Executive Transition Weekly Wrap-Up
August 10 2018 - 3:30PM
Dow Jones News
By Waverly Colville
Here are some notable executive announcements from companies
within the last week.
August 6
PepsiCo CEO Indra Nooyi Steps Down
PepsiCo Inc. Chief Executive Indra Nooyi will step down from her
role Oct. 3. Ms. Nooyi, who will also vacate her post as chairman
in 2019, will be replaced by PepsiCo President Ramon Laguarta as
CEO. During Ms. Nooyi's tenure, the company increased its annual
revenue by 81% and has expanded from primarily selling soft drinks
to become a diversified seller of food and beverages, including
hummus and kombucha.
Douglas Dynamics COO to Become CEO
Douglas Dynamics Inc. Chief Operating Officer Robert McCormick
will become the company's new chief executive effective Jan. 1. He
will replace James Janik, who will become executive chairman. Mr.
McCormick, who has previously served as Douglas Dynamics's finance
chief, was CEO of Xymox Technology Inc. for three years.
August 7
Salesforce Promotes COO to CEO
Salesforce.com Inc. has appointed Chief Operating Officer Keith
Block to serve as co-chief executive alongside Marc Benioff. Mr.
Benioff will remain board chairman while Mr. Block will be in
charge of the company's growth strategy.
Travelers CFO to Retire
Travelers Cos. said Jay Benet will retire as the company's
finance chief Sept. 1. Mr. Benet, who has been CFO since 2004, will
be replaced by Daniel Frey. Mr. Frey is the finance chief of
Travelers's personal insurance segment.
August 8
Stifel Financial Corp. named David Sliney as its new operating
chief and Jim Marischen as its new finance chief. Mr. Sliney, who
started his career at Stifel in 1992, will oversee technology,
operations and platform development for the company. Mr. Marischen
will take over the CFO role from James Zemlyak, who will focus on
leading the firm's global wealth management business. Mr. Zemlyak
has been in charge of the business since 2011. Mr. Zemlyak will
remain co-president of Stifel Financial Corp. with Victor Nesi, who
will continue to lead Stifel's Institutional Group.
Biolase Names New Chief Executive and President
Biolase Inc., a dental laser company, has named board member
Todd Norbe as its chief executive and president. The company's
interim chief executive John Beaver will become the executive vice
president and chief financial officer. Mr. Norbe is the former
president of North America of KaVo Kerr, another dental instrument
company.
August 9
Pandora CEO Steps Down
Anders Colding Friis, the chief executive of Pandora A/S,
announced his resignation, effective Aug. 31. Jeremy Schwartz, the
former chief executive of The Body Shop, will also become the chief
operating officer, starting Sept. 1. No reason was given for Mr.
Friis's resignation.
CNH Industrial Hires New Chief Executive
CNH Industrial NV has named Hubertus Mühlhäuser as its new chief
executive. Mr. Mühlhäuser is the chief executive of Welbilt Inc.
and was a top executive at Agco. He replaces Rich Tobin, who left
CNH to be the chief executive of Dover.
August 10
Brookdale Senior Living Names Dish Network Executive as New
CFO
Brookdale Senior Living Inc. announced that Steven Swain, the
chief financial officer of Dish Network Corp., as its new executive
vice president and chief financial officer. During his time at
Dish, Mr. Swain improved the company's operating results and
spearheaded transaction activities, Brookdale said. Mr. Swain spent
seven years at Dish.
Apple Taps Tesla Engineer
Apple Inc. has hired Doug Field, who left Tesla Inc. earlier
this year after serving as an engineering executive. Mr. Field will
now directly for the head of the company's autonomous-car
initiative. Before working for Tesla, Mr. Field worked for Apple in
the Mac hardware-engineering team.
(END) Dow Jones Newswires
August 10, 2018 16:15 ET (20:15 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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