January 19th, 2020
Happy New Year and welcome to our Annual Technology CFO Newsletter, summarizing the 2019 appointments and open roles as of the end of the year.
We are now working on trends for 2019 Board changes in tech companies.
There are currently 36 Open Tech CFO Roles in US & Canada after all the shuffles last year. There have been 231 CFO appointments in the technology domain in US & Canada in 2019.
We would LOVE to hear from you… Please click on the link below… The survey is completely anonymous…We will publish a summary of the results.
Instagram Co-Founders Leave Facebook after Six Years; Tensions over Product Direction
Instagram co-founders Kevin Systrom, 34, and Mike Krieger, 32, have resigned, amidst growing tensions over product direction with Facebook’s CEO, Mark Zuckerberg. They co-founded the photo-sharing mobile phone app company in 2010. Facebook acquired Instagram in 2012 for $1 billion.
eSignature Co. DocuSign Board Shuffles after IPO: the Founder, & Chairman and xCEO and Three VCs Step Down. Four Others Named
Just after three months after its IPO, five of twelve of DocuSign’s board members are stepping down. The board appointed three others to the board, in addition to one that was appointed in March of this year.
Intel announced that CEO Brian Krzanich, 58, has resigned. Robert Swan, 57, Intel’s CFO has been named as the interim CEO. Intel was recently informed that Krzanich had a past consensual relationship with an Intel employee. A subsequent investigation resulted in the resignation. Outside of the affair, Kraznich’s reputation suffered as a result of two 2017 events: (1) the scary security flaws in two chips, named Meltdown and Spectre, and (2) Krzanich’s stock sale of $24m, ahead of the security flaws being made public.
Ultimately, Intel’s first quarter results in 2018 were very strong, seemingly unaffected by the chips’ security flaws.
Themes in the Giant Tech Reorgs:
Apple Music Promotes Two
Apple has hired Google's former head of search and artificial intelligence John Giannandrea to lead the company's 'machine learning and A.I. Strategy.
The giant also has appointed International exec Oliver Schusser as VP of Apple Music and international content to oversee its music streaming business, relocating from the UK to California for the new position. With Oliver’s promotion, Apple marketing executive Tracey Hannelly will lead International for Apple music, which services 155 markets. She joined the company in 2007 beginning in Australia and New Zealand.
NBC Entertainment President Jennifer Salke has been named head of Amazon Studios. Salke will oversee all television and film production for Amazon's entertainment arm.
Facebook board: Jan Koum, 41, CEO of WhatsApp stepped down from the board over significant disagreements over privacy issues.
Joining Akamai’s board is Amazon’s CISO - Tom Killalea, 49.
LogMeIn has named Sara Andrews, SVP and Global CISO of PepsiCo to the company’s board of directors.
Giant technology companies have had plenty of action with their leadership teams in the first half of 2018. This is the first of a two part series:
Trends for Boards & Exec
Mammoth Company Changes
The Big Re-Organizations
Also please look at Part 2 - Tech Company Board Appointment Trends, which will be posted on our blog and on our .
We welcome any feedback and insights you may have.
All the best,
Athenahealth's CEO Jon Bush Steps Down Under Growing Pressure
Cloud-based software platform for medical providers, Athenahealth is in turmoil. CEO and co-founder Jonathan J. Bush, Jr., 49, stepped down as President, CEO and Board Member. He had been replaced as Chairman last year by Jeff Immelt.
Xerox ended a planned $6.1 billion deal with Fujifilm, in which Fuji would take control of Xerox, and reached a new agreement with activist investors Carl Icahn and Darwin Deason, who have a combined 15% stake at the company and have been opposing the Fujifilm deal. They launched a campaign to stop the merger and oust top managers, including CEO Jeff Jacobson, 58. Jacobson was a particular target as Icahn accused him of rushing into the Fujifilm deal and acting against board instructions, something that he board denied in April. Jacobson was named CEO January 2017. He had been President and prior to that COO of the Xerox Technology business, and president of Global Graphic Communications Operations joining in 2012. Prior to joining Xerox, he served as Chairman & CEO of Presstek.