I am so glad I have been on the West coast for a couple of weeks and avoided the terrible snow storms, back home in Boston.
Vell Executive Search just published a report on Chairman/CEO Structure. We studied the Fortune 100 companies over a 14 year period and whether splitting or combining the roles is a good thing. While we focus our business on technology, we can learn a lot from the giants, as their stories are more visible. You can download a copy - FREE DOWNLOAD
This montlhly newsletter covers open CEO roles and latest appointments, in the tech sector and overall in the 30 days ended February 5, 2015.
New Tech CEO Openings: One – Inteliquent (IL)
Total Tech CEO Roles Open: 13
New Tech CEO Appointments: 14
Sources of Tech CEO Appointments: 5 external; 8 internal promotions –COO (2), iCEO (1), CMO (1), President (1), Others (3); while one was a former executive.
Geographic Distribution of new Tech CEOs: 13 in the U.S. and one international
Gender Diversity: Three of 14 CEOs appointed were women Nasty Gal (CA), MamaBear (CA) and Viki (CA).
All Other Industries
New CEO Openings (other industries): 13 - Mattel (CA), Joe's Jeans (CA), Sterling Construction Company (DE), Forward Industries (FL), Barnes & Noble-Retail (NY), The Fresh Market (NC), Dana Holding (OH), Cheviot Financial (OH), Outerwall (WA), Spectrum Brands Holdings (WI), Petrobras (Brazil), Knot Offshore Partners (U.K.), and Kaisa Group (China)
Total CEO Roles Open: 54 (other industries)
New CEO Appointments: 45 (other industries)
Sources of Appointments (other industries): 7 were external appointments; 38 were internal promotions – COO (19), Divisional leader (9), President (3), iCEO (2), others (5)
Geographic Distribution of new CEO Appointments (other industries): US (37), Canada (2) and International (6)
Gender Diversity(other industries): Three women were appointed as CEO - Carnival Cruise Lines (FL), Tootsie Roll Industries (IL), Lands' End (WI).
All the best,
Vell Executive Search
Tech CEOs Wanted
Reddit, San Francisco, CA Revenues: Pvt.
Reddit is an entertainment, social networking service and news website where registered community members can submit content, such as text posts or direct links.
November 2014 - Yishan Wong has resigned as CEO of Reddit, the community-curated message board, following a disagreement with the board of directors over new offices. Ellen Pao, Reddit's business and partnerships strategist, will serve as interim CEO.
Jive Software, East Palo Alto, CA Revenues: $145.8m Jive Software provides a social business software platform.
November 2014 - Jive Software CEO Tony Zingale announced his retirement from the helm of the Palo Alto company. Zingale will become executive chairman, providing an opportunity for Elisa Steele, who was promoted to president and will serve as interim CEO with help from board member Bill Lanfri until a new leader is named.
Tinder, Los Angeles, CA Revenues: NA Tinder is a matchmaking mobile app, which connects with users' Facebook profiles to provide pictures and ages for other users to view.
November 2014 - Tinder CEO Sean Rad is stepping down. He's going to stay on as CEO until the company finds his replacement.
Guidance Software, Pasadena, CA Revenues: $110.5m Guidance Software is a provider of digital investigative solutions.
November 2014 - Guidance Software appointed CFO Barry Plaga as Interim CEO. This appointment follows the departure of Victor Limongelli as Guidance Software’s President and CEO and his resignation as a member of the Company’s Board of Directors. Guidance Software’s Board of Directors will initiate formal search processes to identify a permanent CEO.
Inteliquent, Chicago, IL Revenues: $211.7m
Inteliquent, formerly Neutral Tandem, provides solutions for voice, data, and hosted services globally.
January 2015 - G. Edward Evans will be departing as CEO in order to pursue other interests. Evans will continue to act as the CEO beyond such date if necessary to permit the Company to complete a nationwide search for his successor.
CTI Group, Indianapolis, IN Revenues: NA
CTI Group is a global provider of carrier-grade software solutions and services which empower organizations through communication analytics.
December 2014 - CTI Group named Manfred Hanuschek as interim President and CEO, upon the retirement of John Birbeck.
Dataram, Princeton, NJ Revenues: $30.4m
Dataram Corporation is a developer, manufacturer and marketer of memory products used in servers and workstations.
January 2015 – Dataram Corporation appointed board member and Chairman David Moylan as its interim President and CEO, replacing John Freeman.
*For the interim role, we have been informed that there may not be a search open.
Vevo, New York, NY Revenues: NA
Vevo is a video hosting service owned and operated by a joint venture of Universal Music Group (UMG), Google, Sony Music Entertainment (SME) and Abu Dhabi Media.
November 2014 – CEO Rio Caraeff, who has run the Vevo music video service since its creation in 2009, is leaving at the end of the year. Vevo is now looking for a new CEO. In the meantime, CFO Alan Price will run the company.
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.
F5 Networks, Seattle, WA Revenues: $1.7b
F5 Networks is the developer and provider of application delivery services.
November 2014 - F5 Networks said President and Chief Executive John McAdam plans to retire in about a year and will work closely with the board of directors to ensure a smooth transition as the networking company searches for a successor.
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.
Shanda Games Limited, Shanghai, China Revenues: $11.63b
Shanda Games Limited is a China-based company principally engaged in the development and operation of online games and related businesses..
November 2014 - Yingfeng Zhang has been appointed as acting CEO and the Board will begin a global search for a permanent successor.
Millicom, Stockholm, Sweden Revenues: NA
Millicom is a leading international telecommunications and media company dedicated to emerging markets in Latin America and Africa.
December 2014 – CFO Tim Pennington will serve as iCEO, as CEO Hans-Holger Albrecht steps down. Meanwhile, the board has initiated a search.
Ellie Mae: Ellie Mae has appointed President & COO Jonathan Corr as CEO and a member of the board.
Nasty Gal: Founder Sophia Amoruso hands over CEO role at cutting-edge online fashion retailer to President Sheree Waterson.
Adaptive Insights: Business intelligence software company Adaptive Insights has named Citrix Systems chairman Thomas Bogan as its CEO.
MamaBear: MamaBear, which develops a family communications and parenting app, named Suzanne Horton as new President and CEO. Previously served at Invitation homes (backed by Blackstone), and was CEO of BeJane.
Viki: Rakuten-acquired video site Viki appointed CMO Tammy Nam to CEO spot; former CEO Razmig Hovaghimian will remain the company’s executive chairman.
CodeFutures: The company which develops Agile software used in the Big Data area, named co-founder of Spider Web Labs Dan Lynn as its new CEO.
Streamline Health Solutions: The company promoted its EVP and COO, David Sides to President and CEO, replacing Robert E. Watson who is leaving.
Endurance International Group: DIRECTV exec Mike Olson has been named Brand CEO of Bluehost, the cloud-based solutions provider. Olson succeeds Dan Handy, who has joined Endurance's enterprise-wide mobile team to develop next generation mobile solutions for small businesses.
Single Touch Systems: iCEO Jerry Hug is now CEO, as per the company website and his LinkedIn profile. No formal announcement made about his transition from iCEO to CEO.
Comtech: Comtech appoints former Decision Sciences International CEO Dr. Stanton D. Sloane, 63, as new CEO; while former CEO Fred Kornberg, 78, to continue as Exec Chair.
InsPro Technologies Corporation: Donald Caldwell, 68, will be CEO, and also remains the chairman of the Board.
Canon Information Technology Services: Eliott Peck, SVP and GM of Imaging Technologies and Communications Group, will become chairman and CEO of Canon Information Technology Services, a wholly owned subsidiary of Canon U.S.A.
Optimum Energy: The software- and data-driven company which helps enterprises with their facility and energy management, named board member Bert Valdman as President and CEO.
Mer Telemanagement Solutions: The Israel based provider of Mobile Virtual Network Enabler (MVNE), Mobile Money and telecommunications expense management (TEM) solutions and services, appointed its former exec Lior Salansky as the company's CEO.
CEOs Wanted and Appointed – All Other Industries
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 announced that it’s Chairman and CEO, Gary T. Steele, plans to retire on May 31, 2015. Steele has agreed to remain as a director, but not as Chairman. The search committee of the company has engaged JM Search, of Philadelphia, PA to begin the search process.
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 and has appointed a special committee to begin an extensive search process for Barry's successor.
Jacobs Engineering Group, Pasadena, CA Revenues: $12.7b
Jacobs Engineering Group is a technical professional services firm.
November 2014 - Craig L. Martin retires, leading to Noel G. Watson to serve as Executive Chairman until a new CEO is appointed.
Wesco Aircraft Holdings, Valencia, CA Revenues: $1.4b
Wesco Aircraft Holdings is the holding company for Wesco Aircraft Hardware Corp.
December 2014 - Wesco Aircraft Holdings appointed EVP, Sales and Marketing Hal Weinstein as interim CEO, upon the retirement of Randy J. Snyder.
Mattel, El Segundo, CA Revenues: $6b
Mattel makes a variety of toy products worldwide which are sold to its customers and directly to consumers.
January 2015 – Mattel announced that Christopher A. Sinclair has been named the Company’s Chairman and Interim Chief Executive Officer. The Company also announced that Bryan G. Stockton has resigned as Mattel’s Chairman and Chief Executive Officer and resigned from the Board of Directors.
Joe's Jeans, Commerce, CA Revenues: $140.2m
Joe's Jeans is engaged in design, development and marketing of apparel products, which include denim jeans, related casual wear and accessories.
January 2015 –Marc Crossman has tendered his resignation as President and CEO and that in conjunction with his resignation, he will be transitioning to a consulting position with the Company. Samuel Joseph Furrow, Jr. (Jay) will serve as Interim CEO.
Sterling Construction Company, Wilmington, DE Revenues: $556.2m
Sterling is a heavy civil construction company in the building and reconstruction of transportation and water infrastructure projects in Texas, Utah, Nevada, Arizona, California, Hawaii and other states.
January 2015 – Sterling Construction Company announced that Paul J. Varello, Chairman of the Board of Directors, has been named the Company’s acting 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 retained Russell Reynolds Associates to assist the Company with the recruitment of its next CEO. As previously announced, Clarence Otis has stepped down as Chairman and CEO and Eugene Lee serves as iCEO.
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 CEO, Park Brady, will be retiring. The 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.
SeaWorld Entertainment, Orlando, FL Revenues: $1.46b
SeaWorld Entertainment is a theme park and entertainment company.
December 2014 - Chairman David F. D'Alessandro will serve as the Company's interim CEO until the Board selects a permanent successor to current CEO and President, Jim Atchison, who will become Vice Chairman of the Board.
Forward Industries, Pompano Beach, FL Revenues: $33.4m
Forward is a manufacturer and distributor of specialty and promotional products.
January 2015 - Robert Garrett, Jr. voluntarily resigned as CEO. Current director Michael Luetkemeyer will serve as the Company’s interim CEO. In addition, the Board has also determined to elect Terence Bernard Wise as Chairman of the Company.
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.
Walgreens Boots Alliance, Deerfield, IL Revenues: $76.39b
Walgreens Boots Alliance together with its subsidiaries operates as a retail drugstore chain in the United States.
November 2014 - Walgreens announced that Stefano Pessina, executive chairman of Alliance Boots and a member of the Walgreens board, will serve as its acting CEO, pending a board search for a successor. Walgreens announced that Greg Wasson, president and CEO, has informed that he will retire shortly after the close of the second step of the Alliance Boots transaction.
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.
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.
Glacier Bancorp, Kalispell, MT Revenues: $321m
Glacier Bancorp is a regional multi-bank holding company. It provides commercial banking services from 108 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington.
October 2014 – Glacier Bancorp 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.
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.
Chambers Street Properties, Princeton, NJ Revenues: $250m
Chambers Street Properties is a net lease real estate investment trust.
November 2014 - Chambers Street Properties announced that President, CEO and Founder Jack Cuneo plans to retire from the Company. Cuneo will continue in his role until a successor is named and will be available to provide consulting services to the Company for a period of time after that.
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.
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.
American Realty Capital Properties, New York, NY Revenues: NA
American Realty Capital Properties is a real estate investment trust.
October 2014 – American Realty Capital Properties, the real-estate investment trust under investigation for accounting irregularities, saw Chairman Nicholas Schorsch and CEO David Kay have stepped down. Lisa Beeson has also stepped down as ARCP’s president and COO. A committee has begun the search to replace Kay, who has been in the post for less than three months.
Sotheby’s, New York, NY Revenues: NA
Sotheby’s is a famed art auction house.
November 2014 – William F. Ruprecht, chairman and CEO of Sotheby’s is stepping down. Sotheby’s has begun a search for its next CEO, and Ruprecht will continue to lead until a successor is found.
Harbinger Group, New York, NY Revenues: $4.7b
Harbinger Group is a holding company, operating through branded consumer products company Spectrum Brands and life insurance company Fidelity & Guaranty Life Holdings.
November 2014 –Philip Falcone, HGI's Chief Executive Officer and Chairman to resign. Indepemdent director Joseph S. Steinberg will become Chairman while the company will name a CEO upon the completion of a search process.
Barnes & Noble, New York, NY Revenues: $6.4b
Barnes & Noble is a bookseller. The Company is a content, commerce and technology company that provides customers access to books, magazines, newspapers and other content across its multi-channel distribution platform.
January 2015 – Barnes & Noble announced that Mitchell Klipper, CEO of the Retail Group, will retire at the end of the fiscal year, ending May 2nd, but will remain with the Company in the role of special advisor on real estate and other matters. The Company said it has begun a search to fill Klipper’s position and that he will help with the selection of the new Retail CEO and in the transition process.
Salix Pharmaceuticals, Raleigh, NC Revenues: NA
Salix Pharmaceuticals is a specialty pharmaceutical company.
January 2015 – Salix Pharmaceuticals’ President and CEO Carolyn Logan plans to retire by the end of January, months after an accounting issue may have derailed the drug maker’s takeover. Chairman Tom D’Alonzo will become acting CEO. The company will hire a search firm to look for a CEO.
The Fresh Market, Greensboro, NC Revenues: $1.5b
The Fresh Market is a specialty retailer. The Company focuses on perishable product categories, which include meat, seafood, produce, deli, bakery, floral, sushi and prepared foods.
January 2015 - Craig Carlock resigned as president and CEO. After the retirement news of Carlock, the specialty grocery retailer is in search of a new CEO and till a new appointment is made, COO Sean Crane will serve as the Interim 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.
Abercrombie & Fitch, New Albany, OH Revenues: $4.1b
Abercrombie & Fitch through its subsidiaries is a specialty retailer that operates stores and direct-to-consumer operations.
December 2014 - Abercrombie & Fitch’s longtime and controversial CEO and Director Michael Jeffries is retiring, as the once-hip teen clothing chain’s sales decline. The retailer has started a search for a new CEO.
Bob Evans Farms, New Albany, OH Revenues: NA
Bob Evans is a full-service restaurant company that operates Bob Evans Restaurants.
December 2014 - Bob Evans Farms’s CEO Steve Davis has stepped down. The Board has established an interim Office of the CEO to provide ongoing leadership and oversight of the day-to-day operations of the Company while a search is conducted for a new CEO.
Dana Holding, Maumee, OH Revenues: $6.8b
Dana Holding is a global provider of technology driveline, sealing and thermal-management products.
January 2015 - President and CEO Roger J. Wood plans to retire in April 2016, after five years of leadership at Dana. The Board has initiated a process that will evaluate both internal and external candidates and executive search consulting firm Spencer Stuart has been engaged to assist in this process.
Cheviot Financial, Cheviot, OH Revenues: $17.8m
Cheviot Financial is a mid-tier stock holding company for Cheviot Savings Bank.
January 2015 - Thomas J. Linneman, the Bank's Chairman, President and CEO, has announced his retirement, effective February 6, 2015. Board member Mark Reitzes has agreed to serve as President and CEO on an interim basis.
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.
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.
AmeriServ Financial, Johnstown, PA Revenues: NA
AmeriServ Financial is a bank holding company owns all of the outstanding shares of AmeriServ Financial Bank.
December 2014 - Glenn L. Wilson will resign from his position as President and CEO. The Board has appointed Jeffrey A. Stopko as interim President and CEO of AmeriServ Financial and James T. Huerth as interim President and CEO of AmeriServ Financial Bank, until permanent successors for Wilson are named.
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.
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.
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 CEO. 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.
Outerwall, Bellevue, WA Revenues: $2.3b
Outerwall, formerly Coinstar, is a provider of automated retail solutions, which offers convenient products and services.
January 2015 - J. Scott Di Valerio has resigned as CEO. Board member Nora Denzel will serve as interim CEO while the board searches for a long-term replacement.
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.
Spectrum Brands Holdings, Middleton, WI Revenues: $4.4b
Spectrum Brands Holdings is a consumer products company, manufacturing alkaline, zinc carbon and hearing aid batteries, herbicides, insecticides and repellants and specialty pet supplies.
January 2015 - Spectrum Brands Holdings announced that David R. Lumley, President and CEO, intends to retire from the Company by the end of 2015 as part of a planned succession process. Spectrum Brands has instituted an active succession program, including commencement of a formal search for his replacement that will consider both internal and external candidates.
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.
Mulberry Group, Chilcompton, UK Revenues: $165.1m
Mulberry Group is a luxury accessories, clothing and footwear company, conducting 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. Godfrey Davis, who is currently non-executive chairman and was previously CEO, will become executive chairman until a successor is found.
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.
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 began a process to appoint his successor.
Sanofi, Paris, France Revenues: $41.2b
Sanofi, formerly Sanofi-Aventis is a global and diversified healthcare company.
November 2014 – Sanofi’s board ousted its CEO of six years Chris Viehbacher, criticizing him for an authoritarian management style. Chairman Serge Weinberg would take on the CEO role until a replacement for the German-Canadian Viehbacher was found.
Petrobras, Rio de Janeiro, Brazil Revenues: $111.9b
Petroleo Brasileiro SA (Petrobras) is a Brazil-based integrated oil and gas company.
February 2015 – Maria das Gracas Foster the CEO of Petroleo Brasileiro Petrobras is stepping down amid a corruption scandal that has removed billions of dollars from the state-run oil producer's market value and threatened the economic revival in Brazil. Foster and another five directors have resigned. Petrobras' board will meet in order to select their replacements. The company has been changing its management after it was alleged some of its executives were bribed into awarding construction contracts.
Knot Offshore Partners, Aberdeen, U.K Revenues: $73.2m
Knot Offshore Partners is a limited partnership formed to own, operate and acquire shuttle tankers under long-term charters.
February 2015 – Knot Offshore Partners announced that Arild Vik has decided to step down as CEO and CFO of the partnership, to pursue other interests outside of the partnership. He will be available for the partnership until 30 July 2015. This ensures that the Board has sufficient time to find a suitable replacement to when he steps down.
Kaisa Group, Guangzhou, China Revenues: $3.1b
Kaisa Group Holdings Ltd. is an investment holding company, and its subsidiaries are engaged in property development, property investment and property management.
February 2015 – China's homebuilder Kaisa Group said that its CEO Jin Zhigang has resigned. It was not immediately clear who would be replacing Jin, who had been at the helm since 2012.
Other Industry CEOs Appointed
Home BancShares, and Centennial Bank: Home BancShares and its wholly-owned subsidiary, Centennial Bank, promoted regional president Tracy M. French to President, CEO and Director of Centennial Bank, replacing C. Randall "Randy" Sims who will be CEO of Home BancShares.
DexCom: President and COO Kevin Sayer has assumed the role of President and CEO to succeed Terry Gregg.
MannKind Corporation: President Hakan Edstrom named new CEO of the company.
UTi Worldwide: EVP, Global Contract Logistics and Distribution, Edward G. Feitzinger, 47, named CEO of the Company.
Sunstone Hotel Investors: John Arabia, the Company's President, has been named to the additional role of CEO.
Fidelity Exploration & Production Company: The Board appointed President Pat O'Bryan, to succeed J. Kent Wells, as CEO of Fidelity.
Alexion Pharmaceuticals: COO David L. Hallal, 48, is now CEO.
Carnival Cruise Lines: Christine Duffy, head of the Cruise Lines International Association, will lead Carnival Cruise Line. Her predecessor Gerry Cahill retired on Nov’14.
Norwegian Cruise Line Holdings: Frank Del Rio, Prestige Cruises International’s CEO, is now President and CEO at Norwegian Cruise Line Holdings, succeeding Kevin Sheehan, who leaves.
Boise Cascade: COO Thomas K. Corrick, 59, replaces Thomas E. Carlile, as CEO.
McDonald's: Don Thompson, president and CEO, will retire March 1. The board elected Senior EVP, Global Chief Brand Officer Steve Easterbrook to replace Thompson.
Tootsie Roll Industries: CEO and Chairman Melvin J. Gordon died after a brief illness and the board appointed COO Ellen R. Gordon, as CEO.
Atlantic Power: Diamond Castle Holdings’ Chairman of Energy and Power James J. Moore, Jr. named as President and CEO.
Repligen Corporation: COO Tony J. Hunt to succeed Dr. Walter C. Herlihy as President and CEO.
Implant Sciences Corporation: COO William McGann has been named as the Company's CEO, replacing Glenn D. Bolduc.
Ally Financial: Jeffrey J. Brown, president and CEO of Ally's Dealer Financial Services business, has been named CEO at Ally Financial.
Donaldson Company: COO Tod Carpenter, 55, has been named President and CEO.
Eastgroup Properties: Newly appointed President & COO Marshall A. Loeb will become President and CEO in January, 2016, succeeding David H. Hoster II.
Peabody Energy: President and COO Glenn L. Kellow has been named President and CEO-Elect and will become CEO in May 2015.
Covanta Holding Corporation: Stephen J. Jones, who most recently served as SVP and GM at Air Products and Chemicals, will become Covanta's President and CEO.
Bristol-Myers Squibb: The Company appointed its chief commercial officer and COO, Giovanni Caforio, M.D., 50, as CEO.
ABM Industries: EVP Scott Salmirs will succeed current president and CEO Henrik Slipsager.
Overseas Shipholding Group: EVP & COO Captain Ian T. Blackley is now President and CEO.
Keryx Biopharmaceuticals: The company will be transitioning the role of CEO from Ron Bentsur to its current COO, Greg Madison.
NeoStem: David J. Mazzo, PhD, most recently CEO of Regado Bioscience, will be CEO.
Toshiba America Energy Systems Corporation: Ali Azad, President of BHI Energy, has been appointed the first President and CEO of Toshiba America Energy Systems Corporation.
Parker Hannifin: Company veterans Thomas L. Williams named CEO and Lee C. Banks as President and COO.
Invacare: Matthew E. Monaghan, SVP and GM of Zimmer’s Global Hips business, is now President and CEO at Invacare.
Berkadia Commercial Mortgage: The newly formed entity owned by Berkshire Hathaway and Leucadia National Corporation appointed Leucadia exec Justin Wheeler as CEO.
Unum Group: CFO Richard McKenney is succeeding retiring CEO Thomas Watjen.
Kinder Morgan: President and COO Steve Kean, 52, will become CEO of Kinder Morgan as Rich Kinder will become Executive Chairman.
Apache Corporation: CEO Steven Farris retired from the oil and natural gas company, while COO John Christmann IV was named as the new CEO.
Legacy Reserves: Paul T. Horne, currently Legacy's EVP and COO, becomes CEO.
Myriad Genetics: Peter D. Meldrum will retire as president and CEO, replaced by Mark C. Capone, currently president of Myriad Genetic Laboratories.
Lands' End: New CEO Federica Marchionni comes to Lands' End from her role as President of Dolce&Gabbana USA. She succeeds Edgar Huber, who is resigning from the Company.
Harley-Davidson: Matthew S. (Matt) Levatich, currently President and COO will succeed Keith Wandell as President and CEO upon his retirement in May’15.
Sears Canada: iCEO Ronald Boire is now CEO of the Canadian chain.
Petroamerica Oil Corp.: COO and EVP Dr. Ralph Gillcrist will assume the role of President and CEO and will accept a seat on the Board of Directors.
Statoil: iCEO Eldar Sætre is now CEO permanently. Had become iCEO upon resignation of Helge Lund.
Thales: French defense electronics group Thales appointed its second-in-command Patrice Caine, 44, Senior EVP, COO and Chief Performance Officer, as CEO.
SGS SA: The product inspection company appointed Frankie Ng, head of its industrial services unit, to replace CEO Christopher Kirk.
DEXUS Property Group: One of Australia’s leading real estate groups named COO Richard L. Van Kirk, 54, as CEO & President.
Frank’s International N.V.: Board member Gary Luquette has been appointed President and CEO, succeeding D. Keith Mosing.
Senior Plc: Aircraft parts maker Senior Plc named David Squires, COO at Cobham Plc, as its new CEO replacing Mark Rollins.
Recent Vell Placements
For Specific bios and announcements, please refer to Vell Website.
LogMeIn (LOGM), SaaS & IoT Software - Board members (2)
Chairman & CEO - Mobile Application Software company (West Coast)
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)
$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
Dora Vell - Managing Partner
Dal Coger – Vice President
Paula Axelrod – Vice President
Judy Smith - Senior Consultant
Earl Stephens - Business Manager
Ajanta Banerjee – Research Consultant
Tori Agel – Marketing Coordinator