Executive Transition Week Wrap-up
09 June 2018 - 7:58AM
Dow Jones News
By Nishant Mohan
Here are some notable executive announcements from companies
within the last week:
June 4
Howard Schultz Steps Down at Starbucks
Howard Schultz is stepping down as executive chairman of
Starbucks on June 26. Mr. Schultz joined the company in 1982 and
left in 1986. The next year he bought the company's six stores and
its roasting facility and grew Starbucks into the ubiquitous brand
it is today. In April 2017, Mr. Schultz transitioned from chief
executive to executive chairman.
Lowe's CFO Retires
Lowe's Chief Financial Officer Marshall A. Croom is set to
retire once the company appoints a successor. Mr. Croom has been
with the company for 21 years.
Thomson Reuters Names Co-Chief Operating Officers
Thomson Reuters named Brian Peccarelli and Neil Masterson
co-chief operating officers effective July 1. Mr. Peccarelli will
oversee customer-facing operations including sales, while Mr.
Masterson will manage commercial and technology operations.
June 5
Koch Industries' David Koch Retires
David Koch, 78, is retiring from his vice president post in Koch
Industries, as well as all political organizations, due to his
deteriorating health. The Koch family has long been contributors to
Republican politics, conservative organizations and philanthropic
groups.
Bed Bath & Beyond Names New Executives
Bed Bath & Beyond Chief Operating Officer Eugene Castagna
has added president to his title. Chief Financial Officer Susan
Lattman has been promoted to chief administrative officer, while
Robyn D'Elia, a vice president of finance, was promoted to CFO.
June 6
Astro Malaysia CEO to Step Down
Rohana Rozhan, group chief executive of TV company Astro
Malaysia Holdings, announced she will resign at the end of January.
Henry Tan, the company's chief content and consumer officer, is set
to succeed her.
Athenahealth CEO Quits
Jonathan Bush stepped down as president and CEO of
health-software company Athenahealth as the company has faced
pressure from an activist investor. In announcing Mr. Bush's
departure, Athenahealth also said it was exploring strategic
alternatives. As of Friday, the company hadn't yet announced an
interim leader.
CVS Health Names New CFO
CVS announced that Aetna Chief Financial Officer Shawn Guertin
would serve as CFO of the combined company. He would replace CVS
CFO David Denton. The deal is expected to close in the latter half
of this year.
June 7
BorgWarner Names New CEO
BorgWarner named Chief Operating Officer Frederic Lissalde to
replace James R. Verrier as its chief executive. Mr. Lissalde has
been with the auto supplier in various positions for 19 years.
June 8
BT Group CEO to Step Down
Gavin Patterson, CEO of BT Group, said he would step down later
this year when the U.K. telecommunications company names a
replacement. Mr. Patterson has been with BT for more than 14 years
and has served as its CEO for nearly five. BT recently launched a
restructuring plan that includes cutting 13,000 jobs.
Verizon Names New CEO
Verizon Communications named Chief Technology Officer Hans
Vestberg to replace Lowell McAdam as CEO on Aug. 1. Mr. Vestberg
has been with the company since last year. Mr. McAdam was with the
company for seven years.
Write to Nishant Mohan at nishant.mohan@wsj.com
(END) Dow Jones Newswires
June 08, 2018 17:43 ET (21:43 GMT)
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