Executive Transition Week Wrap-up

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06/08/2018 | 11:44 pm
Howard Schultz


By Nishant Mohan





Here are some notable executive announcements from companies within the last week:





June 4



Howard Schultz Steps Down at Starbucks



Howard Schultz is stepping down as executive chairman of Starbucks on June 26. Mr. Schultz joined the company in 1982 and left in 1986. The next year he bought the company's six stores and its roasting facility and grew Starbucks into the ubiquitous brand it is today. In April 2017, Mr. Schultz transitioned from chief executive to executive chairman.



Lowe's CFO Retires



Lowe's Chief Financial Officer Marshall A. Croom is set to retire once the company appoints a successor. Mr. Croom has been with the company for 21 years.



Thomson Reuters Names Co-Chief Operating Officers



Thomson Reuters named Brian Peccarelli and Neil Masterson co-chief operating officers effective July 1. Mr. Peccarelli will oversee customer-facing operations including sales, while Mr. Masterson will manage commercial and technology operations.



June 5



Koch Industries' David Koch Retires



David Koch, 78, is retiring from his vice president post in Koch Industries, as well as all political organizations, due to his deteriorating health. The Koch family has long been contributors to Republican politics, conservative organizations and philanthropic groups.



Bed Bath & Beyond Names New Executives



Bed Bath & Beyond Chief Operating Officer Eugene Castagna has added president to his title. Chief Financial Officer Susan Lattman has been promoted to chief administrative officer, while Robyn D'Elia, a vice president of finance, was promoted to CFO.



June 6



Astro Malaysia CEO to Step Down



Rohana Rozhan, group chief executive of TV company Astro Malaysia Holdings, announced she will resign at the end of January. Henry Tan, the company's chief content and consumer officer, is set to succeed her.



Athenahealth CEO Quits



Jonathan Bush stepped down as president and CEO of health-software company Athenahealth as the company has faced pressure from an activist investor. In announcing Mr. Bush's departure, Athenahealth also said it was exploring strategic alternatives. As of Friday, the company hadn't yet announced an interim leader.



CVS Health Names New CFO



CVS announced that Aetna Chief Financial Officer Shawn Guertin would serve as CFO of the combined company. He would replace CVS CFO David Denton. The deal is expected to close in the latter half of this year.



June 7



BorgWarner Names New CEO



BorgWarner named Chief Operating Officer Frederic Lissalde to replace James R. Verrier as its chief executive. Mr. Lissalde has been with the auto supplier in various positions for 19 years.



June 8



BT Group CEO to Step Down



Gavin Patterson, CEO of BT Group, said he would step down later this year when the U.K. telecommunications company names a replacement. Mr. Patterson has been with BT for more than 14 years and has served as its CEO for nearly five. BT recently launched a restructuring plan that includes cutting 13,000 jobs.



Verizon Names New CEO



Verizon Communications named Chief Technology Officer Hans Vestberg to replace Lowell McAdam as CEO on Aug. 1. Mr. Vestberg has been with the company since last year. Mr. McAdam was with the company for seven years.





Write to Nishant Mohan at [email protected]





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