Weekly Executive & Director Moves (July 15)

by | Jul 15, 2022

Boardroom Alpha provides in-depth analytics and tracking of all public company executives and officers. Below is a rundown of people 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.

Highlights

De-SPACs continue to shakeup at the executive ranks. It’s been a theme with many of the early stage growth companies to change up management amidst a tough go out of the gates, and this week brought two more such changes at the CEO level:

  • Lordstown Motors Corp. (RIDE) is already onto its third CEO since deSPAC as automotive veteran Edward Hightower takes over from Daniel Ninivaggi. Ninivaggi had been in the role since founder & CEO Steve Burns was ousted amidst allegations that he misled investors. RIDE shares are down heavily, in the ~$2 range
  • UpHealth (UPH), who debuted as a standalone public company in June of 2021, has also seen shares struggle mightily, now trading sub $1. Samuel Meckey takes over for Ramesh Balakrishnan.

Former Goldman Sachs CFO Marty Chavez has joined the board of Alphabet Inc. (GOOGL). Chavez, current Vice Chairman of Sixth Street, also serves on the board of Recursion Pharmaceuticals (RXRX).

Moves in this Issue

CEO

AGIO, ALLE, B, CDK, CLVT, CMI, DG, FF, GPS, RIDE, UPH

CFO

RNWK, SQZ, SWIM

Directors

ABSI, AGFY, AGIO, AGS, AHH, APA, ASLE, AXGN, BBBY, BOX, CCF, CECE, CERT, CLVT, CMI, CMP, COLM, CTV, CVT, CWBR, DASH, DRH, DRVN, EBS, EL, EQH, ESTC, EYPT, FF, FRBK, GOOGL, GPS, IONQ, KHC, LMT, MLAC, MLNK, MTTR, NLY, OMI, PCSA, PLTK, POOL, PROK, PSX, RETA, RGTI, RIDE, RUBY, RVMD, SABS, SOFO, SWTX, UPH, VMC, VMW, WING

CEO Moves

ALLEGION PLC (ALLE)
Leaving: CEO – David D Petratis ( 9.0 yrs; 10.6% TSR)
Replaced by: John H Stone

Stone, 52, currently serves as president of Deere & Company’s Worldwide Construction, Forestry and Power Systems business. In this role, he is responsible for the sustainable, profitable growth of the company’s construction and forestry equipment business as well as the continued success of the Wirtgen Group. Stone previously headed Deere’s Intelligent…read full bio

BARNES GROUP INC (B)
Leaving: CEO – Julie K Streich ( .3 yrs; )
Replaced by: Thomas J Hook

Mr. Hook, 59, has served as a member of the Board since 2016. He has served as the Chief Executive Officer of SaniSure, Inc. since February 2021 and a director of SaniSure, Inc. since December 2019. He has been a director of Q Holding Company since September 2017, where he served as Chief Executive Officer from September 2017 to January 2021. Mr. Hook also serves as a director of NeuroNexus Inc Mr…read full bio

CDK GLOBAL INC (CDK)
Leaving: CEO – Brian M Krzanich ( 3.7 yrs; -.4% TSR)
Replaced by: Brian P Macdonald

Mr. MacDonald previously served as President and Chief Executive Officer of the Company from January 2016 to November 2018 and a member of the Board of Directors of the Company from June 2015 to November 2018. Mr. MacDonald has a deep knowledge of the Company and the markets it serves. Prior to joining the Company in 2015, Mr. MacDonald served as President and Chief Executive Officer of Hertz Rent…read full bio

CUMMINS INC (CMI)
Leaving: CEO – Norman Thomas Linebarger ( 10.6 yrs; 10.3% TSR)
Replaced by: Jennifer Rumsey

Jennifer Rumsey, the Company’s President and Chief Operating Officer, will succeed Mr. Linebarger as the Company’s President and Chief Executive Officer, effective August 1, 2022. Ms. Rumsey will continue to serve on the Company’s Board, to which she was appointed in February 2022. Ms. Rumsey, age 48, has served as the Company’s President and Chief Operating Officer since March 2021. Previously, M…read full bio

DOLLAR GENERAL CORP (DG)
Leaving: CEO – Todd J Vasos ( 7.4 yrs; 19.4% TSR)
Replaced by: Jeffery Owen

Jeffery Owen, 52, to Chief Executive Officer of the Company effective immediately following Mr. Vasos’ resignation from the Chief Executive Officer role. Mr. Owen has served as the Company’s Chief Operating Officer since August 2019. He returned to Dollar General in June 2015 as Executive Vice President of Store Operations, with over 21 years of previous employme…read full bio

GAP INC (GPS)
Leaving: CEO – Sonia Syngal ( 2.3 yrs; -23.0% TSR)
Replaced by: Bob L Martin

Bob Martin was appointed Executive Chair of the Board, an employee role, in March 2020. At the Board’s request, Mr. Martin serves as an advisor to our CEO and as a member of management. As a result of his service to the Company as an employee, Mr. Martin is not considered an independent director. The Board believes that Mr. Martin’s service as Executive Chair and as an advisor to our CEO continues…read full bio

LORDSTOWN MOTORS CORP (RIDE)
Leaving: CEO – Daniel A Ninivaggi ( .9 yrs; -79.2% TSR)
Replaced by: Edward T Hightower

Mr. Hightower, age 57, has served as the President of the Company since November 2021. Prior to joining the Company, Mr. Hightower served as the Managing director of Motoring Ventures LLC, a global investment and consulting firm for automo tive and manufacturing businesses that Mr. Hightower founded (“Motoring Ventures”), from 2016 to November 2021. At Motoring Ventures, Mr. Hightower advised vehi…read full bio

UPHEALTH INC (UPH)
Leaving: CEO – Ramesh Balakrishnan ( 1.1 yrs; -91.5% TSR)
Replaced by: Samuel Meckey

Meckey brings extensive experience spearheading growth strategies and operational excellence in healthcare to his role as CEO. Most recently, he served as executive vice president and head of healthcare at EXLService Holdings, Inc., where he integrated five businesses into one cohesive operating unit and developed the strategic plan to double the business’s siz…read full bio

CFO Moves

LATHAM GROUP INC (SWIM)
Leaving: CFO – J Mark Borseth ( 1.3 yrs; -66.6% TSR)
Replaced by: Robert L. Masson II

Mr. Masson served on active duty in the United States Navy as a Naval Aviator and Officer from 1992 until 2001. Mr. Masson currently serves on the board of directors of Tech-Etch Inc., an 100% Employee Owned company who creates parts, circuits, and EMI/RFI shielding products. He earned his bachelor’s degree in economics from the United States Naval Academy and his MBA from Harvard Business School….read full bio

REALNETWORKS INC (RNWK)
Leaving: CFO – Christine Chambers ( 1.3 yrs; -69.4% TSR)
Replaced by: Brian McClain

Mr. McClain commenced his engagement with the Company on July 6, 2022, as a strategic advisor. Prior to joining the Company, Mr. McClain served as President and CFO of Pelco, Inc., a leading computer security company, from 2019 to 2021. From 2018 to 2019, Mr. McClain served as CFO of LOUD Audio, a professional audio and music products company. From 2015 to 2018, Mr. McClain served as Presiden…read full bio

SQZ BIOTECHNOLOGIES CO (SQZ)
Leaving: CFO – Armon Sharei ( .7 yrs; -83.7% TSR)
Replaced by: Micah Zajic

Mr. Zajic has served as the Company’s Chief Business Officer since September 2020. Prior to that, from April 2017 to September 2020, Mr. Zajic served as Vice President, Corporate Development at MeiraGTx Limited, a clinical stage gene therapy company. Prior to joining MeiraGTx, from 2014 to April 2017, Mr. Zajic served as Senior Director, Corporate Strategy at Alexion Pharmaceuticals Inc., a global…read full bio

Director Joins

AERSALE CORP (ASLE)
Judith R Feder

General Fedder served as Deputy Chief of Staff for Logistics, Installations and Mission Support, Headquarters U.S. Air Force, Washington, D.C. at the time of her retirement after nearly 35 years of active duty Air Force service. In that role, she was responsible to the Air Force Chief of St…read full bio

ARMADA HOFFLER PROPERTIES INC (AHH)
Dennis H. Gartman

Mr. Gartman will serve until the Company’s 2023 annual meeting of stockholders (the “2023 Annual Meeting”) or until his successor is duly elected and qualifies. The Board affirmatively determined that Mr. Gartman is an independent director within the meaning of the New York Stock Exchange listing st…read full bio

AXOGEN INC (AXGN)
William Burke

Mr. Burke, age 54, was the Executive Vice President, Chief Financial Officer of Haemonetics Corp. (NYSE: HAE), a company that provides a suite of innovative medical technology solutions to improve the quality, effectiveness, and efficiency of care, from August 2016 to June 2022 and was responsible f…read full bio

CECO ENVIRONMENTAL CORP (CECE)
Robert E Knowling Jr

Knowling brings more than 30 years of experience in the telecommunications, technology and industrial sectors. He currently is chairman of Eagles Landing Partners and serves on the boards of Rite-Aid Corporation, Citrix Systems, and Stride. He formerly served on the boards of directors of R…read full bio

COHBAR INC (CWBR)
Stephanie Tozzo

Dr. Tozzo has served as Senior Vice President and Chief Scientific Officer of Avilar Therapeutics, Inc. since November 2021. Prior to joining Avilar Therapeutics, Dr. Tozzo served at Cellarity, Inc. (a Flagship Pioneering company) as Senior Vice President, Drug Development and Head of R&D fro…read full bio

COLUMBIA SPORTSWEAR CO (COLM)
Christiana Smith Shi

Ms. Shi is the Principal at Lovejoy Advisors, LLC, an advisory services firm focused on digitally transforming consumer and retail businesses, which she founded in 2016. Previously, she served as President, Direct-to-Consumer at Nike, Inc. from 2013 until 2016 after serving in variou…read full bio

CUMMINS INC (CMI)
Gary L Belske

Belske had a 38-year career at Ernst & Young before retiring in Dec. 2016. In his most recent role as Ernst & Young’s Deputy Managing Partner and Chief Operating Officer, he was responsible for the overall strategy and operations for the Americas, where he oversaw business i…read full bio

EQUITABLE HOLDINGS INC (EQH)
Arlene Isaacs-Lowe

Ms. Isaacs-Lowe joins the Board after having spent nearly 25 years in several key leadership positions at Moody’s Corporation. Most recently, she served as Global Head of Corporate and Social Responsibility and president of The Moody’s Foundation. Her reputation as a global business l…read full bio

ESTEE LAUDER COMPANIES INC (EL)
Angela Wei Dong

Ms. Dong, 48, joined Nike in 2005 and since then has held positions of increasing responsibility; she assumed her current role of Global Vice President and General Manager, Greater China, in 2015. Ms. Dong graduated from Tianjin University in China and received her MBA from Northwestern Universit…read full bio

EYEPOINT PHARMACEUTICALS INC (EYPT)
Karen L Zaderej

Ms. Zaderej currently serves as President, Chief Executive Officer, and Chair of the Board at AxoGen. Earlier in her career, she held positions of increasing responsibility at AxoGen, including Chief Operating Officer and Vice President of Marketing and Sales. Prior to joining Axo…read full bio

FUTUREFUEL CORP (FF)
Paul Anthony Novelly II

P.A. Novelly, 55, is Chief Executive Officer of Apex Holdings Co. and its subsidiary Apex Oil Company, Inc. (collectively, “Apex”), a privately held company based in St. Louis, Missouri, which together with its affiliates is engaged in trading, storage, marketing, and transportation…read full bio

FUTUREFUEL CORP (FF)
Ronald J Kruszewski

Ronald J. Kruszewski, 63, is Chairman of the Board and Chief Executive Officer of Stifel Financial Corp., a New York Stock Exchange-listed investment firm with multi-national operations. He joined Stifel as Chief Executive Officer in 1997 and was named Chairman in 2001. Mr. Kruszewski also is the cu…read full bio

INNOVID CORP (CTV)
Brian Hughes

Mr. Hughes, age 63, currently serves as a Director of Bentley Systems (Nasdaq: BSY), CompoSecure, Inc. (Nasdaq: CMPO) and Omnilit Acquisition Corp (Nasdaq: OLITU). Mr. Hughes was previously an audit partner, the national private markets group leader, and venture capital co-leader at KPMG LLP where h…read full bio

IONQ INC (IONQ)
Kathryn K Chou

At Nutanix, Chou oversees a team responsible for the development, security and deployment of SaaS applications, systems and data assets across the entire Nutanix customer lifecycle. Chou joined Nutanix in January 2022 and previously served as the SVP of Worldwide Sales Strategy and Operations at …read full bio

LOCKHEED MARTIN CORP (LMT)
Vincent R Stewart

Mr. Stewart will serve on the Company’s Classified Business and Security Committee. The Board of Directors determined that Mr. Stewart is an “independent director” in accordance with the New York Stock Exchange listing standards, the rules and regulations of the Securities and Exchange Commission (“…read full bio

LORDSTOWN MOTORS CORP (RIDE)
Edward T Hightower

Mr. Hightower, age 57, has served as the President of the Company since November 2021. Prior to joining the Company, Mr. Hightower served as the Managing director of Motoring Ventures LLC, a global investment and consulting firm for automo tive and manufacturing businesses that Mr. Hightower founded…read full bio

MALACCA STRAITS ACQUISITION CO LTD (MLAC)
Eugene Ty Tan

Mr. Eugene TY Tan, age 59, has been the Co-Chief Executive Officer of Oriental Patron Asia Limited, a financial services company, since April 2019. From January 2017 to March 2019, Mr. Tan was the Co-Chief Executive of the Institutional and Client Group at Shanxi Securities International, a compa…read full bio

MALACCA STRAITS ACQUISITION CO LTD (MLAC)
Ming Shu Leung

Mr. Vince Ming Shu Leung, age 46, has been the group Chief Financial Officer, a member of strategy committee of 58 Group, a leading classified information internet platform in China and managing partner of 58 Industry Fund, an investment fund under 58.com Inc. , where he is mainly responsible for…read full bio

MATTERPORT INC (MTTR)
Susan Repo

Ms. Repo is currently the Chief Financial Officer at ICEYE, a New Space earth observation technology company enabling access to real-time imagery from space to empower better decision making in governmental and commercial industries from its own constellation of s…read full bio

PHILLIPS 66 (PSX)
Mark E Lashier

Mr. Lashier, age 60, currently serves as the President and Chief Operating Officer of the Company, a position he has held since April 2021. Prior to joining the Company, Mr. Lashier served as President and CEO of Chevron Phillips Chemical Company LLC from 2017 to 2021. In his role as President and C…read full bio

PLAYAGS INC (AGS)
David-Jacques Farahi

 Mr. Farahi currently serves as Executive Chairman of Quick Custom Intelligence, a SaaS business which provides a suite of advanced business intelligence and operational tools to the casino and hospitality industries across 50 countries. A role he has held since May of 2022. Previously he se…read full bio

PROCESSA PHARMACEUTICALS INC (PCSA)
Khoso Baluch

Mr. Baluch has over 36 years of experience across global geographies in the biopharmaceutical industry. Since 2012, he has served as an independent director of Poxel S.A., a French publicly traded biotech company, and chairs its compensation committee. He has also served as the Chairman of the Bo…read full bio

PROKIDNEY CORP (PROK)
William F Doyle

Mr. Doyle has been a member of Legacy GP Board and ProKidney KY-Board since January 2022. Mr. Doyle is a recognized expert in medical devices commercialization with over 20 years’ experience in the advanced technology and healthcare industries as an entrepreneur, executive, management consu…read full bio

PROKIDNEY CORP (PROK)
Alan Lotvin

Dr. Lotvin has been a member of Legacy GP Board and ProKidney KY-Board since January 2022. Dr. Lotvin has served as the Executive Vice President at CVS Health Corp (NYSE: CVS), a leading health solutions company, since November 2012, and the President of CVS Carem…read full bio

PROKIDNEY CORP (PROK)
Brian Jg Pereira

Dr. Pereira has been a member of Legacy GP Board and ProKidney KY-Board since January 2022. Dr. Pereira has served as the Chief Executive Officer at Visterra Inc., a clinical-stage biotechnology company committed to developing innovative antibody-based therapies f…read full bio

PROKIDNEY CORP (PROK)
John Maraganore

Dr. Maraganore has been a member of Legacy GP Board and ProKidney KY-Board since May 2022. Dr. Maraganore is the owner of JMM Consulting, LLC and is a venture partner at ARCH Venture Partners, a venture advisor at Atlas Venture, an executive advisor at RTW Investments and a senior advisor at Blac…read full bio

PROKIDNEY CORP (PROK)
Pablo G Legorreta

Mr. Legorreta has served as a director of the Legacy GP Board since August 2021, as a director of the ProKidney-KY Board since January 2019, and as a manager of ProKidney Bermuda since January 2019. Mr. Legorreta is the founder and has served as Chief Executive Officer…read full bio

PROKIDNEY CORP (PROK)
Santos Jose Ignacio Jimenez

Mr. Jiménez Santos has served as the Chief Executive Officer of Afore Inbursa since August 2015 and the Chief Investment Officer of Grupo Financiero Inbursa, SAB de C.V., a public company registered on the Mexican Stock Exchange, since August 2013. Mr. Jiménez Santos served on …read full bio

PROKIDNEY CORP (PROK)
Timothy Bertram

Dr. Bertram has served as Chief Executive Officer of ProKidney-US and ProKidney-KY since January 2019 and has served as a director of Legacy GP Board and a member of the board of directors of ProKidney-KY (the “ProKidney-KY Board”) since January 2022. Since February 2017, Dr….read full bio

REATA PHARMACEUTICALS INC (RETA)
Steven Ryder

Dr. Ryder brings over 35 years of experience in the biopharmaceutical industry, serving in various development roles globally. Most recently, Dr. Ryder has served as the Chief Medical Officer of Rallybio Corporation since January 2019. From July 2013 through December 2018, Dr. Ryder served as Chi…read full bio

REVOLUTION MEDICINES INC (RVMD)
Lorence H Kim

Dr. Kim will serve as a Class I director, with an initial term expiring at the Company’s 2024 annual meeting of stockholders, and will serve on the Board’s Audit Committee. Dr. Kim was appointed to fill the vacancy on the Board created by the resignation of Neil Exter, who resigned from the Board, e…read full bio

SAB BIOTHERAPEUTICS INC (SABS)
Scott Giberson

Mr. Giberson is President of AMI Expeditionary Healthcare and has served in that position since 2021. After nearly 27 years of service, Mr. Giberson retired as a two-star Rear Admiral. From 2010 to 2021, Mr. Giberson was Assistant U.S. Surgeon General for 11 years, and during two of those y…read full bio

UPHEALTH INC (UPH)
Samuel Meckey

Meckey brings extensive experience spearheading growth strategies and operational excellence in healthcare to his role as CEO. Most recently, he served as executive vice president and head of healthcare at EXLService Holdings, Inc., where he integrated five businesses …read full bio

VULCAN MATERIALS CO (VMC)
Lydia H Kennard

Ms. Kennard currently serves as President and CEO of KDG Construction Consulting, a leading provider of construction management services for public infrastructure projects, and Quality Engineering Solutions, a full-service pavement engineering and construction inspection firm. Ms. Kennard is also a …read full bio

Director Exits

ABSCI CORP (ABSI)
Eli Casdin ( 1.0 yrs; -86.1% TSR)

ANNALY CAPITAL MANAGEMENT INC (NLY)
Katherine Beirne Fallon ( 4.5 yrs; -3.3% TSR)
Committees: Corporate Responsibility, Nominating (and Governance)

APA CORP (APA)
John E Lowe ( 9.0 yrs; -12.5% TSR)

APA CORP (APA)
John E Lowe ( 9.0 yrs; 4.1% TSR)

BED BATH & BEYOND INC (BBBY)
Mary A Winston ( 3.2 yrs; -27.2% TSR)
Committees: Nominating (and Governance)

BED BATH & BEYOND INC (BBBY)
Virginia P Ruesterholz ( 5.1 yrs; -28.0% TSR)
Committees: Audit, Nominating (and Governance)

BED BATH & BEYOND INC (BBBY)
John E Fleming ( 3.2 yrs; -27.2% TSR)
Committees: Compensation, people, culture and compensation

BOX INC (BOX)
Peter Leav ( 3.2 yrs; 8.1% TSR)
Committees: Compensation

CVENT HOLDING CORP (CVT)
Julie Iskow ( .2 yrs; )

ELASTIC NV (ESTC)
Michelangelo Volpi ( 9.5 yrs; 2.6% TSR)
Committees: Audit, Compensation

GAP INC (GPS)
Sonia Syngal ( 2.3 yrs; -23.0% TSR)

INNOVID CORP (CTV)
Steven Cakebread ( .6 yrs; -91.2% TSR)

KRAFT HEINZ CO (KHC)
Joao M Castro-Neves ( 3.1 yrs; 11.4% TSR)
Committees: Compensation, Nominating (and Governance), Operations and Strategy

PLAYTIKA HOLDING CORP (PLTK)
Wei Liu ( 2.1 yrs; -42.6% TSR)

RIGETTI COMPUTING INC (RGTI)
Peter Pace ( .3 yrs; )

RUBIUS THERAPEUTICS INC (RUBY)
Anne Prener ( 2.6 yrs; -57.7% TSR)
Committees: Nominating (and Governance), Science and Technology

SONIC FOUNDRY INC (SOFO)
Taha Jangda ( 1.1 yrs; -54.6% TSR)
Committees: Audit

SPRINGWORKS THERAPEUTICS INC (SWTX)
Stephen P Squinto ( 4.9 yrs; 2.3% TSR)
Committees: Compensation, Nominating (and Governance), Research and Development

VMWARE INC (VMW)
Donald J Carty ( 6.6 yrs; 16.7% TSR)
Committees: Audit

<a href="https://www.boardroomalpha.com/author/draps/" target="_self">David Drapkin</a>

David Drapkin

Spent his formative years at Goldman Sachs and now embraces the start-up life in NYC. A long suffering Oakland (Las Vegas) Raiders fan and graduate of the Wharton School at the University of Pennsylvania. Semi-professional go-kart racer waiting for his shot.

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