barrel is a 170+ store American chain of retail stores, specializing in housewares, furniture, and home accessories.

August 2014 - Crate and Barrel CEO Sascha Bopp, who led the furniture chain’s recent international expansion, has resigned, less than a month after his second-in-command left the company. Adrian Mitchell, Crate and Barrel’s COO and CFO, has assumed interim leadership and a search is underway to replace Bopp.


ITT Educational Services, Carmel, IN                                                     Revenues: $1.1b
ITT Educational Services (ITT/ESI) is a provider of postsecondary degree programs in the United States.

August 2014 - ITT Educational Services’ CEO Kevin M. Modany resigned. The company is lloking for his replacement.


Ashland, Covington, KY                                                                              Revenues: $7.8b
Ashland is a global specialty chemical company that provides products, services and solutions throughout a variety of industries.

April 2014 - Chairman and CEO James J. O`Brien has decided to retire effective December 31, 2014. Ashland`s board has launched a formal search process to choose his successor.


Waters Corporation, Milford, MA                                                            Revenues: $1.84b
Waters Corporation is a laboratory analytical instrument and software company.

August 2013 - Waters Corporation announced that Douglas A. Berthiaume will retire as CEO within the next twenty-four months. The Board of Directors has appointed a Succession Planning Committee that will guide the process of selecting a successor, and plans to engage an executive search firm to assist in a search which will consider both internal and external candidates.

Alere, Waltham, MA                                                                             Revenues: $3.02b
Alere is a provider of point-of-care diagnostics and services.

July 2014 - COO Namal Nawana will replace Ron Zwanziger as CEO and president of the company on an interim basis. The board will hire an executive search firm to find a new chief, while considering internal and external candidates.


The Mosaic Co., Plymouth, MN                                                                 Revenues: $8.2b  Mosaic is a producer and marketer of combined concentrated phosphate and potash crop nutrients.

May 2014 – Mosaic Co. said CEO James T. Prokopanko is taking a medical leave of absence for surgery to treat cancer and named CFO Lawrence W. Stranghoener as interim CEO. Mr. Stranghoener, whose appointment is effective June 1, intends to retire at the end this year, the company said. Mosaic named Richard L. Mack, currently its general counsel and corporate secretary, as its new CFO.

Arctic Cat, Plymouth, MN                                                                         Revenues: $730.5m    Arctic Cat designs, engineers, manufacture and market snowmobiles and all-terrain vehicles (ATVs) and recreational off-highway vehicles (ROVs) under the Arctic Cat brand name, as well as related parts, garments and accessories (PG&A).

June 2014 – Arctic Cat said that Claude Jordan had stepped down as chairman and CEO and that the company had launched a search for a successor.  Chris Twomey, who previously served as CEO for more than two decades, is interim leader.


Aegion, Chesterfield, MO                                                                         Revenues: $1.1b
Aegion Corporation is engaged in infrastructure protection, providing technologies and services to protect against the corrosion of industrial pipelines and for the rehabilitation and strengthening of sewer, water, energy and mining piping systems and buildings, bridges, tunnels and waterfront structures.

May 2014 –Charles R. "Chuck" Gordon, a member of the Aegion Board of Directors since 2009, has been unanimously appointed by the Board to serve as Interim CEO, following the resignation of J. Joseph Burgess from his position of President, CEO and Director.

American Railcar Industries, St. Charles, MO                                        Revenues: $159.4m
American Railcar Industries designs and manufactures hopper and tank railcars in North America.

March 2013 – American Railcar Industries announced that James Cowan, its President and CEO, has resigned in order to pursue other interests. The board has appointed Jeffrey S. Hollister, who was most recently overseeing the company's railcar manufacturing group, as President and interim CEO.


ConAgra Foods, Omaha, NE                                                                          Revenues: $17.7b
ConAgra Foods is a packaged food company. The Company operates in four segments: Consumer Foods, Commercial Foods, Ralcorp Food Group, and Ralcorp Frozen Bakery Products.

August 2014 –
The search is now underway for the next CEO of ConAgra Foods. Current CEO Gary Rodkin announced his plan to retire from the company in 2015.

New Jersey

Vonage Holdings, Holmdel, NJ                                                       Revenues: $830m
Vonage Holdings is a provider of communications services connecting people through broadband devices worldwide.

April 2014 - Vonage Holdings’ CEO Marc Lefar has shared his intention to retire from the Company upon completion of a process to select a successor.

B&G Foods, Parsippany, NJ                                                           Revenues: $725m
B&G Foods manufactures, sells and distributes a range of branded shelf-stable food and household products across the United States, Canada and Puerto Rico.

May 2014 - B&G Foods announced that David L. Wenner plans to retire as President and CEO in December 2014, following the completion of a process to choose his successor. The company is working with Herbert Mines Associates, a leading executive recruiting firm, and will consider both internal and external candidates.

Rockwood Holdings, Princeton, NJ                                                  Revenues: $1.4b
Rockwood is a developer, manufacturer and marketer of specialty chemicals and advanced materials used for industrial and commercial purposes.

June 2014 - The Rockwood Board of Directors has appointed Robert J. Zatta as Acting CEO effective July 1, 2014, in addition to his role as Chief Financial Officer.

New York

Assurant, New York, NY                                                                         Revenues: $9.04b
Assurant is a provider of specialized insurance products and related services in North America and select worldwide markets.

May 2014 – Assurant’s President, CEO and director Robert B. Pollock, 59, plans to retire, effective December 31, 2014. The Board of Directors has commenced a search to evaluate both internal and external candidates for Mr. Pollock's successor.

Morgans Hotel Group, New York, NY                                                      Revenues: $189.9m
Morgans Hotel Group is a fully integrated lifestyle hospitality company.

September 2013 - Morgans Hotel Group said Michael Gross resigned as CEO after its largest shareholder led an ouster of the board. Jason Kalisman, the company’s chairman, will take over as interim CEO.

Fairway Group Holdings, New York, NY                                                 Revenues: $661m

Fairway Group Holdings Corp. operates in the retail food industry, selling fresh, natural and organic products, prepared foods, and specialty and gourmet offerings along with a assortment of conventional groceries.

February 2014 - Herbert Ruetsch is retiring after two years as CEO of Fairway. President William Sanford will become interim CEO.

CONMED, Utica, NY                                                                        Revenues: $762.7m

CONMED is a medical technology company, which emphasizes on surgical devices and equipment for minimally invasive procedures and monitoring.

July 2014 – Conmed’s CEO Joseph Corasanti is stepping down. The Board has appointed Curt Hartman, an independent director of CONMED and the former Interim CEO and CFO of Stryker Corporation, as Interim CEO.


Invacare, Elyria, OH                                                                                   Revenues: $1.4b

Invacare is the manufacturer and distributor of medical equipment and supplies used in home. 

July 2014 - Gerald B. Blouch, President and CEO, will retire. Robert K. Gudbranson, Invacare’s SVP and CFO, has been named interim President and CEO.


Michael Baker Corporation, Allegheny County, PA                                 Revenues: $593.4m
Michael Baker Corporation provides engineering services for public and private sector clients worldwide. The company operates in two segments: Transportation and Federal.

December 2012 - Michael Baker Corporation announced that, at the request of its Board of Directors, Bradley L. Mallory has stepped down as President and CEO and Director of the company. The company has created an Office of the Chief Executive, composed of Michael J. Zugay, CFO, and H. James McKnight, Chief Legal Officer, to lead the company on an interim basis. Supporting this office will be an Operations Committee consisting of senior operating executives representing the company's business segments. Korn/Ferry to assist Baker board with CEO search.

American Eagle Outfitters, Pittsburgh, PA                                             Revenues: $3.5b
American Eagle Outfitters is a specialty retailer that operates in the United Sates and Canada.

January 2014 - American Eagle Outfitters (AEO) said chief executive Robert Hanson is leaving the retailer, while executive chairman Jay Schottenstein will step in as his interim replacement.

Bon-Ton Stores, York, PA                                                                      Revenues: $2.8b
The Bon-Ton Stores is a department store operators in the United States, offering an assortment of apparel and accessories for women, men and children.

March 2014 - Brendan L. Hoffman, President and CEO, will not renew his employment agreement with the Company at its expiration on February 7, 2015. The Board of Directors will undertake a national search to find a CEO to succeed Mr. Hoffman.

Kennametal, Latrobe, PA                                                                      Revenues: $2.87b
Kennametal is a supplier of tooling, engineered components and advanced materials consumed in production processes.

August 2014 - Kennametal announced that Chairman, President and CEO Carlos Cardoso has decided to retire from the company. This will be a seamless leadership transition as the company's board of directors commences its search for Cardoso's successor, which members expect to complete before the end of the year. The search process will consider both internal and external candidates.


Kirkland’s, Nashville, TN                                                                          Revenues: $448.4m
Kirkland’s is a specialty retailer of home decor and gifts in the United States.
March 2013 - Kirkland's announced that Robert Alderson, the company’s long-time President and CEO, has advised the Board of Directors of his intention to retire from the Company at the end of fiscal 2013, or approximately February 1, 2014.

TeamHealth Holdings, Knoxville, TN                                                       Revenues: $2.1b
TeamHealth is a provider of outsourced physician staffing solutions for hospitals in U.S.
January 2014 - Team Health Holdings’ CEO Greg Roth has decided to retire. The company's Board of Directors will begin an executive search for a new CEO, while Roth will remain as CEO throughout the search process to manage an orderly transition in the leadership of the company.

Dollar General, Goodlettsville, TN                                                                Revenues: $17.5b
Dollar General Corporation is a discount retailer in the United States.
June 2014 - Richard W. Dreiling, Chairman and CEO, advised Dollar General of his intention to retire as CEO effective May 30, 2015 or upon the appointment of a successor. The Board is conducting an internal and external search for a CEO.


Layne Christensen, The Woodlands, TX                                                    Revenues: $859.3m
Layne Christensen Company is a global water management, construction and drilling company.
June 2014 - Layne Christensen’s CEO Rene J. Robichaud has resigned. David A.B. Brown, Layne's non-executive Chairman, has been appointed to serve in the additional capacities of President and CEO. The Board will engage an executive search firm to identify Robichaud's successor.

Cash America International, Fort Worth, TX                                           Revenues: $1.79b
Cash America International provides specialty financial services to individuals through retail services locations and through electronic distribution platforms known as e-commerce activities.
July 2014 - Cash America International announced that its president and CEO, Daniel R. Feehan, 63, intends to retire. The Board of Directors has appointed a special committee, chaired by James H. Graves, the Chairman of the Management Development and Compensation Committee, to lead a search for a successor CEO.

Texas Gulf Energy, La Porte, TX                                                       Revenues: $9.5m
Texas Gulf Energy focuses on providing construction services to the downstream energy business.    

August 2014 - Rilene Burgess resigned from her position as President and CEO of Texas Gulf Energy. Karim Ayed, the Company’s Chairman, will assume the duties of Interim President and CEO pending the identification and election of Burgess’ replacement.

EZCORP, Austin, TX                                                                               Revenues: $1.0b
EZCORP is engaged in delivering instant cash solutions to customers across channels, products, services and markets.    

August 2014 - EZCORP, a leading provider of easy cash solutions for consumers, announced that CFO Mark Kuchenrither has been appointed interim CEO and President by MS Pawn Limited Partnership, which is the Voting Shareholder and the beneficial owner of 100% of EZCORP's outstanding Class B Voting Common Stock. Kuchenrither will remain CFO.

Washington, D.C.

Pepco Holdings, Washington, DC                                                            Revenues: $5b
Pepco Holdings is engaged primarily in the transmission, distribution and default supply of electricity and the distribution and supply of natural gas.
January 2014 - Pepco Holdings announced that Chairman, President and CEO Joseph M. Rigby has notified to retire from PHI in the first half of 2015. To provide for a smooth transition, Rigby will step down as CEO near the end of 2014, following the selection of his successor.


Canadian Imperial Bank of Commerce, Toronto, Ontario                         Revenues: $10.69b
Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. CIBC serves its clients through three strategic business units (SBUs): Retail and Business Banking, Wealth Management, and Wholesale Banking.
April 2014 - Canadian Imperial Bank of Commerce’s CEO Gerry McCaughey will retire effective April 30, 2016.
The actual date of Mr. McCaughey's retirement will be completed upon completion of the succession process.

Vitran Corporation, Toronto, Ontario                                                      Revenues: $702.9m
Vitran provides freight surface transportation and related supply chain services in Canada and United States.
April 2013 - Vitran Corporation announced that its Board of Directors has appointed Bill Deluce, a current member of the board, as interim President and CEO following the resignation of Rick Gaetz as President and CEO and a Director of the Company, effective immediately.

Rockbridge Resources, Vancouver, BC                                                   Revenues: $288.03m
RockBridge Resources engages in the acquisition and development of oil and natural gas resource properties in Canada.

June 2013 - Canadian junior RockBridge Resources is in the hunt for a new boss after its President and CEO quit. Mike O’Byrne is vacating the top seat “to focus on his own business endeavours” but will remain on the board, the Vancouver-based explorer said. Current director Stephen Mathiesen, a business lawyer and partner with Lang Michener, will step in on an interim basis.

TMX Group Ltd., Toronto, ON                                                                   Revenues: $773m
The TMX Group owns and operates stock exchanges, the Toronto Stock Exchange (TSX), and the TSX Venture Exchange (TSX-V), formerly known as the Canadian Venture Exchange (CDNX), the Montreal Exchange, the Natural Gas Exchange and the Boston Options Exchange.
March 2014 - Canada's leading exchange, TMX Group Ltd., is looking for a new leader, following the news that CEO, Thomas Kloet, intends to retire from the firm at the end of August.

Martinrea International, Toronto, ON                                                  Revenues: $2.9b
Martinrea International is engaged in the production and development of quality metal parts, assemblies and modules, fluid management systems and complex aluminum products focused primarily on the automotive sector.
March 2014 - Metal parts maker Martinrea International's president and CEO, Nick Orlando, will step down from his role. The company said it would conduct a search for a new president and CEO immediately, with executive chairman Rob Wildeboer noting some personal health issues of Orlando during his tenure.

Neptune Technologies & Bioressources, Quebec, Canada                        Revenues: $18.1m
Neptune Technologies & Bioressources (Neptune) is a biotechnology company engaged primarily in the development and commercialization of marine-derived omega-3 polyunsaturated fatty acids

June 2014 –Neptune Technologies & Bioressources, Acasti Pharma and NeuroBioPharm jointly announce the appointment of CFO Andre Godin as interim President and CEO of Neptune, Acasti and NeuroBio with immediate effect.

Coast Capital Savings Credit Union, Surrey, BC                                          Revenues: NA

Coast Capital is Canada’s second-largest credit union, with 512,000 members and 50 branches in Metro Vancouver, the Fraser Valley and on Vancouver Island.

July 2014 –Coast Capital Savings Credit Union’s president and CEO Tracy Redies has quit the Vancouver-based financial institution after five years in the top job. CFO Don Coulter has been appointed interim CEO.

Manitoba Telecom Services, Winnipeg, MB                                          Revenues: $1.5b

Manitoba Telecom Services is a communications provider.

August 2014 – The CEO of Manitoba Telecom Services Inc. is planning to retire later this year and the Winnipeg company has started to look for a new leader. CEO Pierre Blouin will stay on until a new CEO has been appointed and will help with the transition process.

Other International

Mulberry Group, Chilcompton, UK                                                       Revenues: $165.1m
Mulberry Group is engaged in the design and manufacture or sourcing of luxury accessories, clothing and footwear and their subsequent sale through wholesale channels or its own stores and concessions in home and export markets.
March 2014 - Bruno Guillon, the CEO of English luxury brand Mulberry, has stepped down from his role less than two months after the retailer issued a profit warning. Godfrey Davis, who is currently non-executive chairman and was previously CEO, will become executive chairman until a successor is found.

Polyus Gold International Limited, London, UK                                     Revenues: $2.84b
Open Joint Stock Company Polyus Gold, together with its subsidiaries, engages in the extraction, refining, and sale of gold.
November 2013 - Polyus Gold International Limited announces that Mr. Pavel Grachev, a member of the Board of Directors, has taken on the added responsibilities of interim CEO of the Company until a successor is elected, and Mr. German Pikhoya has now resigned as CEO and Director of the company with immediate effect.

Kingfisher Airlines, Mumbai, India                                                          Revenues: $5.01b
Kingfisher Airlines Ltd is engaged in rendering scheduled and unscheduled aircraft passenger and cargo services, including charter services.
February 2014 - Kingfisher Airlines CEO Sanjay Aggarwal put in his papers, with no replacement announced.

        Basil Read Holdings Limited, Boksburg, South Africa                                 Revenues: $600.7m
Basil Read Holdings Limited is a South Africa-based construction company.
March 2014 - Basil Read CEO Marius Heyns has advised the group's board of his intention to retire. Terence Desmond Hughes, the managing director of Basil Read Developments, has been appointed as interim CEO with effect from 1 June 2014. 

Bacardi Limited, HAMILTON, Bermuda                                                          Revenues: NA
Bacardi is the largest privately held spirits company in the world.
April 2014 - Bacardi Limited announced the departure of president and CEO Ed Shirley. Interim CEO is Michael J. Dolan who will serve until a successor is appointed.

AGL Energy, Sydney, Australia                                                          Revenues: $9.7b
AGL is engaged in buying and selling of gas and electricity; construction and/or operation of power generation and energy processing infrastructure; development of natural gas production and storage facilities, and exploration, extraction, production and sale of coal seam gas (CSG).
May 2014 - AGL Energy CEO Michael Fraser will retire by the end of June, 2015. The company's board had started a selection process for a replacement and would consider both internal and external candidates.

Bayer, Leverkusen, Germany                                                                Revenues: $54.6b
Bayer AG is a German management holding company with core competencies in the field of health care, nutrition and high-tech materials.
June 2014 - Bayer AG CEO Marijn Dekkers will step down at the end of 2016, setting up a contest for the top job at one of Germany’s largest companies. Chief Financial Officer Werner Baumann, 51, will become chief strategy and portfolio officer, and Johannes Dietsch, 52, a senior manager of Bayer’s Chinese operations, will become CFO.

Barclays Wealth and Investment Management, London, England                Revenues: NA   Barclays Wealth and Investment Management is division of the Barclays Group. It is a leading global wealth manager providing private banking, investment management, brokerage and fiduciary services to private clients and financial intermediaries all over the world.

June 2014 - Barclays Wealth's CEO Peter Horrell is set to leave the company. the bank is looking for a replacement.

VTB Capital International, Moscow, Russia                                        Revenues: NA  

VTB Capital offers a full range of investment banking products and services to Russian and international clients. VTB Capital International is the overseas business unit of VTB Capital.

July 2014 - VTB Capital International CEO Atanas Bostandjiev, who heads overseas operations at Russia’s biggest investment bank, will be leaving. CFO Nick Hutt has been appointed interim CEO of the unit.

Norsk Hydro, Oslo, Norway                                                                       Revenues: $10.4b

Norsk Hydro ASA is a Norway-based company engaged in a number of activities along the aluminum industry’s value chain.

July 2014 - The CEO of aluminum producer Norsk Hydro, Svein Richard Brandtzaeg, is leaving the company to head fertilizer maker Yara. The process to find a replacement for Brandtzaeg has started, and a new President and CEO for Hydro will be announced in due time.

Karstadt, Essen, Germany                                                                                Revenues: NA

Karstadt is a chain of up-market department stores in Germany.

July 2014 - Eva-Lotta Sjöstedt resigned from her CEO post of the German department store chain Karstadt. For the time being, Chief Financial Officer Miguel Müllenbach would take over the running of the retailer.

Eniro, Solna, Sweden                                                                       Revenues: $531.1m
Eniro AB is a Sweden-based company engaged in the provision of search and directory products and services.
August 2014 - Eniro AB has appointed Stefan Kercza, currently President of Eniro Denmark and acting President of, as acting President and CEO of the company.

Deloitte, London, U.K.                                                                               Revenues: NA
Deloitte is one of the "Big Four" professional services firms.
August 2014 - Deloitte CEO Joe Echevarria has announced he plans to retire by the end of August to pursue his interest in public service. Current CFO Frank Friedman has been appointed by Deloitte’s board to assume Echevarria’s position immediately until the firm completes its formal leadership election, which is currently under way.

Net-a-Porter Group, London, U.K.                                                                        Revenues: NA
Net-a-Porter is a high-fashion retailer that operates via a website designed in the style of a magazine. It was launched in London in 2000 by Natalie Massenet.
August 2014 - Longtime CEO Mark Sebba is set to retire, but his successor has not yet been named.

CEOs Appointed


Walmart U.S.:  Walmart China CEO Greg Foran, 53, has been promoted to President and CEO of Walmart U.S. Foran succeeds Bill Simon. 


Theravance: CFO Michael W. Aguiar is now President and CEO, replacing Rick E Winningham.

Sapphire Energy: The algae energy technology developer named former CEO of Verenium, James Levine, as President, CEO & director, replacing Cynthia 'CJ' Warner, who remains Chairman.


Molson Coors Brewing Company: The company appointed Molson Coors Europe’s CEO Mark R. Hunter as the Company's CEO and President, to replace Peter S. Swinburn. 


Home Depot: Craig Menear, currently president, U.S. retail, has been named CEO and president. Current chairman and CEO Frank Blake will remain chairman.


MGP Ingredients: Beverage alcohol industry executive Gus Griffin appointed as president and CEO of the company.


Synta Pharmaceuticals: President, North America Pharmaceuticals, at Sanofi, Anne Whitaker will join Synta as President, CEO and Director.


Appliance Recycling Centers of America: Edward (Jack) Cameron is retiring as CEO and that COO Mark Eisenschenk has been promoted to fill the position.


Target: Target named PepsiCo executive Brian Cornell as its new CEO. Most recently, CEO of PepsiCo Americas Foods.


Gordmans Stores: Stage Stores’ CEO Andrew T. Hall is now president and CEO, succeeding T. Scott King, Gordmans' Chairman, who has been serving as interim president and CEO since March 2014.


Southwest Gas Corporation: John P. Hester is appointed President and will replace Jeffrey W. Shaw as CEO, upon Shaw's retirement.

Clean Enviro Tech Corp: The Board appointed Liudmilla Voinarovska as CEO, to replace Gordon F. Lee, who had been appointed as Interim CEO in connection with the proposed acquisition of the Company by Red Apple Pharma, which acquisition has been terminated.

Altair Nanotechnologies: The company appointed insider James T. Zhan, 47, as CEO.

New Jersey

Suburban Propane Partners: Michael A. Stivala, President, will assume the role of President and CEO, replacing Michael J. Dunn, Jr.

New York

Tiffany & Co.: The Board has named the company’s President, Frederic Cumenal, to succeed Michael J. Kowalski as CEO.

Aeropostale: Julian R. Geiger has rejoined the Company as CEO, replacing Thomas P. Johnson, who will step down.


Cliffs Natural Resources: The company appointed Lourenco Goncalves, former CEO of Metals USA Holdings Corp., as new CEO, succeeding Gary Halverson.

Express, Inc.: David Kornberg will assume the role of CEO in addition to his current responsibility as the Company's President, replacing Michael Weiss.


Galena Biopharma: EVP & COO Mark W. Schwartz, Ph.D., has been appointed as President and CEO, replacing Mark J. Ahn, Ph.D.


Harsco: COO F. Nicholas Grasberger is the Company's new President and CEO.

GNC Holdings: GNC appointed senior retail industry executive Michael G. Archbold, 53, as CEO and member of the Board, replacing Joseph M. Fortunato.


CIM Commercial Trust: Charles E. Garner II, a Principal at CIM Group, the manager of CIM Commercial Trust, is now CEO.


Owens & Minor: President & COO James L. Bierman, 61, to serve as President & CEO and a director of the company.


Dendreon: The company appointed former Discovery Labs’ CEO W. Thomas Amick as president and CEO, succeeding John H. Johnson.


Brady Corporation: Brady appoints J. Michael Nauman as President, Chief Executive Officer and Director, from Molex.

MGIC Investment Corp.: MGIC promoted COO Patrick Sinks to CEO.

Bemis: William F. Austen, 55, has been elected President and CEO, succeeding Henry J. Theisen, 60.


Canadian Imperial Bank of Commerce: CIBC selected its Senior EVP CIBC and Group Head, Wealth Management, Victor Dodig, as the bank's next President and CEO, succeeding Gerry McCaughey, who will retire.

Canadian Tire Corp. Ltd.: The company names president Michael Medline to replace Stephen Wetmore as CEO.

Turner Valley Oil & Gas: Stephen C. Helm, CFO for New Regional Planning, is now CEO and Chairman of Turner Valley Oil & Gas.

Other International 

Tesco: Dave Lewis, current president of the personal care unit at Unilever, will join Tesco succeeding CEO Philip Clarke.

Capital Product Partners: The Greece based tanker company named Petros Christodoulou, deputy CEO of National Bank of Greece, as CEO and CFO, replacing Ioannis Lazaridis.

LiqTech International: Finn Helmer will be stepping down as CEO of the Denmark based company, replaced by Sune Mathiesen, currently CEO of recently acquired company Provital Solutions.

Recent Vell Placements

For Specific bios and announcements, please refer to Vell Website 

Fleetmatics (FLTX), Fleet Management Software for SMB (SaaS)  - Board members  (4)

Carbonite (CARB), Online Backup for SMB (SaaS) - Board Members (2)    

 mHealth Software CEO (Announcement being made)

CIO, Univision  

$1b CFO  Media Company

$60m SaaS to Retail Industry Company: VP North America (now SVP Sales)  

VP Product Management, $120m SaaS Co.      

Chief Technology Officer (CTO) and Chief Product Officer (CPO), $100m Mortgage Software company    

VP & GM, Transportation and Logistics Software (SaaS, large public co.)

VP & GM, SMB (SaaS, large public co.)

CMO, SaaS Software Company 

        Vell Team

Dora Vell - Managing Partner

Paula Axelrod – Vice President

Judy Smith - Senior Consultant

Dal Coger – Senior Consultant

Ajanta Banerjee – Research Consultant

Tori Agel – Marketing Coordinator


Read 19349 times Last modified on Friday, 14 August 2020 13:55

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