Here are just a few of the interesting executive changes making headlines over this past week:
Kip Tindell’s Enthusiasm for Female Executives Can’t Be Contained
Retailer of organization paraphernalia The Container Store is undergoing a management reorganization. CEO Kip Tindell is giving his position to Melissa Reiff beginning July 1. Reiff is currently the president and COO of the company. She has been instrumental in creating a corporate culture that’s made the business a standout on FORTUNE’s list of best places to work. With Reiff’s promotion, Sharon Tindell will become president and retain her title of chief merchandising officer. Sharon is Kip Tindell’s wife and has been a vital presence since the company’s founding. Along with Reiff and Tindell’s promotions, CFO Jodi Taylor was also given the title of chief administrative officer, Melissa Collins promoted to chief marketing officer, and Eva Gordon, Audrey Robertson, and John Thrailkill promoted to EVP. Mr. Tindell has famously championed female leadership and even been quoted as saying, “Women make better executives than men.”
Ralph Nicoletti Stops Breakfasting at Tiffany’s
Household name and exclusive fine jewelry purveyor Tiffany & Co. is losing its CFO, Ralph Nicoletti, effective May 20th. Nicoletti has been Tiffany’s CFO for just over two years since the retirement of longtime executive James Fernandez. He is leaving to join Newell Brands, the new company formed by the merger of Newell Rubbermaid and Jardon Corp. Nicoletti is replacing John Stipancich, who resigned to follow other pursuits.
Is This the New Most Powerful Man in Oil?
State-owned petroleum energy company Saudi Aramco lost its oil minister and the de facto leader of OPEC, 80-year-old Ali al-Naimi, when Deputy Crown Prince Mohammed bin Salman terminated him. Al-Naimi’s firing is reportedly only part of a plan to shake up the Saudi economy by diversifying its interests among other industries besides oil and reducing government control. However, change seems unlikely to happen swiftly. The new oil minister is Khalid al-Falih, the current chairman of Saudi Aramco and its former CEO. Al-Falih has said that Saudi Arabia is prepared to hold out with higher oil production for a “long, long time” in an effort to gain further market share. The biggest difference likely to be seen with the leadership change is a move to greater transparency in preparation for its upcoming partial IPO.
Look for more Executives on the Move next week!