financetom
Business
financetom
/
Business
/
Factbox-From Boeing to Intel: CEO exits at major global companies in 2024
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Factbox-From Boeing to Intel: CEO exits at major global companies in 2024
Dec 2, 2024 9:21 AM

(Reuters) - Several global companies, including aircraft manufacturer Boeing ( BA ) and struggling chipmaker Intel ( INTC ), 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 ) - PAL GELSINGER

Intel ( INTC ) 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 ( INTC ) 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 ) - KAREN LYNCH

CVS Health ( CVS ) 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 ) - JOHN DONAHOE

Nike ( NKE ) 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 ( NKE ) online presence and driving sales through direct-to-consumer channels.

NESTLE - 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 ) - LAXMAN NARASIMHAN

The coffee giant replaced Laxman Narasimhan with Chipotle Mexican Grill ( CMG ) head Brian Niccol as its CEO in August. Under Narasimhan's tenure, Starbucks' ( SBUX ) 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 ) - DAVE CALHOUN

Aerospace industry veteran Kelly Ortberg was named Boeing's ( BA ) 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 - 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 and GM's 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)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved