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Monday, 03 November 2014 08:55

80 Open CEO Spots and 54 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

I hope that you are enjoying the Fall. We are seeing continuing strong interest in new CEOs. Many tech giants are breaking up, hence we expect the creation of more leadership opportunities.

This newsletter covers open CEO roles and latest appointments, in the tech sector and overall. The period of time covered are the 30 days ending on October 20th, 2014.

First three quarters of the year, CEO Turnover numbers, according to Liberum are as follows:















This puts 2014 slightly below the average of 1599 and below the mean of 1640.

Technology Industry

New Tech CEO Openings: Two - Unisys (PA) and OI S.A. (Brazil)

Total Tech CEO Roles Open: 14

New Tech CEO Appointments: 13 (includes one Co-CEO appointment)

Sources of Tech CEO Appointments: 3 external; 8 internal promotions –iCEO (3), COO (2), Divisional Heads (2), Co-Presidents named Co-CEOs (1), CTO named Co-CEO (1)

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

Gender Diversity: Two of 13 CEOs appointed were women (Oracle’s Co-CEO, and Advanced Micro Devices’ CEO).

All Other Industries

New CEO Openings (other industries): 10 STAAR Surgical (CA), Glacier Bancorp (MT), Coty (NY), West Pharmaceutical Services (PA), The Pep Boys: Manny, Moe & Jack (PA), EXCO Resources (TX), Sears Canada (Canada), Statoil (Norway), LyondellBasell Industries (Netherlands), Luxottica Group (Italy)

Total CEO Roles Open: 66 (other industries)

New CEO Appointments: 41 (other industries)

Sources of Appointments (other industries): 13 were external appointments; 28 were internal promotions – Divisional Execs (6), COOs (6), Presidents (4), CFOs (3), iCEOs (3), former CEO (1), others (5)

Geographic Distribution of new CEO Appointments (other industries): US (33), Canada (2) and International (6)

Gender Diversity(other industries): two women were appointed as CEO (Fidelity Investments and Oiltanking Partners)

CEO turnover for September 2014 declined 17% from that of September 2013. The the month to month change from August 2014 to September 2014 was a bit more positive, as the CEO turnover increased 11%.

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


Dora Vell

Vell Executive Search
 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 & Appointed in the Tech Industry


Tech CEOs Wanted         


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.


Unisys, Blue Bell, PA                                                                        Revenues: $3.5b
Unisys is a worldwide information technology company. We provide a portfolio of IT services, software, and technology that solves critical problems for clients.

October 2014 - J. Edward Coleman, Chairman and CEO will be leaving the company. The board of directors has engaged an executive search firm, to conduct the search for Coleman's replacement.

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.

OI S.A., Rio De Janeiro, Brazil                                                        Revenues: $11.63b                         Oi SA, formerly Brasil Telecom SA, is a Brazil-based holding company engaged in the provision of Switched Fixed-line Telephony Services (STFC) domestically and internationally.

October 2014 - Zeinal Abedin Mahomed Bava resigned from his position as CEO of the Company. CFO Bayard De Paoli Gontijo will exercise the CEO functions, until the Board of Directors resolves upon the appointment of a replacement for the position of CEO.

         Tech CEOs Appointed 


JDA Software Group: Chairman and iCEO Baljit S. Dail has been named Chairman and CEO.


Oracle: Both Safra Catz and Mark Hurd were promoted to the position of Co-CEOs, as Larry Ellison becomes Executive Chairman.

eBay Inc.: President of eBay’s Marketplaces division Devin Wenig will be CEO of eBay Inc., after PayPal split.

PayPal: AmEx’s group president of enterprise growth Dan Schulman joins PayPal as President and will lead newly independent PayPal as CEO, which separates from eBay.

Symantec: Board Member and Interim President and CEO Michael A. Brown has been named CEO permanently.

Advanced Micro Devices: COO Lisa Su replaces Rory Read as president and CEO, as part of a transition plan.

Daegis: iCEO Timothy P. Bacci becomes permanent CEO.


Urban Airship:Former president of Citrix Online, Brett Caine, joined as President and CEO of Urban Airship.


GE Healthcare: Former president and CEO of GE India and a former senior leader at GE Capital John Flannery, 53, is now president and CEO of GE Healthcare succeeding John Dineen, 51, who is leaving GE.

New Jersey

Vonage Holdings: Google exec and Co-founder of Google acquired Quickoffice, Alan Masarek, replaces Marc Lefar, 50, as CEO.


Blue Calypso: CTO Andrew Levi will serve as Co-CEO along with William Ogle.

Other International

Top Image Systems: Current COO Michael Schrader has been promoted to the position of CEO. 

CEOs Wanted & Appointed - All Other Industries

         Other 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.

STAAR Surgical, Monrovia, CA                                                     Revenues: $72m
STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye.

October 2014 - Staar Surgical announced that Barry G. Caldwell, President & CEO, 64, will retire on March 1, 2015. The Board has initiated a search to identify Caldwell's replacement. The Board of Directors has appointed a special committee to begin an extensive search process for Barry's successor.


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.


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: $131.3mThe 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: $10.8bHertz 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 looking 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.


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.


Glacier Bancorp, Kalispell, MT                                                             Revenues: $321m
Glacier Bancorp is a regional multi-bank holding company. As of December 31, 2012, the Company provided commercial banking services from 108 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington.

October 2014 – Glacier Bancorp announced that it has retained Spencer Stuart to advise the Board of Directors on potential internal and external candidates for a successor to Michael J. Blodnick as President and 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.

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.

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.

Coty, New York, NY                                                                       Revenues: $4.5b                         Coty is engaged in manufacturing, marketing and distribution of women’s and men’s fragrances, color cosmetics and skin and body care related products globally.

October 2014 – Coty’s CEO Michele Scannavini has stepped down from his role, and Chairman Bart Becht will become interim CEO. The company intends to commence a search process for Scannavini's permanent successor immediately. Becht will remain as Chairman of the company once a permanent successor has been appointed.


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 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.

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.

West Pharmaceutical Services, Lionville, PA                                       Revenues: $1.3b
West Pharmaceutical Services is a global leader in innovative drug packaging and administration systems.

October 2014 - Donald E. Morel, Jr., Ph.D., Chairman and CEO, has announced his intention to retire at the Company's Annual Meeting in May 2015.  The West Board of Directors has retained Russell Reynolds Associates to launch a comprehensive search to identify Dr. Morel's successor.

The Pep Boys: Manny, Moe & Jack, PHILADELPHIA, PA                                Revenues: $2.06b
The Pep Boys: Manny, Moe & Jack, (branded as and commonly abbreviated as Pep Boys) is a full-service and tire automotive aftermarket chain.

October 2014 - The Pep Boys - Manny, Moe & Jack announced the resignation of President & CEO and Director Mike Odell, 50. Director John Sweetwood, 66, was named interim CEO.


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.

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. 

EXCO Resources, Dallas, TX                                                                    Revenues: $634.3m
EXCO Resources is an independent oil and natural gas company engaged in the exploration, exploitation, development and production of onshore the United States oil and natural gas properties with a focus on shale resource plays.    

October 2014 - EXCO Resources announced that it is continuing its search for a new Chief Executive Officer. EXCO is currently in various stages of discussions with candidates. In connection with such search, EXCO may consider acquiring oil and gas entities or properties owned by or affiliated with the candidate who is ultimately selected.

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.


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.

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: NACoast 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: $1.5bManitoba 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.

Sears Canada, Toronto, ON                                                                Revenues: $3.53b               Sears Canada is a multi-channel retailer.

October 2014 –CEO Douglas C. Campbell intends to depart from the company by the end of 2014 to take care of certain personal issues. EVP and chief merchandising officer and president of Sears and Kmart Formats, Ronald Boire, named Acting President and CEO. The retailer said it is continuing the search for a permanent replacement for Campbell, with Boire being a leading candidate in that 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.

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.

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.

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 and human resources officer Kai-Uwe Weitz 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.

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.

Statoil, Stavanger, Norway                                                                           Revenues: $94.7b     Statoil is a Norway-based integrated energy company primarily engaged in oil and gas exploration and production activities.

October 2014 - President and CEO Helge Lund has informed Statoil's board that he will resign, to take up the position as CEO of another international oil and gas company. The board has appointed Eldar Sætre as acting president and CEO of Statoil with immediate effect.

LyondellBasell Industries, Rotterdam, Netherlands                                     Revenues: $44.06b
LyondellBasell Industries N.V. is an independent chemical company.

October 2014 - LyondellBasell announced that CEO James L. Gallogly will retire from the company in early 2015. Gallogly will continue to serve as CEO and chairman of the LyondellBasell management board in the interim to ensure an orderly transition pending the selection of his replacement.

Luxottica Group SpA, Rotterdam, Italy                                      Revenues: $9.3b
Luxottica Group SpA is an Italy-based company engaged in optical industry. It designs, manufactures and distributes prescription frames, sports eyewear and sunglasses.

October 2014 - Luxottica Group SpA said founder Leonardo Del Vecchio will become interim CEO after the Italian maker of Ray-Ban glasses lost its second leader, CEO Enrico Cavatorta, in little more than a month. Del Vecchio, the company’s chairman, will take the helm until a pair of co-CEOs take over. Massimo Vian was appointed co-CEO of operations and product and the company is looking for a co-CEO of markets.

         Other Industry CEOs Appointed


Gap: Digital business head Art Peck, 58, takes over as the CEO, replacing Glenn Murphy, 52.

Oaktree Capital Group: A longtime AIG official Jay Steven Wintrob, 57, is joining bond powerhouse Oaktree Capital Group as its first CEO.

Thoratec: Former CEO of the company, D. Keith Grossman, 54, has been re-appointed President and CEO, succeeding Gary F. Burbach, 51.

Cohu: President of Cohu’s Semiconductor Equipment Group (SEG) Luis A. Mϋller named President and CEO, succeeding James A. Donahue who will retire.

Clorox: Clorox names Benno Dorer, 49, COO and EVP - Cleaning, International and Corporate Strategy, as CEO.

Cal INDEX: Oracle’s Global VP of Healthcare Product Strategy David Watson leaves to join Cal INDEX as CEO.


Advanced Energy Industries: Yuval Wasserman, President of the Thin Films Business Unit, was most recently promoted to president and CEO role.

SM Energy Company: CEO Anthony J. Best, 64, will retire. President and COO Javan D. Ottoson, 56, would replace Best as the company’s CEO.


Landstar System: CFO James B. Gattoni, 52, adds on CEO role.


AdCare Health Systems: Retired Chairman and CEO of Assisted Living Concepts, now Enlivant, William "Bill" McBride III, named CEO, President and board member.


Realty Capital Securities: Bill Dwyer, a recognized industry leader and LPL Financial exec, has been appointed CEO of the wholesale distributor of direct investment offerings.

Fidelity Investments: Abigail Johnson as CEO, president of FMR LLC, which is the parent company of Fidelity Investments, takes over CEO role from her father, Edward "Ned" Johnson.

Dynasil Corporation of America: iCEO Peter Sulick named CEO and President.

Cubist Pharma: COO Robert J. Perez will be CEO from the starting of next year.


Arotech Corporation: Robert S. Ehrlich stepped down as CEO and Steven Esses, Arotech's current President, took over the role of CEO.

Tecumseh Products Company: iCEO Harold Karp has been named President and CEO.


American Railcar Industries:President and iCEO Jeffrey S. Hollister, 46, named President and CEO.

Post Holdings: CFO Robert Vitale will lead Post Holdings as CEO and president as the company diversifies beyond its cereal roots.

Aegion: Board Member Charles R. “Chuck” Gordon appointed as President and CEO.

New Jersey

B&G Foods: B&G Foods selects its CFO Bob Cantwell as its next President and CEO.

Regado Biosciences: President Michael A. Metzger named to additional post of CEO and as a member of the Board.

New York

Fairway Group Holdings: Fairway Group Holdings named Jack Murphy, a seasoned retail executive, as CEO.

AIG: AIG named global consumer insurance leader Kevin Hogan as CEO of Life Unit, replacing Jay Wintrob.

JetBlue Airways: CEO Dave Barger, 56, will step down in February and be replaced by the company's president, Robin Hayes, 48.

RCS Capital: Edward Michael Weil, 47, RCAP's President, has been appointed CEO, succeeding William M. Kahane, 66.

National Holdings Corporation: Mark D. Klein, CEO and Co-Executive Chairman, will step down. Robert Fagenson, Co-Executive Chairman, will assume the position of CEO.


LSI Industries: Dennis W. Wells has joined as COO while Robert Ready steps down as CEO and takes the interim title of Executive Chairman. Within six months it is expected that Wells will be appointed CEO, at which time Ready will remain as Chairman.


Susquehanna Bank: Susquehanna Bancshares named its EVP Gregory A. Duncan, 58, as President and CEO of Susquehanna Bank, replacing Andrew Samuel, 52, who resigned to relocate for personal and family reasons.


D.R. Horton: EVP and COO David V. Auld, 58, replaces Donald J. Tomnitz, 63, as CEO.

J.C. Penney: Home Depot executive Marvin Ellison, who also spent several years at Target, has been tapped to take over next from long-time CEO Myron “Mike” Ullman III.

Luminex: Patrick J. Balthrop, Sr., 57, has retired as President and CEO. The board has named Given Imaging CEO Nachum "Homi" Shamir, 59, as President and CEO.

Oiltanking Partners: Laurie H. Argo, VP, NGL Fractionation, Storage and Unregulated Pipelines for Enterprise Products Partners L.P., has been appointed as President and CEO of the Partnership's general partner.

Dex Media: Former Yellowbook exec Joe Walsh, 51, takes over as president and CEO from Peter McDonald, 64.


Canadian Imperial Bank of Commerce: Group Head, Wealth Management Victor Dodig was named President and CEO and a member of CIBC's Board.

TMX Group Ltd: President, S&P Capital IQ and Chairman of the Board, S&P Dow Jones Indices, Lou Eccleston, joins as CEO.

Other International

Barclays Wealth and Investment Management: State Street acquired InfraHedge’s founder Akshaya Bhargava has been appointed as CEO of Barclays Wealth and Investment Management.

Norsk Hydro: Svein Richard Brandtzæg stays on as Hydro CEO. He has withdrawn his resignation.

Allianz SE: Management board member responsible for global property and casualty insurance, and insurance in western and southern Europe, Oliver Baete, 49, will succeed CEO Michael Diekmann, 60.

Signet Jewelers Limited: COOMark Light replaces Michael W. Barnes a CEO.

Protalix BioTherapeutics: Former Teva Pharmaceutical exec Moshe Manor is the new President and CEO.

Frontline: Robert Hvide Macleod has been engaged as the new CEO for Frontline Management AS. Currently MD and owner of Highlander Tankers AS. 

         Recent Vell Placements

For Specific bios and announcements, please refer to Vell Website.

LogMeIn (LOGM),  SaaS & IoT Software  - Board members  (2)

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 5023 times Last modified on Friday, 14 August 2020 13:52
Dora Vell

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

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

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

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