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Monday, 20 October 2014 00:32

85 Open CEO Spots and 49 New CEO Appointments in the Past 30 Days‏ Featured

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Vell Compiles Open CEO Roles and Placements in the Past Month
PREPARED BY: Vell Executive Search
DATE: August 22 to September 18, 2014

I cannot believe the Summer is over. There seems to be a lot of activity picking up with CEO turnover. 85 CEO roles are open and 49 CEOs were appointed in the last month. Technology continues to source CEOs through external sources while other industries tend to prefer internal promotions. Out of 49 appointments, only three were women.  

This newsletter covers open CEO roles and latest appointments, in the tech  sector and overall in the thirty days ended September 18th, 2014.

Technology Industry:

New Tech CEO Openings: Three - Single Touch Systems (NJ), EMCORE (NM), and TeleCity Group (U.K)

Total Tech CEO Roles Open: 16

New Tech CEO Appointments: 14

Sources of Tech CEO Appointments: 9 external; 5 internal promotions – President (1), iCEO (1), Co-Founder(1), and others (2)

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

Gender Diversity: One of 14 CEOs appointed was a woman (eHealth Ontario)

All Other Industries:

New CEO Openings (other industries): 13 - Landec (CA), Hertz Global Holdings (FL), Landauer (IL), Rubicon Technology (IL), Atlantic Power (MA), Vitamin Shoppe (NJ), Delcath Systems (NY), DDR Corp. (OH), Polonia Bancorp (PA), Willbros Group (TX), Era Group (TX), Alco Stores (TX), and Galliford Try (U.K)

Total CEO Roles Open: 69 (other industries)

New CEO Appointments: 35 (other industries)

Sources of Appointments (other industries): 13 were external appointments; 22 were internal promotions – COOs (6), Presidents (3), CFOs (2), iCEOs (2), divisional execs (2), former employees (2), others (5)

Geographic Distribution of new CEO Appointments (other industries): US (14), and International (7)

Gender Diversity(other industries): two women were appointed as CEO (Bon-Ton Stores and BioForward)

Overall CEO changes declined 24% from August a year earlier, and the month to month turnover from July 2014 to August 2014, CEO changes declined 30%. Because our newsletter is mid-month and this data is from August, I believe that we will see a pick up in the turnover when the September data becomes available.

For more details, please refer to sections below on Tech CEOs wanted, Tech CEOs Appointed and Non-Tech CEOs Wanted, Non-Tech CEOs Appointed.

Other recent Vell Leadership Updates: Tech Company Director Appointments, Tech Directors in Corporate Boards, Giant Tech Companies Latest Appointments.

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

Tech 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.

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.

New Jersey

Single Touch Systems, Jersey City, NJ                                                         Revenues: $7.8m
Single Touch
Systems offers its patented technologies through a modular, adaptable platform and a multi-channel messaging gateway to its customers, enabling them to reach consumers on all types of connected devices.

September 2014 - Single Touch Systems announced that Jerry Hug has been appointed as the company's interim CEO. Hug, previously Single Touch's EVP of Corporate Development, replaces James Orsini, who departs on September 19, 2014 to pursue other opportunities.

New Mexico

EMCORE, Albuquerque, NM                                                         Revenues: $168.1m
EMCORE offers a portfolio
of compound semiconductor-based products for the broadband, fiber optics, space and solar power markets.

September 2014 - Dr. Hong Q. Hou, EMCORE's President and CEO, will be stepping down from his position. Dr. Hou will continue to serve in his current role until his successor is appointed. The Board has formed a search committee which has been granted the authority to identify, consider, assess, evaluate, research, and recommend to the entire Board the candidates for the position of CEO.


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.

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.

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 announced 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.

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.

TeleCity Group, London, U.K.                                                           Revenues: $529.6m
TeleCity Group is a provider of network-independent data centers providing colocation and related data centre services.

September 2014 - Michael Tobin, who had led the FTSE 250 group for a decade, will leave the company at the end of October, with chairman John Hughes taking over executive responsibilities while a replacement is found.

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


Tigerlogic: Brad Timchuk has been promoted to CEO and Justin Garrity as President, following the retirement of Richard W. Koe, who was the software infrastructure products company’s CEO and President since 2009.

Hightail: The cloud storage and file-sharing company formerly known as YouSendit, appointed its co-founder Ranjith Kumaran, as the new CEO, replacing Brad Garlinghouse. 

Unitas Global: The enterprise cloud provider named Patrick Shutt as its new CEO. Shutt was the cofounder of Universal Access, and also co-founded 20/20 Technologies (now Global Capacity).

HireRight: The provider of online employment background checks, drug and health screening, named John Fennelly, formerly head of the wealth management division of Thomson Reuters, as CEO.

Evite: Online event invitation site Evite has named Victor Cho as CEO, who was most recently President and CEO of Kodak Gallery.


Thinspace Technology: The provider of application delivery, virtualization and cloud client technology has appointed Infosys US Principal Jay Christopher (Chris) Bautista as its CEO.


AT&T Mobility: AT&T's Glenn Lurie will succeed Ralph de la Vega as President and CEO of AT&T Mobility.



DigiPath: MicroPlanet Technology’s CEO Joe Tanner has been appointed president and CEO and will continue as executive chairman of digital pathology solutions company DigiPath.


Alteva: Alteva announced that its board member and iCEO Brian J. Kelley, 62, has been appointed as the CEO. He is former CEO of VoIP communications equipment company snom Technology.a


Rackspace: Rackspace’s new CEO is Taylor Rhodes, the company’s president, who joined in 2007. He replaces Graham Weston, the company’s largest shareholder who stepped in following the unexpected departure of Lanham Napier earlier this year.



Digital Fortress: Matt Gerber has been named the President and CEO of the Seattle-based retail services colocation provider. Most recently EVP of Sales at 2nd Watch.

Evo Media Group: Ed O’Keefe has joined as the company’s new CEO. Former CIAmedia, Telmetrics and European Directories Group.


eHealth Ontario: Deputy Minister of Labour Cynthia Morton assumed a new role as President and CEO of eHealth Ontario.

Other International

VKontakte: Russia's biggest social network VKontakte appointed its iCEO Boris Dobrodeyev as CEO as it seeks a fresh start following months of internal squabbling.


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.


Landec Corporation, Menlo Park, CA                                                     Revenues: $476.8m
Landec Corporation develops
polymer products for food and agricultural products, medical devices and licensed partner applications that incorporate Landec's polymer technologies.

September 2014 - Landec Corporation announced that it’s Chairman and CEO, Gary T. Steele, plans to retire on May 31, 2015 at the end of Landec's fiscal year. Mr. Steele has agreed to remain on the Board of Directors as a director, but not as Chairman after his retirement. The search committee of the company has engaged JM Search, of Philadelphia, PA to begin the search process for Steele's successor and the process will consider both external and internal candidates.


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.

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.

Hertz Global Holdings, Naples, FL                                                         Revenues: $10.8b
Hertz Global Holdings
is a holding company. Its business operates in two segments: rental and leasing of cars, crossovers and light trucks (car rental), and rental of industrial, construction and material handling equipment (equipment rental).

September 2014 - Hertz Global Holdings announced that Mark Frissora has stepped down for personal reasons as the Company's Chairman and CEO. Hertz appointed Brian P. MacDonald, President and CEO of Hertz Equipment Rental Corporation (HERC), to serve as interim CEO of Hertz. The Hertz Board has initiated a search process to identify a permanent CEO, with the assistance of an executive search firm. Internal and external candidates will be considered.


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.


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.

Landauer, Glenwood, IL                                                                        Revenues: $150.2m
Landauer is a provider of technical and analytical services to determine occupational and environmental radiation exposure.

September 2014 - Radiation monitoring firm Landauer said that President and CEO William Saxelby will step down next month to be replaced on an interim basis by Michael Leatherman. Leatherman has been a member of the firm's board of directors since 2008.

Rubicon Technology, Franklin Park, IL                                                  Revenues: $41.5m
Rubicon Technology
manufactures synthetic electronic materials for opto-electronic, semiconductor fabrication, telecommunications, and optical & laser applications.

September 2014 - Rubicon Technology has appointed William Weissman, currently CFO, as interim CEO, replacing Raja Parvez. Chairman Don Aquilano will lead a search for a permanent CEO with the assistance of a leading executive search firm.


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.

Atlantic Power, Boston, MA                                                                         Revenues: $551.7m
Atlantic Power owns and operates a fleet of power generation and infrastructure assets in the United States and Canada

September 2014 - Atlantic Power's Board of Directors also announced today that it has appointed Director Ken Hartwick, 51, as Interim President and CEO effective immediately, following the mutual agreement for Barry Welch to step down as President, CEO and a Director of the Company. The Board has commenced a process to identify and evaluate candidates to serve as the Company's next President and CEO and will promptly engage a leading executive search firm to assist in the process.


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.

Vitamin Shoppe, North Bergen, NJ                                                  Revenues: $1.1b
Vitamin Shoppe
is a specialty retailer and direct marketer of vitamins, minerals, herbs, specialty supplements, sports nutrition and other health and wellness products.

September 2014 - CEO Tony Truesdale announced his intent to retire on June 27, 2015 to spend more time with his family and his external Board work. The Board of Directors of the Vitamin Shoppe will be commencing a search for a new CEO, which will include both internal and external candidates.

New York

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.

Delcath Systems, New York, NY                                                          Revenues: $490.0K

Delcath is a specialty pharmaceutical and medical device company, focused on oncology, initially cancers in the liver.

September 2014 – Delcath Systems announced the reorganization of the Company's leadership as Dr. Jennifer Simpson has been appointed interim President and interim CEO. Dr. Simpson has served as interim Co-President and interim Co-CEO of Delcath since September 2013.


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.

DDR Corp., BEACHWOOD, OH                                                                       Revenues: $ 895.6m                                                                                   DDR is an owner and manager of 396 shopping centers representing 108 million square feet in 39 states and Puerto Rico. 

September 2014 - DDR Corp. announced that CEO Daniel B. Hurwitz and the Board of Directors have agreed not to renew his employment agreement, which expires December 31, 2015. A committee of the Board will engage an executive search firm and consider internal and external candidates to succeed Hurwitz.


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

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

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.

Polonia Bancorp, Huntingdon Valley, PA                                                           Revenues: $13.1m
Polonia Bancorp is a savings and loan holding institution.

September 2014 – Anthony
J. Szuszczewicz advised the Board of Directors that he is retiring as President and CEO. CFO Paul D. Rutkowski will serve as CEO on an interim basis while the Board of Directors conducts a search for a permanent President and CEO.


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.

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.

Willbros Group, Houston, TX                                                                           Revenues: $2.01b
Willbros is a
full service engineering and construction company specializing in energy infrastructure serving the oil and gas and power industries.    

September 2014 - Robert R. Harl, who joined Willbros in 2006 and has served as CEO of the Company since January 2007, is retiring as CEO and director when his current employment agreement expires on January 2, 2015. The Willbros board is continuing its search to identify a successor to Harl.

Era Group, Houston, TX                                                                                   Revenues: $299m
Era Group is engaged in helicopter operations worldwide. The Company’s helicopters are primarily used to transport personnel to, from and between offshore installations, drilling rigs and platforms.    

September 2014 - Sten L. Gustafson has resigned as CEO and director. The Board has named Christopher S. Bradshaw, Era's EVP and CFO, as Acting CEO, while the Board identifies a permanent CEO to replace Gustafson.

Alco Stores, Coppell, TX                                                                                 Revenues: $474.1m
Alco Stores is engaged
in the business of retailing general merchandise throughout the central portion of the USA through a range of department store outlets.    

September 2014 - Alco Stores announced at a Company Town Hall Meeting that Director Stanley B. Latacha will assume the role of Interim CEO effective immediately.

Washington, DC

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.

Galliford Try plc, Uxbridge, U.K.                                                                        Revenues: $2.9b
Galliford Try plc is a United Kingdom
-based housebuilding and construction company.
September 2014 - British builder Galliford Try said its CEO Greg Fitzgerald would retire no later than the end of 2015, and its board had begun a process to appoint his successor after 33 years at the company.

Other Industry CEOs Appointed


Trans World Entertainment Corporation: Vanity Stores’ CEO Michael Feurer joins as CEO of Trans World Entertainment. 

BIOLASE: iCEO Jeffrey M. Nugent has been named President and CEO.

The Wet Seal: Edmond Thomas is rejoining the Company as CEO of the women's apparel retailer, replacing John D. Goodman.

NTN Buzztime: Active Network’s SVP & GM, Ram Krishnan joins NTN Buzztime as CEO and Director.

Agilent Technologies: CEO Bill Sullivan will step down in 2015 but will remain an adviser before retiring in October 2015. SVP Mike McMullen will become CEO of the testing-equipment company.


Einstein Noah Restaurant Group: McAlister’s Deli’s CEO Frank G. Paci is now President and CEO, succeeding Michael Arthur who filled the position on an interim basis since February 2014.


Lighting Science: CEO and President at Video IQ, Edward Bednarcik, joins Lighting Science as CEO.


Hawaiian Electric Company: Hawaiian Electric Co. has named its former executive Alan Oshima its new president and CEO. He will succeed Dick Rosenblum.


Churchill Downs: The company named COO William C. Carstanjen as the Company's 12th CEO, a position held by Robert L. Evans since 2006.


Insulet Corporation: Former Cytyc CEO Patrick J. Sullivan has been appointed President and CEO, and Director, succeeding Duane DeSisto, who is retiring.

Gordon Brothers Group: The company which advises retailers and other businesses on store closings, asset disposals, debt and other issues, named Kenneth Frieze as CEO, succeeding his father, Michael Frieze, who will remain the company’s chairman and chief investment officer.


Gordmans Stores: Former Stage Stores’ CEO Andrew T. Hall, 53, joins as president and CEO, succeeding T. Scott King, Gordmans' Chairman, who has been serving in the interim.

New Jersey

Hudson City Bancorp: COO Denis J. Salamone was appointed CEO, in accordance with the Company's plan of succession. Salamone succeeds Ronald E. Hermance, Jr. who passed away.

New York

Assurant: EVP, Marketing and BD Alan Colberg named President with immediate effect and will take over as CEO at the beginning of next year, replacing Robert Pollock, who stated his plans to retire. 

AIG: American International Group named AIG Property Casualty CEO Peter D. Hancock, 56, as President and CEO, succeeding Robert H. Benmosche, who retired. 

Vicon Industries: Eric Fullerton, formerly Chief Sales and Marketing Officer of Milestone Systems A/S, will succeed Kenneth M. Darby as CEO and as a Director of Vicon.

Hitachi America: Divisional VP Masaya Watanabe is now president and CEO, succeeding Kenji Nakamura, who has been appointed advisor to CMO, Corporate Sales & Marketing Group of Hitachi.

North Carolina

CommunityOne Bancorp: Brian Simpson, 51, steps down as CEO, replaced by President, Bob Reid, 58. 

Horizon Lines: The domestic ocean shipping company elected iCEO Steven L. Rubin to serve as President and CEO.


Luxottica Group: Finance chief Enrico Cavatorta will become CEO, and a co-CEO to be appointed from outside Luxottica at a later date, replacing Andrea Guerra.


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


Bon-Ton Stores: Bon-Ton Stores named Kathryn Bufano, Belk’s President and Chief Merchandizing Officer, as its next president and CEO.


Washington D.C.

Danaher Corporation: Thomas P. Joyce, Jr. is now President and CEO, replacing H. Lawrence Culp, Jr., who will transition to a senior advisory role.



BioForward: The trade organization for Wisconsin's bioscience industry hired Laura Bray as its new CEO. She is former executive director of Menomonee Valley Partners, and succeeds Bryan Renk, who stepped down from the organization's top job in July.


International Paper: President & COO Mark S. Sutton has been elected CEO and chairman, replacing retiring Chair & CEO John V. Faraci.

TeamHealth Holdings: President Michael D. Snow is now president, CEO and board member.

MRI Interventions: Medical device veteran Frank Grillo will become the company's new CEO. Grillo will join MRI Interventions as President on October 6, 2014 and will become CEO on January 1, 2015.


Tesco Corporation: Julio M. Quintana, President and CEO, has elected to retire at the beginning of January, 2015, being replaced by Fernando R. Assing, currently EVP and COO.


Other International

Group Danone: Danone split its chairman’s dual roles, appointing veteran executive Emmanuel Faber to CEO while Franck Riboud remains chairman.

Delphi Automotive: Auto supplier Delphi Automotive’s CEO and president Rodney O’Neal will retire March 1 2015 and be replaced by the company’s CFO Kevin P. Clark.

Pandora: Danish jewellery retailer Pandora said Anders Colding Friis, the boss of Scandinavian Tobacco Group, would become its new CEO from March 2015.  

Aspen Re: Aspen Insurance Holdings Limited appoints Stephen Postlewhite, previously Aspen’s Chief Risk Officer, as CEO of Aspen Re, the Company’s reinsurance business, succeeding James Few. 

Wholesale One: Altisource Portfolio Solutions S.A. has launched Wholesale One, a new cooperative for the wholesale mortgage industry. Mortgage industry veteran and former Citigroup, Wells Fargo and JPMorgan exec, Greg Murray, is appointed CEO. 

Aston Martin: Andy Palmer, the chief planning officer at Nissan Motor, has been appointed CEO of UK sports-car maker Aston Martin.

Tata Technologies Ltd: The global engineering and product development company has appointed its COO Warren Harris as CEO and managing director of the company, replacing Patrick McGoldrick, who is retiring after spending 20 years in the role. 

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 4888 times Last modified on Friday, 14 August 2020 13:54
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,, 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.

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