Weekly CEO & CFO Moves + Most Searched Executives – January 19, 2024

by | Jan 19, 2024

About the Weekly
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.

Special Recap: 2023 New CEO Winners & Losers

Weekly CEO & CFO Move Wrap

Wendy's (WEN) vs SP500

Long-time Wendy’s (NASDAQ: WEN) CEO Todd Penegor steps down after almost 8 years at the helm. Kirk Tanner, a PepsiCo veteran, takes over as Wendy’s CEO on February 5. Tanner has been at Pepsi for over three decades and currently heads Pepsi’s North American beverage business. The CEO change comes as WEN stock continues to underperform — down almost -14% in the last year (as of this writing) and dramatically trailing the SP500 over the past 5 years.

The Wendy’s leadership change comes while activist investor Blackwells Capital is planning to challenge the Wendy’s board which puts them in directly conflict with Nelson Peltz — current WEN chair — and his activist firm Trian. Trian and Peltz considered a takover of WEN in ’23, but decided against it. They have been significant investors in WEN since 2005.  And, for those watching closely, remember that Blackwells is also targeting Peltz and Trian at Disney.

CEO Moves

ACLARIS THERAPEUTICS INC (ACRS)
Leaving: CEO – Douglas J Manion ( 1.0 yrs ; -91.6% TSR)
Replaced by (interim)Neal Walker
Neal Walker co-founded our company and served as Chief Executive Officer from our inception in 2012 until December 2022. Dr. Walker has also served as a member of our Board since our inception and currently serves as its Chair. Dr. Walker co-founded NeXeption, LLC, a biopharmaceutical assets management company, in 2012. Dr. Walker co-founded and served as President and Chief Executive Officer and …read full bio

COMPASS MINERALS INTERNATIONAL INC (CMP)
Leaving: CEO – Kevin S Crutchfield ( 4.7 yrs ; -14.0% TSR)
Replaced by: Edward C Dowling
Dowling served as the president, CEO and director of Alacer Gold Corp., now SSR Mining Inc., from 2008 to 2012, and chairman from 2013 to 2020. Previously, he held executive roles with both domestic and international mining companies, including as president and CEO of Meridian Gold Inc. from 2006 to 2007 and executive director for mining and exploration at De Beers S.A., a diamond producer, from 2…read full bio

DEFINITIVE HEALTHCARE CORP (DH)
Leaving: CEO – Robert W Musslewhite ( 1.4 yrs ; -47.3% TSR)
Replaced by (interim)Jason Ronald Krantz
Mr. Krantz, age 50, has served as Executive Chairman of the Board of Directors of the Company since August 2022, having previously served as Chief Executive Officer and director since founding the Company in February 2011. Prior to founding Definitive Healthcare, Mr. Krantz founded and served as CEO of Infinata, a SaaS based provider of intelligence to the pharmaceutical industry under the brand B…read full bio

DIGITALOCEAN HOLDINGS INC (DOCN)
Leaving: CEO – Yancey L Spruill ( 4.5 yrs ; -4.6% TSR)
Replaced by: Padmanabhan T Srinivasan
Mr. Srinivasan, age 48, has served as the Chief Executive Officer of GoTo (formerly LogMeIn, Inc.), a provider of software as a service and cloud-based remote work tools for collaboration and IT management, since August 2022 and, prior to serving in such capacity, Mr. Srinivasan served as the Chief Product and Technology Officer at GoTo from June 2020 to August 2022. From June 2019 to June 2020, M…read full bio

GOODYEAR TIRE & RUBBER CO (GT)
Leaving: CEO – Richard J Kramer ( 13.8 yrs ; 1.2% TSR)
Replaced by: Mark Stewart
Mr. Stewart, 56, joins the Company from Stellantis N.V., a leading global automaker and provider of innovative mobility solutions, where he served as Chief Operating Officer of North America and a member of the Group Executive Council from December 2018 to January 2024….read full bio

ONCONETIX INC (ONCO)
Leaving: CEO – Neil Campbell ( .3 yrs)
Replaced by (interim)Ralph Schiess
Dr. Schiess co-founded Proteomedix in March 2010 and served as its Chief Executive Officer from its inception until December 2019. Dr. Schiess then served as Proteomedix’s Chief Scientific Officer from January 2020 to May 2023. Dr. Schiess returned to his role as Chief Executive Officer in June 2023 and served until the consummation of the Share Exchange. Dr. Schiess is qualified to serve as…read full bio

SOLO BRANDS INC (DTC)
Leaving: CEO – John Merris ( 2.3 yrs ; -44.1% TSR)
Replaced by: Christopher T Metz
Prior to joining the Company, Mr. Metz, age 58, served as President and Chief Executive Officer of Vista Outdoor Inc. (NYSE: VSTO), a designer, manufacturer, and marketer of outdoor sports and recreation products from October 2017 to March 2023. Prior to Vista Outdoor Inc., Mr. Metz served as President and Chief Executive Officer of Arctic Cat Inc., a manufacturer of all-terrain&nbs…read full bio

TRANSCODE THERAPEUTICS INC (RNAZ)
Leaving: CEO – Robert Michael Dudley ( 2.5 yrs ; -91.7% TSR)
Replaced by (interim)Thomas A Fitzgerald
Thomas A. Fitzgerald, MBA was appointed Interim Chief Executive Officer of Transcode on January 13, 2024 and also serves as TransCode’s Principal Financial Officer and Director. Since July 2018 (initially part-time), he served as TransCode’s Chief Financial Officer. From August 2006 to December 2018 (the last 15 months on a half-time basis), he served as Chief Financial Officer of Velico Medical, …read full bio

VAXART INC (VXRT)
Leaving: CEO – Cezar Andrei Floroiu ( 3.6 yrs ; -33.9% TSR)
Replaced by (interim)Michael J Finney
Dr. Finney, age 65, has served as a member of the Board since February 2018 and as Chair of the Board since March 2023. …read full bio

WENDY’S CO (WEN)
Leaving: CEO – Todd Allan Penegor ( 7.8 yrs ; 10.3% TSR)
Replaced by: Kirk Tanner
Mr. Tanner, age 55, served as Chief Executive Officer, PepsiCo Beverages North America of PepsiCo, Inc. from January 2019 until January 2024. Prior to 2019, Mr. Tanner held several leadership roles at PepsiCo, including President and Chief Operating Officer, North America Beverages from 2016 to 2018, Chief Operating Officer, North America Beverages and President, Global Foodservice from …read full bio

CFO Moves

AMETEK INC (AME)
Leaving: CFO – William Joseph Burke ( 7.9 yrs ; 17.2% TSR)
Replaced by: Dalip Puri
Mr. Puri, 51, currently serves as Senior Vice President – Operational Finance of the Company, a position he has held since September 1, 2023. Prior, Mr. Puri held the position of Vice President – Operational Finance of the Company from July 2023 to September 2023. From October 2021 to July 2023, Mr. Puri held the position of Vice President – Group Controller. From…read full bio

EATON CORP PLC (ETN)
Leaving: CFO – Thomas B Okray ( 2.8 yrs ; 24.1% 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

ENERGOUS CORP (WATT)
Leaving: CFO – Susan Kim-van Dongen ( .5 yrs *interim; -69.4% TSR)
Replaced by: Mallorie Sara Burak
Prior to joining the Company, Ms. Burak served as President and Chief Financial Officer of Knightscope, Inc., an advanced public safety technology company, from October 2020 to January 2024, Chief Financial Officer of ThinFilm Electronics ASA, a solid-state lithium battery start-up, from July 2019 to June 2020, and Chief Financial Officer of Alta Devices, Inc., a GaAs thin-film sola…read full bio

FARO TECHNOLOGIES INC (FARO)
Leaving: CFO – Allen L Muhich ( 4.5 yrs ; -16.0% TSR)
Replaced by: Matthew Horwath
Mr. Horwath, age 40, joined FARO in May 2017 and has served as Vice President of Finance since July 2021, prior to which he led FARO’s financial reporting, technical accounting and tax team. Before joining FARO, Mr. Horwath’s background included public accounting at Ernst & Young LLP and corporate accounting positions at Winn-Dixie Stores, Inc. Mr. Horwath is a licensed Certified P…read full bio

FOGHORN THERAPEUTICS INC (FHTX)
Leaving: CFO – Allan Reine ( 4.3 yrs ; -27.3% TSR)
Replaced by (interim)Stephen J Dipalma
Mr. DiPalma, age 65, has served as a managing director at Danforth, a consultancy firm specializing in working with life sciences companies, since April 2014. Prior to and during his tenure at Danforth, Mr. DiPalma has served as chief financial officer to a number of public and privately held companies. Mr. DiPalma received a B.S. in finance and management information systems from the University o…read full bio

INHIBIKASE THERAPEUTICS INC (IKT)
Leaving: CFO – Joseph Frattaroli ( 4.1 yrs ; -68.9% TSR)
Replaced by: Garth Lees- Rolfe
Mr. Lees-Rolfe, age 39, has served as the Vice President of Finance at the Company since November 2022. Mr. Lees-Rolfe previously served as the Vice-President, Finance for F-Star, Inc., a publicly traded global clinical-stage biotech company from December 2021 to November 2022. Prior to that, Mr. Lees-Rolfe worked for 16 years in public practice, most of which was wit…read full bio

JOHNSON CONTROLS INTERNATIONAL PLC (JCI)
Leaving: CFO – Olivier Leonetti ( 3.4 yrs ; 16.1% TSR)
Replaced by: Marc Vandiepenbeeck
Vandiepenbeeck joined Johnson Controls nearly 20 years ago and has held roles of increasing responsibility across the company’s finance and treasury teams. Prior to his most recent operations role as vice president and president, EMEALA, he was chief financial officer for the Building Solutions North America business. Additionally, Vandiepenbeeck led the financial management of the company’s…read full bio

ORTHOFIX MEDICAL INC (OFIX)
Leaving: CFO – Geoffrey C. Gillespie ( .3 yrs *interim; )
Replaced by: Julie Andrews
Ms. Andrews, 52, served as Chief Financial Officer of Smart Wires Technology, a global transmission grid technology company focused on enabling the transition to renewable energy, from August 2021 to April 2023. Between September 2019 and December 2020, she served as Senior Vice President, Global Finance of Wright Medical Group, where she led a 170-person finance team. She served from May 2012 to …read full bio

 

Top Executive Searches

Here are some of the top executives searches via Google over the past week.

Charles Gassenheimer

In the News
MD at Flacks Group which owns Kelley-Moore Paints which is going out of business due to asbestos lawsuits

Biography
Charles Gassenheimer – Chief Executive Officer, Secretary and Director. Mr. Gassenheimer has served as our Chief Executive Officer, Secretary and as a member of our board of directors since December 2020. He has served as a Founder and President of CHR, a New York City-based private equity firm, since 2012. Mr. Gassenheimer has previously served as the Chief Executive Officer, and currently serves as a director, of Unimed Holdings, LLC, and he serves as President of Omnis Energy Refineries, LLC, each portfolio companies of CHR. He leads CHR’s financial and strategic advisory services efforts as well as its growth equity investment platform. Mr. Gassenheimer advises Karma Automotive and is also an advisory board member of ZincFive, a developer and manufacturer of nickel-zinc batteries. Prior to that he spent six years managing the family office of a multi-billion dollar family focused on clean technologies. During his tenure there he became chairman and subsequently, CEO of Ener1, a developer and manufacturer of lithium-ion batteries and chairman of Norwegian Electric Vehicle Maker Think Electric.
-> See Charles Gassenheimer’s Profile & Track Record

Edward M Christie III

In the News
CEO of Spirit Airlines which just had its merger with JetBlue (JBLU) blocked 

Biography
Christie joins the Encompass Health board with significant experience in finance, strategic and public company leadership, operations, and governmental regulation. Christie currently serves as President and Chief Executive Officer of Spirit Airlines, Inc., a leading ultra low-cost carrier in the United States. Prior to joining Spirit in 2012, he served as the senior vice president and chief financial officer for Pinnacle Airlines Corporation.
-> See Edward M Christie III’s Profile & Track Record

Olivier Leonetti

In the News
Appointed EVP and CFO of Eaton (ETN)

Biography
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 All-In Milwaukee and has been a member of Eaton’s board of directors since 2019, a role he will step down from.
-> See Olivier Leonetti’s Profile & Track Record

Vivek Ramaswamy

In the News
Dropped out of the Republican presidential primary.

Biography
Vivek Ramaswamy is our Founder and, since the closing of the Business Combination, has served as Chair of our Board of Directors. Mr. Ramaswamy has also served as Chairman of Roivant Sciences, Inc. (“RSI”) since January 2021 and, prior to taking that role, as Chief Executive Officer, from May 2014. Mr. Ramaswamy is currently the executive chairman of Strive Asset Management, which he co-founded in January 2022. Mr. Ramaswamy previously served as a member of the investment team at QVT Financial, from 2007 to 2014. Mr. Ramaswamy was previously a director of Myovant Sciences, Axovant Sciences and Arbutus Biopharma. Mr. Ramaswamy received his A.B. in Biology from Harvard College and his J.D. from Yale Law School, where he was a Paul & Daisy Soros Fellow. Our Board of Directors believes that Mr. Ramaswamy’s status as our Founder and his extensive prior experience in the biopharmaceutical industry qualifies him to serve as a member of our Board of Directors.
-> See Vivek Ramaswamy’s Profile & Track Record

Julian Nikolchev

In the News
Mr. Nikolchev passed away in early

Biography
Read Intuitive Ventures note on his passing here.

Alexander Coleman

In the News
Coleman’s deSPAC AST SpaceMobile (ASTS) announced investments by Google and AT&T. But, the stock dropped after announcing a $100M stock offering.

Biography
Alexander Coleman has served as our Chairman since November 2020. Alexander Coleman has 20 years of institutional private equity experience, focused predominantly on U.S. based middle market companies operating in the food and beverage, information, satellite communications, and business services and specialized manufacturing markets. Mr. Coleman was most recently chairman of NPA I and will serve as chairman of NPA III. Mr. Coleman is currently a director on the board of AST SpaceMobile Inc Mr. Coleman is the founder and Managing Partner of Annex Capital Management LLC, a U.S. based private equity group founded in 2004.
-> See Alexander Coleman’s Profile & Track Record

Kaled Awada

In the News
Mr. Awada was named Chief People Officer of PG&E

Biography
Mr. Awada has more than 20 years of global leadership and human resources management expertise, including experience working with suppliers to automotive companies. He also brings experience in the matters of corporate strategy, organizational development, and environmental, health and safety. Most recently, Mr. Awada served as Executive Vice President and Chief Human Resources Officer for Tenneco Inc. (formerly NYSE: TEN), a Fortune 500 global automotive supplier. He previously served in executive-level human resources roles with Aptiv PLC and Eaton Corporation.
-> See Kaled Awada’s Profile & Track Record

Nella Domenici

In the News
Ms. Domenici launched a bid for her father’s old seat as New Mexico Republican senator.

Biography
Previously Ms. Domenici was the Chief Financial Officer and member of the Executive Committee at Dataminr, a leading high-growth artificial intelligence company that is late-stage venture backed. In her senior executive role, Ms. Domenici was responsible for legal, compensation, strategy, accounting, financial planning and analysis, investor relations, corporate finance, fundraising, capital structure, tax M&A and partnership, and real estate and workplace operations.

Ms. Domenici serves on the board of directors of AllianceBernstein and on AllianceBernstein’s audit committee, a position she has held since early 2020. She previously served as Chief Financial Officer and a member of the Operating Committee from 2015 to 2018 at Bridgewater Associates, a hedge fund with more than $140 billion in assets under management. Her responsibilities included accounting, budgeting, revenue management, corporate finance and capital structure, tax, shareholder services, strategic initiatives, compensation, and technology investment. From 2012 to 2015, Ms. Domenici was a strategic advisor to Bridgewater’s Management Committee focusing on evolving governance, board and leadership initiatives.

Prior to joining Bridgewater, she held senior managerial, investment banking and strategic positions including: Citadel Investment Group, where she was a member of the Management Committee focusing on strategy and planning; Credit Suisse, where she was Head of Middle Market Mergers and Acquisitions; and The Monitor Consulting Group, where she focused on healthcare. In addition, she is a proven entrepreneur, having founded a successful consulting firm that advised family-owned, private equity, venture-backed and real estate companies.

She co-founded the Excellent Schools of New Mexico, a leading nonprofit organization that supports charter schools in underserved communities, and serves on the Board of Regis High School in New York City, the county’s premier full-scholarship Jesuit college preparatory institution. In addition, she is on the board of Los Alamos National Laboratory Foundation, which is dedicated to improving education. Ms. Domenici previously served on the Board of One World Surgery, which provides access to quality surgical care globally. She was also a member of the Bipartisan Policy Center Behavioral Health Integration Task Force, where she championed initiatives addressing mental illness across the country. She currently serves on the advisory board of the International Folk-Art Market, which generates economic opportunities for folk artists worldwide, particularly women in developing countries. Graduated with an M.B.A. from Harvard Business School, where she was a Baker Scholar, and earned her J.D. from Georgetown University Law Center.
-> See Nella Domenici’s Profile & Track Record

Recent Analysis

Daily SPAC Update – June 14, 2024

PLMI Extension Vote. TETE Extends. COOL Sets Extension Vote. GPAC Investor Deck. BAYA, RCFA, GAMC Merger Agreements. COOL, RWOD, FLFV Update Trust Values.

Daily SPAC Update – June 13, 2024

Catcha Investment (CHAA) + Crown LNG Approved. DHAC + VSee Labs Deal Approved. SEDA Investor Deck. Feutune Light (FLFV) Updates Trust & Redemptions.

Daily SPAC Update – June 10, 2024

Bayview Acquisition Corp + Oabay Inc. SPAC deal announced. EVE extension vote today. BUJA sets extension vote. PWUP amends merger agreement. COOL postpones to June 26.

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