Weekly CEO & CFO Moves – February 2, 2024

by | Feb 2, 2024

Boardroom Alpha provides in-depth analytics and tracking of all public company executives and officers. Below is a rundown of the CEO moves and CFO moves made at notable companies this past week. Get a demo today to see how you can receive real-time alerts and in-depth analytics.

iRobot Executives Scramble After Amazon Deal Falls Through. Macy’s Gets New CEO Amid Arkhouse Interest. Levi Strauss Bet on ex-Khol’s CEO Michelle Gass Starts.

iRobot’s (IRBT) troubles got worse when Amazon (AMZN) terminated the potential acquisition. CEO Colin Angle stepped down as both CEO and Chair as he believes the company is in need of a leader with turnaround expertise. Glen Weinstein, iRobot’s EVP and Chief Legal Officer steps into the role on an interim basis. The company also announced a RIF (reduction in force) of 350 employees (31% of their workforce).

Macy’s (M) has replaced longtime CEO Jeff Gennette with Tony Spring. Spring’s entire career has been at Macy’s. Spring is under immediate pressure as it faces Arkhouse and Brigade Capital in a potential takeover (Macy’s already rejected a $5.8B bid from them), a challenging retail environment, and stock drop of -20% over the past year (bolstered by a recovery in ’23 Q4 which may not last).

Levi Strauss & Co’s bet on ex-Kohls’ (KSS) CEO Michelle Gass to lead a LEVI recover starts in earnest. Gass was tipped to take on the CEO role ever since she joined as President and LEVI board member in January 2023 (first announced in November 2023). Gass’s tenure at Khols was not smooth nor generally well regarded. Over her four year tenure Kohl’s stock dropped more than -50% and annualized TSR was -11%. Ancora, one of the activists pushing at Kohls at the time, had this to say: “it is the right time for the Company to pivot to a leadership team with enhanced operational expertise and strong turnaround experience.”

CEO Moves

Quick Jump to CEO changes: ALLY, CINF, CMRA, CVRX, IRBT, LAKE, LEVI, M, NTGR, ORLY, PATH, QUBT, RMCF, ROI, SABS, TECH, TITN, VLCN, WDAY, WETG

ALLY FINANCIAL INC (ALLY) 
Leaving: CEO – Jeffrey Jonathan Brown ( 8.9 yrs ; 7.9% TSR)
Replaced by (interim)Douglas R Timmerman
Douglas R. Timmerman — President of Dealer Financial Services of Ally since August 2021. In this role, Mr. Timmerman, 60, is responsible for deepening Ally’s relationships with more than 23,000 dealer customers and further optimizing the full spectrum of automotive finance and insurance services for dealer and consumer customers. Previously, he was president of Automotive Finance since 2018, and …read full bio

BIO-TECHNE CORP (TECH) 
Leaving: CEO – Charles R Kummeth ( 10.8 yrs ; 15.2% TSR)
Replaced by: Kim Kelderman
Kim Kelderman joined Bio-Techne on April 30, 2018 as President, Diagnostics and Genomics. Prior to Bio-Techne, Mr. Kelderman was an executive at Thermo Fisher Scientific and a Senior Segment Leader at Becton Dickinson….read full bio

CVRX INC (CVRX) 
Leaving: CEO – Nadim Yared ( 2.6 yrs ; -.5% TSR)
Replaced by: Kevin Hykes
Mr. Hykes, age 58, currently serves as the President and CEO of Augmedics, an augmented reality surgical navigation company, a position he has held since December 2021. He has also served as a Venture Advisor to Vensana Capital, a medtech-focused investment firm, since November 2019. Mr. Hykes previously served as the President and Chief Executive Officer of each of Bardy Diagn…read full bio

IROBOT CORP (IRBT) 
Leaving: CEO – Colin M Angle ( 26.6 yrs ; -.7% TSR)
Replaced by (interim)Glen Daniel Weinstein
Mr. Weinstein, 53, served as the Company’s Executive Vice President and Chief Legal Officer from August 2012 to January 2024 . Mr. Weinstein previously served as the Company’s General Counsel from July 2000 to August 2012 and as Senior Vice President from January 2005 to August 2012. He also served as the Company’s Secretary from March 2004 to January 2024. Prior to joi…read full bio

LAKELAND INDUSTRIES INC (LAKE) 
Leaving: CEO – Charles D Roberson ( 3.9 yrs ; 10.6% TSR)
Replaced by (interim)James M Jenkins
Mr. Jenkins was appointed the Company’s Executive Chairman on August 30, 2023. Mr. Jenkins, age 59, has served as the Company’s Board Chair since February 1, 2023, previously served as Vice Chair of the Board from June 2022 through January 2023, and has served as a director of Lakeland since September 2016. Mr. Jenkins currently serves as Chief Legal Officer, Corporate Development Offi…read full bio

LEVI STRAUSS & CO (LEVI) 
Leaving: CEO – Charles V Bergh ( 12.3 yrs ; -5.1% TSR)
Replaced by: Michelle Gass
Ms. Gass, 54, most recently served as the Chief Executive Officer of Kohl’s Corporation, a public company, beginning in May 2018. Prior to her role as Chief Executive Officer, she served as Kohl’s Chief Merchandising and Customer Officer from 2015 to 2018 and Chief Customer Officer from 2013 to 2015. Before joining Kohl’s, Ms. Gass held a variety of leadership roles at …read full bio

MACY’S INC (M) 
Leaving: CEO – Jeffrey Gennette ( 6.9 yrs ; -3.1% TSR)
Replaced by: Antony Spring
Mr. Spring has served as President and CEO-Elect of Macy’s since 2023, Executive Vice President since 2021 and in various roles within the Bloomingdale’s organization for 36 years….read full bio

NETGEAR INC (NTGR) 
Leaving: CEO – Patrick Cs Lo ( 21.8 yrs ; 1.2% TSR)
Replaced by: Charles J Prober
Prior to joining the Company, Mr. Prober, age 52, served as President of Life360, Inc. (ASX: LIFX) (“Life360”) from January 2022 to July 2023. CJ joined Life360 via the acquisition of Tile, Inc. (“Tile”) in January 2022 and served as the Chief Executive Officer of Tile from September 2018 to January 2022. Mr. Prober also previously served as a member of Tile’s board of directors from Februar…read full bio

O REILLY AUTOMOTIVE INC (ORLY) 
Leaving: CEO – Gregory D Johnson ( 5.7 yrs ; 28.2% TSR)
Replaced by: Brad W Beckham
Mr. Beckham, age 44, has been an O’Reilly Team Member since 1996. Mr. Beckham’s O’Reilly career began as a Parts Specialist and progressed through the roles of Store Manager, District Manager, Regional Manager, Divisional Vice President, Vice President of Eastern Store Operations and Sales, Senior Vice President of Eastern Store Operations and Sales, Senior Vice President of Central Store Operatio…read full bio

QUANTUM COMPUTING INC (QUBT) 
Leaving: CEO – Robert Liscouski ( 6.0 yrs ; -30.7% TSR)
Replaced by: William J McGann
Dr. McGann has a decade-long track record for transforming credible science into practical technology in steps of innovation, engineering, and leadership. In his role as QCi’s CTO, Dr. McGann has driven the launch of QCi products in the areas of quantum optimization machines, reservoir computing for AI, quantum remote sensing, and quantum random number generation in 2023. Bill and the team a…read full bio

RISKON INTERNATIONAL INC (ROI) 
Leaving: CEO – Randy May ( 6.3 yrs ; -71.0% TSR)
Replaced by: Milton C Ault III
Mr. Ault, 54, currently holds the position of Executive Chairman at Ault Alliance, Inc. (“AAI”), a diversified holding company listed on the NYSE American and Chairman of the Board at Ault Disruptive Technologies Corporation (“ADRT”), a Special Purpose Acquisition Company listed on the NYSE. Since January 2011, Mr. Ault has been the Vice President of Business Development at…read full bio

ROCKY MOUNTAIN CHOCOLATE FACTORY INC (RMCF) 
Leaving: CEO – Robert J Sarlls ( 1.7 yrs ; -21.0% TSR)
Replaced by (interim)Starlette B Johnson
Starlette B. Johnson, age 61, has served as a member of the Board since March 2022. Ms. Johnson has served as a consultant to the hospitality and entertainment industries, through SBJ Advisory Group, LLC, working with both public and private companies since 2012. In October 2020, she joined the board of Tastemaker Acquisition Corporation (NASDAQ: TMKR), a special purpose acquisition company focusi…read full bio

TITAN MACHINERY INC (TITN) 
Leaving: CEO – David Joseph Meyer ( 44.1 yrs ; 5.4% TSR)
Replaced by: Bryan J Knutson
Mr. Knutson, age 45, became the Company’s Chief Operating Officer in August 2017, adding the position of President in 2022. Mr. Knutson joined the Company in 2002, beginning his career in equipment sales and later advancing to store manager, complex manager, region manager and then became the Company’s Vice President – Ag Operations in 2016. Mr. Knutson is a curren…read full bio

UIPATH INC (PATH) 
Leaving: CEO – Daniel Dines ( 18.3 yrs ; -35.0% TSR)
Replaced by: Dines steps down as co-CEO leaving Robert Enslin as sole CEO. Enslin has been in the role for a little over a year and a half and delivered annualized TSR growth of 21%.

VOLCON INC (VLCN) 
Leaving: CEO – Jordan Don Davis ( 2.5 yrs ; -92.7% TSR)
Replaced by (interim)Greg Endo
Greg Endo , Chief Financial Officer 57 Mr. Endo has served as our Chief Financial Officer (“CFO”) since June 7, 2021. Prior to joining Volcon, Mr. Endo worked for over 26 years at Deloitte & Touche LLP. From August 2006 until his retirement in September 2020, Mr. Endo was an audit and advisory partner, advising public and private companies in the manufacturing, technology, and real estate industri…read full bio

WETRADE GROUP INC (WETG) 
Leaving: CEO – Ling Jiang ( .3 yrs)
Replaced by: Weihong Liu
Mr. Weihong Liu has more than 6 years of investment and research experience in the fields of crypto assets and blockchain technology. Mr. Liu has conducted in-depth analysis and strategic layout of potential investment opportunities in crypto assets. In addition, Mr. Liu has innovative business plans in high-tech and rapidly growing artificial intelligence generated content businesses, and he has …read full bio

WORKDAY INC (WDAY) 
Leaving: CEO – Aneel Bhusri ( 9.8 yrs ; 13.9% TSR)
Replaced by: As Aneel Bhusri steps down from the Co-CEO role at Workday, Carl Essenbach becomes sole CEO. Essenbach has been co-CEO for a little over a year and has delivered 61% TSR over that time.

CFO Moves

Quick Jump to CFO changes: AMBA, CMBM, CYDY, ETN, GDST, HCA, IPSC, MKTX, NRXS, REAL, REGN, ROI, SFBS, SLAB, TCRX

AMBARELLA INC (AMBA) 
Leaving: CFO – Brian C White ( 1.8 yrs ; -23.9% TSR)
Replaced by: John A Young
Mr. Young, 52, has served as the Company’s Vice President of Finance since December 2019 and previously served as the Company’s Corporate Controller from March 2017 to December 2019. Mr. Young also served as the Company’s Principal Accounting Officer and Principal Financial Officer from November 2021 until April 2022. Prior to joining Ambarella, Mr. Young served in a variety of roles at Mellanox T…read full bio

CAMBIUM NETWORKS CORP (CMBM) 
Leaving: CFO – Andrew P Bronstein ( 1.8 yrs ; -56.9% TSR)
Replaced by: John Monroy Becerril
Mr. Becerril has served as the Company’s Global Controller and principal accounting officer since September, 2022. From February 2019 to September 2022, Mr. Becerril was senior director and corporate controller at Elkay Manufacturing, a privately held global plumbing products manufacturing company….read full bio

EATON CORP PLC (ETN) 
Leaving: CFO – Thomas B Okray ( 2.8 yrs ; 24.0% TSR)
Replaced by: Olivier Leonetti
Leonetti joins Eaton from Johnson Controls, where he served as executive vice president and chief financial officer. Before joining Johnson Controls in 2020, he served as chief financial officer of Zebra Technologies Corporation and Western Digital Corporation and held senior finance leadership roles at Global Commercial Organization, Amgen, Inc., and Dell, Inc. He also serves on the board of…read full bio

GOLDENSTONE ACQUISITION LTD (GDST) 
Leaving: CFO – Ray Chen ( 2.6 yrs ; 4.2% TSR)
Replaced by: Eddie Ni
Mr. Eddie Ni, our President and Chief Executive Officer, brings us his more than 30 years of investment, business management and entrepreneurial experience. He has been the chairman and chief executive officer of Windfall Group since December 2009. Windfall Group, a Ohio corporation, has a large business portfolio involved in a variety of industries in U.S., including real estate, building supply,…read full bio

HCA HEALTHCARE INC (HCA) 
Leaving: CFO – Bill B Rutherford ( 10.3 yrs ; 20.1% TSR)
Replaced by: Michael A. Marks
Mr. Marks joined HCA Healthcare in 1996 and has served as Senior Vice President — Finance since January 1, 2023. Mr. Marks previously served as Vice President — Financial Operations Support from March 2021 to December 2022. Prior to that time, he served as CFO of the National Group from December 2008 to February 2021 and CFO of the West Florida Division from January 2006…read full bio

MARKETAXESS HOLDINGS INC (MKTX) 
Leaving: CFO – Christopher N Gerosa ( 2.4 yrs ; -18.5% TSR)
Replaced by: Christopher R Concannon
Christopher R. Concannon has been our Chief Executive Officer since April 2023. Prior to serving in this role, Mr. Concannon served as our President and Chief Operating Officer from January 2019 to April 2023. Mr. Concannon previously served as President and Chief Operating Officer of Cboe Global Markets, Inc., one of the world’s largest exchange holding companies, until 2019, a position he was ap…read full bio

NEURAXIS INC (NRXS) 
Leaving: CFO – John G Seale ( 1.4 yrs ; -53.2% TSR)
Replaced by: Timothy Robert Henrichs
Timothy Henrichs has been a finance executive for the last 14 years. Mr. Henrichs currently serves as the Chief Financial Officer of HomeRenew Buyer, Inc. (d/b/a Renovo Home Partners), a privately held short-term home improvement installer of bathrooms, kitchens, windows, doors, cabinets, roofing and siding across the United States. Prior to joining Renovo Home Partners, Mr.&nb…read full bio

REGENERON PHARMACEUTICALS INC (REGN) 
Leaving: CFO – Robert E Landry ( 10.4 yrs ; 13.5% TSR)
Replaced by: Christopher R Fenimore
Mr. Fenimore, 53, has served as Senior Vice President, Controller since January 2021. He previously served as Vice President, Controller from March 2017 to December 2020, as Vice President, Deputy Controller from January 2017 to March 2017, and as Vice President, Financial Planning from January 2012 to December 2016. Prior to joining the Company in 2003, he …read full bio

RISKON INTERNATIONAL INC (ROI) 
Leaving: CFO – Jay M Puchir ( 1.8 yrs ; -96.2% TSR)
Replaced by: Kayson Pulsipher
Mr. Pulsipher, 43, brings more than 15 years of professional experience in various senior accounting and finance roles to the Company. Prior to his appointment as the Chief Financial Officer, Mr. Pulsipher served as the Director of Reporting and Technical Accounting since August 17, 2023 for the Company, as well as its Senior Vice President of Finance since December 19, 2023. Mr. Pulsipher has ser…read full bio

SERVISFIRST BANCSHARES INC (SFBS) 
Leaving: CFO – William M Foshee ( 17.1 yrs ; 18.3% TSR)
Replaced by: Kirk Pressley
Mr. Presley, 57, joined ServisFirst Bank as Executive Vice President of Strategic Planning in July of 2023. Prior to joining ServisFirst Bank, Mr. Pressley started his career as an external auditor focused on financial institutions for two large international public accounting firms. Pressley then served as the Controller for BBVA USA Bancshares, previously BBVA Compass Bancshares, from …read full bio

SILICON LABORATORIES INC (SLAB) 
Leaving: CFO – John C Hollister ( 10.7 yrs ; 10.8% TSR)
Replaced by (interim)Mark D Mauldin
Mr. Mauldin, age 53, has served as the Company’s Chief Accounting Officer since April 11, 2021, the Company’s Vice President of Finance since February 2016, and in various other finance and accounting positions since joining the Company in 2004. Mr. Mauldin is a Certified Public Accountant and has a master’s degree in accounting and a bachelor’s degree in business administration from the Universit…read full bio

THEREALREAL INC (REAL) 
Leaving: CFO – Robert K Julian ( 2.3 yrs ; -56.1% TSR)
Replaced by (interim)Todd A Suko
Mr. Suko, age 57, joined the Company in May 2020 as Chief Legal Officer and Secretary. Previously, Mr. Suko served as Chief Legal Officer at OneMarket Limited (ASX:OMN) and its predecessor from November 2017 to May 2020, and also served as Chief Financial Officer from November 2018 to May 2020. Prior to joining OneMarket, Mr. Suko was at Harman International Industries, Inc. (NYSE:HAR) from Septem…read full bio

TSCAN THERAPEUTICS INC (TCRX) 
Leaving: CFO – Gavin Macbeath ( .5 yrs ; 103.8% TSR)
Replaced by: Jason Amello
Mr. Amello, age 55, previously served as the Chief Financial Officer, Treasurer and Secretary of Candel Therapeutics, Inc., from September 2022 to January 2024. Prior to that, Mr. Amello served as Chief Financial Officer and Treasurer of Saniona AB from September 2020 to April 2022. Mr. Amello also served as Senior Vice President, Chief Financial Officer and Treasurer of Akebia Ther…read full bio

Recent Analysis

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