October CEO Moves – ICYMI
November 4, 2020

Boardroom Alpha provides in-depth analytics and tracking of all public company executives and officers. Below is a rundown of select CEO moves made in October, the first of a now monthly series. Get a demo today to see how you can receive real-time alerts and in-depth analytics.

Ford Motor Company (F)

James D Farley started as CEO of Ford Motor Company (F) after being announced this past summer. He replaced Jim Hackett (C-).   

“Making the C.E.O. change now could be viewed as Ford is ready to move faster, more aggressively”.

Joseph Spak, an analyst with RBC Capital Markets

Evolent Health (EVH) 

Seth Blackley started as CEO of Evolent Health (EVH)  after being announced this past summer. He replaced Frank Williams (D). This comes amidst an agreement from earlier this year for Evolent to spin off significant assets like the Passport Health Plan.

Tyson Foods (TSN)

Samuel D Banks Jr. started as CEO of Tyson Foods (TSN) after being announced this past summer. He replaced Noel White (C).  Banks’ background in technology and healthcare, working at Google and as a healthcare investor gave Tyson leadership confidence he was best suited for the job

Welltower (WELL)

Shankh Mitra was promoted to CEO at Welltower (WELL) following the resignation of Thomas DeRosa (C+)

“In April, we elevated Shankh to the roles of Vice Chair and COO with the intent that he would ultimately succeed Tom as CEO.  We have the utmost confidence in Shankh’s strategic vision and leadership”

Jeffrey Donahue (B), lead independent director

Amalgamated Bank (AMAL)

Keith Mestrich resigned as CEO at Amalgamated Bank (AMAL), effective January 31st, 2021. The company is still looking for a successor.

[Mestrich] “leaves the bank with a deep and capable leadership team, and, as shown by preliminary [third-quarter] earnings … in a position of strength”

Piper Sandler analyst Alex Twerdahl

Interpublic Group of Companies (IPG)

Interpublic Group of Companies (IPG) announced Michael I Roth (B+) will relinquish his position as CEO January 1st, 2021 and become executive chairman of the board. He will be replaced by his chosen successor Philippe Krakowsky, an IPG veteran of 18 years.

Moody’s Corporation (MCO)

Moody’s Corporation (MCO) announced Ray W McDaniel (C+) will relinquish his position as CEO January 1st, 2021 and become non-executive chairman of the board. He will be replaced by Robert Fauber.  

“Today’s announcement is the result of a thoughtful and deliberate planning process that will allow Rob to move seamlessly into his new role as CEO”

Henry A. McKinnell, Jr., PhD, Chairman of Moody’s,

TCF Financial Corporation (TCF)

TCF Financial Corporation (TCF) announced the retirement of Craig R Dahl (D). He will be replaced by David Provost (C-). This succession plan comes on the heels of a successful merger with Chemical Bank this past summer 

American Insurance Group (AIG)

American Insurance Group (AIG) announced CEO Brian Duperreault (B-) will step down, effective March 1st, 2021. He will be replaced by Peter Zaffino (B). Read our quick analysis here. 

NantkWest (NK)

NantkWest (NK) CEO Patrick Soon-Shiong (F) stepped down. He was replaced by Richard Adcock.  Billionaire Shoon-shiong still remains executive chairman and majority shareholder of the biotech start up, but may not have had the time required of a CEO

Synalloy Corporation (SYNL)

Synalloy Corporation (SYNL) announced CEO Craig C Bram (B-) will step down, effective November 9th, 2020. Christopher Hutter will be interim CEO. This move follows failed takeover attempts this past summer 

Ecolab (ECL)

Ecolab (ECL) announced CEO Douglas M Baker (C+) will step down, effective January 1st, 2021. He will be replaced by Christophe Beck. After increasing Ecolab’s market capitalization by a factor of 8 during his tenure, Baker was able to select his preferred successor in Beck.

FirstEnergy Corporation (FE)

FirstEnergy Corporation (FE) fired CEO Charles E Jones (C). He will be replaced in the interim by President Steven E Strah (A). Jones and other senior executives were terminated after a bribery scandal.

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