Boards Put Successors in Place
Eaton Puts Ruiz in the CEO Seat
Eaton (ETN) re-segmented its reporting lines to put legacy Vehicle and eMobility inside Mobility, and it recast prior-period financials without a restatement.
Paulo Ruiz became chief executive on June 1, 2025, after running Eaton as president and chief operating officer. Ruiz, 51, joined Eaton in April 2019 and continues to sit on the board. Shareholders backed his director election with 99% support in April.
Olivier Leonetti became CFO in February 2024 after serving as finance chief at Johnson Controls. Ruiz takes over a stock up about 3% over the past year, and Eaton has had two CFOs in three years.
Expand Energy Hires Brown as CEO
Expand Energy (EXE) hired Daniel E. Brown as president and chief executive, effective Oct. 26, 2026. Michael Wichterich will give up the interim CEO title that day and return to non-executive chairman.
Brown, 51, served as CEO of Oasis Petroleum and Chord Energy, and he held executive roles at Anadarko Petroleum before Occidental bought it. Expand gave Brown an equity award worth about $11 million. The stock fell about 30% from its December 2025 high.
Brown enters a company that has changed CEOs twice in three years and screens as HIGH activist risk in Boardroom Alpha’s model. Wichterich, 58, has served as interim CEO more than once, and shareholders backed him with 98% support in June.
Comfort Systems Promotes Its Accounting Chief
Comfort Systems USA (FIX) said William George will retire as executive vice president and CFO after the company files its 2026 Form 10-K. Julie Shaeff will move up from senior vice president and chief accounting officer to replace him.
Shaeff, 60, has served as chief accounting officer since May 2005. She previously worked at Browning-Ferris Industries and Arthur Andersen, and Comfort Systems said no compensation changes had been determined.
George leaves the finance seat after Comfort Systems shares gained 62% over the past year. The board chose a longtime accounting insider for a company whose longest-serving director has been in the room for 25 years.
Also This Week
- Union Pacific (UNP) said CFO Jennifer Hamann will retire in early 2027, with a successor to be announced later.
- Evercore (EVR) made Nigel Dawn and Naveen Nataraj co-presidents, with each receiving a $20 million equity award.
- Kinsale Capital (KNSL) said CFO Bryan Petrucelli will retire on March 2, 2027, and Christopher Tangard will succeed him.
- Chord Energy (CHRD) promoted Michael Lou to president and CEO on Oct. 19 after Daniel Brown resigned for another opportunity.
- Kiniksa Pharmaceuticals (KNSA) named Ross Moat president and COO, raising his base salary to $700,000 in January.
- Lear (LEA) named Jared Fedele CFO effective March 1, 2027, succeeding Jason Cardew, who will become an executive adviser.
- UFP Industries (UFPI) said Matthew Missad will retire as executive chairman at year-end and receive a $5 million separation payment.
- Fox Factory (FOXF) made director Douglas Grimm interim CEO in October after Michael Dennison stepped down and resigned from the board.
- Ironwood Pharmaceuticals (IRWD) will promote commercial chief Tammi Gaskins to CEO in January 2027, with Thomas McCourt remaining a director.
- GBank Financial (GBFH) made Jeffrey Newgard president and CEO in October; the stock is down 55% over the past year.
Executive Moves Filed This Week
CEO, CFO, COO, president and chair changes in SEC filings, Oct. 16–23, at U.S. companies over $500 million: 40 moves at 26 companies. Smaller companies, director and other officer moves are on the Boardroom Alpha platform.
| Company | Mkt cap | Who | Seat | In/Out | Effective | Filing |
|---|---|---|---|---|---|---|
| Union Pacific(UNP) | $177.1B | Jennifer L. Hamann | CFO | Out | 8-K | |
| Medtronic(MDT) | $123.6B | Michael Marinaro | President, Medtronic | In | Oct. 14, 2026 | 8-K |
| Truist Financial(TFC) | $59.2B | D. Steve Boland | Vice Chair | In | Oct. 16, 2026 | 8-K |
| Comfort Systems Usa(FIX) | $45.0B | William George | CFO | Out | 8-K | |
| Julie Shaeff | Executive Vice President and CFO | In | 8-K | |||
| Expand Energy(EXE) | $21.5B | Daniel E. Brown | CEO | In | Oct. 26, 2026 | 8-K |
| Michael A. Wichterich | Interim President and CEO | Out | Oct. 26, 2026 | 8-K | ||
| BALL(BALL) | $17.4B | Kathleen Pitre | President | Out | Oct. 19, 2026 | 8-K |
| Mandy Glew | President | Out | Dec. 31, 2026 | 8-K | ||
| Evercore(EVR) | $9.8B | Nigel Dawn | Co-President | In | Jan. 1, 2027 | 8-K |
| Naveen Nataraj | Co-President | In | Jan. 1, 2027 | 8-K | ||
| Jason Sobol | Chairman of U.S. Investment Banking | In | 8-K | |||
| Kinsale Capital(KNSL) | $8.9B | Bryan P. Petrucelli | CFO | Out | Mar. 2, 2027 | 8-K |
| Christopher R. Tangard | CFO | In | Mar. 2, 2027 | 8-K | ||
| Chord Energy(CHRD) | $8.2B | Michael Lou | President & CEO | In | Oct. 19, 2026 | 8-K |
| Daniel Brown | CEO | Out | Oct. 19, 2026 | 8-K | ||
| Lithia Motors(LAD) | $6.4B | Bryan B. DeBoer | Chairman of the Board | In | Oct. 19, 2026 | 8-K |
| Kiniksa Pharmaceuticals International(KNSA) | $6.3B | Ross Moat | President and COO | In | Oct. 17, 2026 | 8-K |
| LEAR(LEA) | $5.9B | Jason M. Cardew | CFO | Out | Feb. 28, 2027 | 8-K |
| Jared Fedele | CFO | In | Mar. 1, 2027 | 8-K | ||
| Erasca(ERAS) | $4.9B | Nicholas (Nik) Chetwyn, Ph.D. | COO | Out | Nov. 2, 2026 | 8-K |
| Mattel(MAT) | $4.8B | Peter Griffith | CFO | In | Oct. 20, 2026 | 8-K |
| Crispr Therapeutics(CRSP) | $4.8B | Andrew J. Silver | CFO | In | Oct. 19, 2026 | 8-K |
| Raju Prasad, Ph.D. | CFO | Out | Oct. 19, 2026 | 8-K | ||
| Ufp Industries(UFPI) | $4.6B | Matthew J. Missad | Executive Chairman | Out | Dec. 31, 2026 | 8-K |
| Neptune Insurance(NP) | $3.9B | Jim Steiner | CFO | In | 8-K | |
| Cristian Melej | CFO | Out | Oct. 19, 2026 | 8-K | ||
| Standex International(SXI) | $2.9B | Samantha L. Stoddard | CFO | In | Dec. 1, 2026 | 8-K |
| Ademir Sarcevic | CFO | Out | Dec. 1, 2026 | 8-K | ||
| Newell Brands(NWL) | $2.4B | Guillermo H. Beade | COO | In | Oct. 26, 2026 | 8-K |
| Dime Commercial Bancshares(DCOM) | $1.9B | Thomas Sperzel | President and COO | Out | 8-K | |
| Millerknoll(MLKN) | $1.5B | Jeffrey M. Stutz | CEO | In | Oct. 21, 2026 | 8-K |
| Old Second Bancorp(OSBC) | $1.3B | Gary Collins | Vice Chairman | Out | Oct. 31, 2026 | 8-K |
| Frequency Electronics(FEIM) | $694.4M | Allen Kaplan | CFO | In | Nov. 1, 2026 | 8-K |
| Steven L. Bernstein | CFO | Out | Nov. 1, 2026 | 8-K | ||
| Fox Factory Holding(FOXF) | $644.3M | Michael C. Dennison | CEO | In | Oct. 15, 2026 | 8-K |
| Douglas J. Grimm | CEO | In | Oct. 16, 2026 | 8-K | ||
| Ironwood Pharmaceuticals(IRWD) | $589.9M | Tammi Gaskins | CEO | In | Jan. 1, 2027 | 8-K |
| Thomas McCourt | CEO | Out | Dec. 31, 2026 | 8-K | ||
| Shenandoah Telecommunications(SHEN) | $549.7M | Christopher E. French | non-executive Chairman of the Board | Out | Jan. 1, 2027 | 8-K |
CEO, CFO and Board Turnover Trends by Role and Sector
| Role | This Week | MTD | Last 12 Mo. | Prior 12 Mo. | YoY |
|---|---|---|---|---|---|
| CEO transitions | 4 | 26 | 468 | 493 | -5.1% |
| CFO transitions | 6 | 39 | 719 | 737 | -2.4% |
| Director adds | 38 | 153 | 2,672 | 2,783 | -4.0% |
| Director exits | 29 | 87 | 2,858 | 2,915 | -2.0% |
| Sector | # Co. | CEO · 30D | CEO · 1Y | CFO · 30D | CFO · 1Y |
|---|---|---|---|---|---|
| Consumer Defensive | 153 | 6.5% | 28.1% | 3.9% | 25.5% |
| Basic Materials | 173 | 3.5% | 20.2% | 2.9% | 22.0% |
| Energy | 130 | 1.5% | 19.2% | 3.8% | 25.4% |
| Communication Services | 131 | 0.8% | 16.0% | 5.3% | 22.1% |
| Industrials | 422 | 3.1% | 15.6% | 3.8% | 23.7% |
| Consumer Cyclical | 345 | 2.6% | 15.1% | 3.2% | 23.5% |
| Healthcare | 779 | 1.8% | 14.2% | 2.4% | 19.9% |
| Technology | 479 | 1.0% | 12.7% | 2.1% | 21.5% |
| Financial Services | 577 | 2.1% | 11.6% | 2.3% | 15.8% |
| Real Estate | 220 | 1.8% | 7.7% | 1.8% | 14.1% |