Big companies that brought back industry veterans to helm
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Oct 22 (Reuters) -Major companies, including CVS Health and Nike, are overhauling top leadership and hiring back company or industry veterans as CEOs, hoping to quell growing investor concerns about company performance.
Here is a list of some executives who were called back to top roles in the recent past:
CVS HEALTH CVS.N - DAVID JOYNER
CVS Health replaced CEO Karen Lynch with David Joyner after investors, including activist Glenview Capital, pressured the company to improve its stagnant share price. Joyner was a CVS veteran who retired before returning to the company last year.
NIKE NKE.N - ELLIOTT HILL
Elliott Hill is back at the top of Nike, which is shaking up its leadership to revive sales and battle tough competition. Hill, who succeeded John Donahoe, was Nike's president, consumer marketplace, before retiring in 2020.
NESTLE NESN.S - LAURENT FREIXE
Nestle in August replaced CEO Mark Schneider with company veteran Laurent Freixe, as it struggles to grow sales. Freixe first joined in France in 1986, going on to lead Nestle's European business during the 2008 financial crisis. He headed the Americas unit and from 2022 also its Latin America business.
STARBUCKS SBUX.O - BRIAN NICCOL
The coffee giant named Chipotle Mexican Grill CMG.N head Brian Niccol as its CEO in August. He replaced Laxman Narasimhan under whose tenure the 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 - KELLY ORTBERG
Kelly Ortberg was named Boeing's new CEO in July succeeding Dave Calhoun to turn the struggling planemaker around. 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 - GIL WEST
Gil West was appointed by Hertz as its CEO in April succeeding Stephen Scherr as the rental car company battles higher repair costs and weak demand. West was the chief operating officer of Delta Airlines DAL.N and GM's GM.N Cruise unit.
OPENAI - SAM ALTMAN
Sam Altman reached an agreement with OpenAI to return as CEO in November 2023, after a brief tumultuous period following his ouster by the company's board, which had given scant explanation for firing him.
UBS UBSG.S - SERGIO ERMOTTI
Sergio Ermotti returned as CEO of the Swiss bank in 2023 amid challenges related to UBS's takeover of peer Credit Suisse. He first took the helm of the lender in 2011 and stayed in the top job until 2020 when he was replaced by Ralph Hamers.
DISNEY DIS.N - ROBERT IGER
Robert Iger first became the CEO of the U.S. entertainment group in 2005. He left the position in 2020, but Disney's board of directors asked him to return in 2022, when the company faced operating losses at its streaming unit.
STARBUCKS SBUX.O - HOWARD SCHULTZ
Howard Schultz served as Starbucks CEO on three occasions. The former NBA franchise owner launched the company's coffeehouse model in 1980s before stepping down in 2000, only to return in 2008 for a nine-year stint. He served a final term as interim CEO from 2022 until last March.
Reporting by Boleslaw Lasocki and Victor Goury-Laffont in Gdansk, and Ananya Mariam Rajesh in Bengaluru; Editing by Milla Nissi, Jane Merriman and Arun Koyyur
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Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
