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. 

Tuesday, 26 June 2018 09:22

Intel CEO Brian Krzanich Resigns

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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.

Giant technology companies have had plenty of action with their boards the first half of 2018. This is the second of a two part series of updates.

In this Edition -Tech Boards in 1H2018

  • Board Trends
  • Board Members Appointed/ Resigning by Functional Role & Gender
  • Board Leadership Changes: Companies Combining Chairman/CEO Roles; Companies Naming New Chairmen (non-CEO); Companies Naming New Lead Directors
  • CEO Successions: internally and externally sourced
  • Board Members Appointed/Resigning by Function: external CEOs/Presidents/GM; CFOs/Audit and Investment Professionals; CIOs/ CTOs. CISOs, Privacy.
Wednesday, 13 June 2018 08:24

Trends in Exec & Board Changes in Tech Companies

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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:

In this Edition

    Trends for Boards & Exec

  • Tech Hot Topics: AI, AR/VR, IoT and many others
  • Consumer Experience and Disruptive User Design
  • Security, Data Protection and Privacy

    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 LinkedIN articles.

We welcome any feedback and insights you may have.

All the best,

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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. 

Facebook has re-organized its ranks in the wake of user privacy issues that has been creating waves across all quarters. The social network’s misuse in the spread of Russian propaganda and disinformation and the more recent Cambridge Analytica scandal have made data privacy and security issues the foremost priority for the social media giant.  

Board Shuffles

Jan Koum, 41, CEO of WhatsApp stepped down from the board over significant disagreements over privacy issues. The company hired heavyweight and Senior Obama Advisor, Jeff Zients, 51. Earlier this year, the company also hired its first non-white director, former American Express CEO, Ken Chenault, 66. More details on the board shuffles are outlined below.

NCR Names Frank Martire as Executive Chairman and Michael Hayford as CEO

NCR Corporation has named Frank Martire, 69, as Executive Chairman. Martire most recently served as non-executive chairman of FIS till last year. He served as CEO of FIS after acquisition of Metavante, where he served as CEO before the acquisition.

Twitter’s Chief Information Security Officer to Leave after Three Years In Role

Twitter’s CISO Michael Coates steps down from his role to launch his own security startup. Coates joined the company in January 2015. He had joined from Shape Security, where he was the Director of Product Security. Earlier in his career, he held roles at Mozilla, Aspect Security and Motorola.