December CEO Moves – ICYMI
January 7, 2021

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 November. Get a demo today to see how you can receive real-time alerts and in-depth analytics.

The past December saw a number of outsiders take charge at prestigious companies. Take a look below.

Curtiss-Wright Corporation (CW)

Curtiss-Wright Corporation (CW) announced CEO David Adams (B) stepped down. Adams was replaced by Lynn Bamford, who was previously the President of the Defense and Power Segments at Curtiss. Adams will continue in his role as chairman of the board until May 2022.

“Lynn’s promotion to CEO is incredibly well-deserved. Her long-standing track record of respected leadership and success in building a strong defense electronics portfolio, and most recently leading the Defense and Power Segments, will support a seamless transition”

Adams

SM Energy Company (SM)

Announced this past Summer, SM Energy Company (SM) CEO Javan Ottoson (D) was officially replaced by Herbert Vogel, previously SM President and COO. Ottoson will step down from the board of directors in May 2021.

“I expect a smooth and effective transition during my remaining time at the Company”

Ottoson

8×8 (EGHT)

8×8 (EGHT) CEO Vikram Verma (C-)  departed; he will also resign from the board of directors. Verma was replaced as CEO by an outsider, David Sipes. Sipes was previously COO of RingCentral, resigning from that role earlier this year. 

“We believe Dave, with his operational expertise, strong industry background, and world-class go-to-market leadership, is the right leader at the right time to fully realize our potential”

Jaswinder Pal Singh (C-), Chairman of the board

Ferrari (RACE)

Louis Camilleri resigned as CEO of Ferrari (RACE) for “personal reasons”. Chairman John Elkann will take over in the interim as the automobile company searches for a successor. Camilleri also left the board.

Ferrari 3Y performance

ON Semiconductor Corporation (ON)

Announced this past Fall, ON Semiconductor Corporation (ON) CEO Keith Jackson (A) retired.The replacement, Hassane El-Khoury (B), was previously CEO of Cypress Semiconductor Corporation, which was sold to Infineon for $9bn euros this past spring. Jackson is not a director anymore, but still serves as an advisor.

“The focus of our search was to identify an experienced CEO who understands the transformation underway within our industry and to expand our leadership position in target secular growth markets, accelerate revenue, gross margin and earnings growth, and enhance stakeholder value”

Alan Campbell (B+), Chairman of the board

Phillip Morris International (PM)

Phillip Morris International (PM) announced CEO André Calantzopoulos (D) will be replaced by Jacek Olczak (D) in May 2021. Calantzopoulos will take Louis Camilleri’s (B) place as chairman of the board. Olczak is currently COO at Phillip Morris.

Phillip Morris International 3Y performance

Nutanix (NTNX)

Rajiv Ramaswami joined Nutanix (NTNX) as CEO, replacing founder Dheeraj Pandey (C-) who announced his intention to retire this past summer. Ramaswami was previously COO of VMware. Pandey will also leave the board of directors. Read our analysis of Pandey’s departure here.

Mettler-Toledo International (MTD)

Mettler-Toledo International (MTD) announced CEO Oliver Filliol (C+) will step down, effective April 1st, 2021; he will also resign from the board of directors. Filliol will be replaced by Patrick Kaltenbach, currently President of the Life Sciences Segment of Becton Dickinson. Filliol will remain on the board.

The timing of this transition is ideal, as our organization has never been stronger

Filliol

Synovus Financial Corporation (SNV)

Synovus Financial Corporation (SNV) announced CEO Kessel Stelling (B+) will step down, effective April 21st, 2021; he will become chairman of the board of directors. Stelling will be replaced by Kevin Blair, currently COO of Synovus. 

Sage Therapeutics (SAGE)

Jeffery Jonas (C) stepped down as CEO of Sage Therapeutics (SAGE). He became Chief Innovation Officer and stayed on as a director. Jonas was Barry Greene, who served as president of Alnylam Pharmaceuticals until this past September. 

“I’ve known and worked with Barry for 20 years… His appointment as CEO is the result of thoughtful succession discussions with the Board, with the aim of augmenting the executive bench with a world-class leader committed to moving Sage to the next stage of growth and commercialization”

Kevin Starr (C+), Chairman of the board

IDEX Corporation (IEX)

Announced earlier this Fall, Andrew Silvernail (B+) resigned as CEO of IDEX Corporation (IEX); he will become CEO of Madison Industries in the new year. Silvernail was replaced by Eric Ashleman, previously COO of IDEX. 

John Bean Technologies (JBT)

John Bean Technologies (JBT) interim CEO Brian Deck was appointed to the role full time. He also joined the board.

The Container Store Group (TCS)

The Container Store Group (TCS) announced CEO Melissa Reiff (A) will step down, effective March 1st, 2021; she will remain chairperson of the board. Reiff will be replaced by Satish Mathotra, currently CRO & COO of Container. 

The Container Store Group 3Y performance

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