Here are just a few of the interesting executive changes making headlines over this past week:
New Tribune Publishing Chairman Takes CEO Out of Circulation
Tribune Publishing, owner of the Los Angeles Times, Chicago Tribune, and other publications, appointed Justin Dearborn as CEO this month. Dearborn succeeded Jack Griffin, who was unexpectedly ousted just weeks after securing $44 million in funding for strategic initiatives, including newspaper acquisitions. Sources report the man behind the funding, investor Michael Ferro, pushed Griffin out almost immediately after that investment made him Tribune Publishing’s newest chairman and largest shareholder in early February. Ferro succeeded chairman Eddy Hartenstein, who remained on the board. Incoming CEO Dearborn, a longtime associate of Ferro, most recently served as CEO of tech firm Merge Healthcare, which Ferro held an ownership stake in prior to its 2015 acquisition by IBM.
Prada CFO Left the Catwalk
Luxury fashion designer Prada lost longtime CFO Donatello Galli, who reportedly resigned for personal reasons. Galli, who had been Prada’s finance chief since 2004, was succeeded by Alessandra Cozzani, the designer’s investor relations director. Galli’s resignation was announced a week after the company released its latest financial report. Prada’s profits have been flat since 2014, due in large part to a strong US dollar and falling consumer demand in economically stagnate China and countries in the Asia/Pacific region.
Cooper Tire Rotates CEO
Cooper Tire & Rubber announced this month its chairman, president, and CEO Roy Armes is retiring in August. Armes, who joined the tire manufacturer as CEO in 2007, will be succeeded by current Cooper Tire COO Bradley Hughes. Hughes was named president and CEO, while board member Thomas Capo will take over as chairman. An auto industry veteran, Hughes joined Cooper Tire in 2009 after 23 years with Ford Motor. In addition to COO, he’s served in a handful of C-level executive roles during his time at Cooper, including VP and CFO, as well as president of international operations.
Look for more Executives on the Move next week!