Factbox: From Boeing to Intel: CEO exits at major global companies in 2024
02/12/2024 16:46
(Rewrites to add CEO departures throughout)
Dec 2 (Reuters) - Several global companies, including
aircraft manufacturer Boeing and struggling chipmaker Intel,
have witnessed the departure of their CEO's this year, with a
handful of firms opting for seasoned executives to fill these
leadership voids.
The following is a list of top-management shake ups announced
at major companies this year:
INTEL INTC.O - PAL GELSINGER
Intel CEO Pat Gelsinger stepped down from his role on Dec. 1,
less than four years after taking the helm and before completing
a turnaround plan to restore Intel's lead in making the fastest
and smallest computer chips.
The company appointed CFO David Zinsner and senior executive
Michelle Johnston Holthaus as interim co-CEOs.
CVS HEALTH CVS.N - KAREN LYNCH
CVS Health replaced CEO Karen Lynch with company veteran David
Joyner after investors, including activist Glenview Capital,
pressured the company to improve its stagnant share price.
Lynch, a former exec at health insurance unit Aetna, had taken
over the top role in 2021.
NIKE NKE.N - JOHN DONAHOE
Nike appointed former senior executive Elliott Hill as CEO, to
replace John Donahoe, amid efforts to revive sales and battle
tough competition. Donahoe had taken the top job in 2020 and had
been tasked with bolstering Nike's online presence and driving
sales through direct-to-consumer channels.
NESTLE NESN.S - MARK SCHNEIDER
Nestle in August replaced CEO Mark Schneider, who led the
company for eight years, with veteran Laurent Freixe, at a time
when it is struggling to grow sales. Freixe first joined in
France in 1986, going on to lead Nestle's European business
during the 2008 financial crisis.
STARBUCKS SBUX.O - LAXMAN NARASIMHAN
The coffee giant replaced Laxman Narasimhan with Chipotle
Mexican Grill CMG.N head Brian Niccol as its CEO in August.
Under Narasimhan's tenure, Starbucks' stock faltered and lost
nearly one-quarter of its value.
Niccol is known for reviving the burrito chain with sales at
Chipotle doubling to about $10 billion in fiscal 2023.
BOEING BA.N - DAVE CALHOUN
Aerospace industry veteran Kelly Ortberg was named Boeing's new
CEO in July, succeeding Dave Calhoun to turn the struggling
planemaker around. Calhoun, 66, was brought in as CEO following
a pair of crashes in 2018 and 2019 that killed nearly 350
people.
Ortberg has more than 30 years of experience in the
aerospace industry and had steered Rockwell Collins' merger with
United Technologies and RTX until his retirement in 2021.
HERTZ HTZ.O - STEPHEN SCHERR
Gil West was appointed by Hertz as its CEO in April, succeeding
Stephen Scherr as the rental car firm battles higher repair
costs and weak demand. Scherr served in the top role for two
years.
West has previously served as chief operating officer of
Delta Airlines DAL.N and GM's GM.N Cruise unit.
(Reporting by Boleslaw Lasocki and Victor Goury-Laffont in
Gdansk, Ananya Mariam Rajesh and Bhanvi Satija in Bengaluru;
Editing by Milla Nissi, Jane Merriman, Arun Koyyur and Anil
D'Silva)
((boleslaw.lasocki@thomsonreuters.com; +48 58 769 66 00;))