Here are just a few of the interesting executive changes making headlines over this past week:
Smucker’s to Circulate Some Smuckers
Food purveyor The J. M. Smucker Company, known mainly for its jellies and other spreads, announced some changes among its top officers, mostly involving the surname Smucker, effective May 1st. Current chairman (since 1987) and former CEO Timothy Smucker will, in effect, retire by becoming chairman emeritus. Younger brother Richard Smucker, also a fourth-generation scion of the business’ founding family, has been CEO since 2001 but will step down to become chairman. In his place will be put Richard Smucker, Timothy’s son, who is presently the head of the food and beverage division in the US. Also, CFO Mark Belgya and Steven Oakland, another division head, will add vice chairman to their titles and responsibilities.
Another VW Resignation, This Time in the US
The roiling travails of German automaker VW have finally reached the top rank of its US branch, Volkswagen Group of America. An announcement came that its president and CEO, Michael Horn, in position just over two years, was resigning immediately after a quarter-century career with the carmaker. The new interim leader is Hinrich Woebcken, only recently named the chair of the US subsidiary and head of North American operations for Volkswagen AG. The resignation might be seen as ultimately inevitable since the scandal that broke last year originally involved the violation of US government emissions standards.
Gilead Sciences Elevates and Replaces CEO
Biopharmaceutical firm Gilead Sciences has moved its CEO to the chairman slot and promoted its president and COO to be chief executive. Though the announcement was made in late January, it was this week that the changes took effect. John Martin had been CEO for 20 years and held the chairmanship as well since 2008; now he is chairman only. John Milligan, the new CEO, had been in the #2 executive spot since 2008 as well.
Look for more Executives on the Move next week!