F5 Recycles Its Leadership for Personal Reasons
Application delivery networking company F5 Networks has lost its president and CEO, Manny Rivelo, after only five months. Rivelo resigned for what has been termed “personal conduct” reasons unrelated to company operations or finances, effective immediately. Chairman John McAdam was appointed president and CEO to fill the gap. McAdam is replacing his successor after retiring in July 2015. He will resign his chairman duties to focus his energy on leading the company. Current lead director Alan Higginson will replace McAdam as chairman. Following the announcement of McAdam’s return, F5 Networks saw its stock rise in after-hours trading.
Becker Starts at Tuesday Morning
Discount retailer Tuesday Morning announced that it has appointed Steven Becker as its new CEO. Becker was the company’s chairman since 2012. Becker will remain on the board, but chairman duties will be assumed by former lead director Terry Burman. He has also served on the board for Hot Topic and was formerly a partner and co-founder of Becker Drapkin, a successful value investment fund with significant assets in the retail industry. Burman was the CEO of retail jewelry giant Signet until just four years ago.
Barnes & Noble Books Its Head of IT
Bookseller Barnes & Noble has a new CIO. William Wood joins the company from EZCORP, where he was also CIO and won an award as the 2015 Austin IT Executive of the Year. Prior to EZCORP, Wood worked upper-management IT jobs for retailers Bass Pro Shops, Brookstone, and Dollar General. He is a decade-long Army veteran with an MBA from Vanderbilt University’s Owen Graduate School of Management. Wood and his family will be relocating to New York City from Austin, Texas, to begin his new career adventure.
Jeff Williams Climbs Up the Apple Tree
Apple announced that Jeff Williams has been promoted to COO. Williams has been with the technology giant since 1998. He has overseen the company’s service and support and supply chains and was an integral part of the iPhone and Apple Watch product launches. He is the first COO to occupy that spot since Tim Cook’s promotion to CEO following Steve Jobs’ death in 2011 and is often called “Tim Cook’s Tim Cook.” The move puts him on par with CFO Luca Maestri and chief design officer Jony Ive, reporting directly to Cook, and it formalizes a role Williams has been playing in the company for years.
Look for more Executives on the Move next week!