Amec Foster Wheeler Turns Out Brikho
Engineering services firm Amec Foster Wheeler is losing its CEO of nine years, Samir Brikho. CFO Ian McHoul will become interim CEO while a search for Brikho’s replacement is made. Brikho was the CEO of Amec when it made its $3.2 billion purchase of Foster Wheeler last year. Amec Foster Wheeler provides services for the oil and gas industries and, since the slump in oil prices, has seen its market value decline considerably and been forced to reduce dividends to stockholders by half. Brikho’s departure is seen as a reaction to the unfortunate timing of his deal with Foster Wheeler.
Rorsted Runs adidas
Athletic wear giant adidas announced its hiring of a new CEO. Kasper Rorsted is currently the CEO of Henkel, a consumer goods manufacturer. He is scheduled to take control this October. On the day that the change was announced, Henkel lost $2 billion in market value while adidas stock saw a gain of $1 billion. adidas has lost ground and currently holds the #3 position in the American sporting goods market, behind Nike and Under Armour. Both its competitors have top executives with extensive sports industry experience. Rorsted’s track record is strictly with consumer packaged goods.
Schneider Locks Down CEO Title
Personal credit security firm LifeLock announced a succession plan. On March 1, Todd Davis will step down as the company’s CEO and begin a new journey as vice chairman of the board. President Hillary Schneider will be promoted to CEO, and the current lead director, Roy Guthrie, will become chairman. Todd Davis has led LifeLock from its inception as a startup until now. Schneider has been president of LifeLock since 2012. Prior to joining the company, she worked for Yahoo!, Knight Ridder Digital, Red Herring Communications, Times Mirror Interactive, and as general manager of the Baltimore Sun.
Five Twitter Execs Leave the Nest
Twitter CEO Jack Dorsey tweeted on January 24 that four executives are leaving the web-based media company. Kate Jacobs Stanton, media head; Kevin Weil, product head; Alex Roetter, engineering division head; and human resources executive Brian “Skip” Schipper are all exiting immediately. Contrary to what Dorsey dubbed inaccurate press rumors, he praised all four of the departing executives and said he was sad to see them go. COO Adam Bain will take on Schipper’s HR duties, and CTO Adam Messinger will now head Roetter’s engineering team. Also on the evening of January 24, the head of Twitter’s video streaming service Vine, Jason Toff, tweeted that he would be resigning to work on virtual reality projects at Google.
Look for more Executives On The Move next week!