Here are just a few of the interesting executive changes making headlines over this past week:
Another New Beginning for Lands’ End
Apparel and housewares manufacturer and retailer Lands’ End is gaining a new CEO in Jerome Griffith. This is the company’s second top exec in less than two years, and once again, Lands’ End has selected a leader with a background in the luxury and designer clothing industry. Griffith comes from luggage company Tumi Holdings following its sale to Samsonite. He also worked executive positions with Esprit, Tommy Hilfiger, and Gap. Lands’ End’s attempted transition to higher-end offerings has alienated its core customer base, and sales are lagging. The announcement of Griffith’s appointment as CEO sent shares up by nearly 4%.
Messinger Flies the Coop at Twitter
Social media messaging app Twitter is losing its CTO, Adam Messinger. On December 20 he tweeted his intention to take some time off after five years of service. Messinger’s resignation follows COO Adam Bain’s departure and a round of layoffs in October that saw the loss of 9% of Twitter’s total workforce and the shutdown of video app Vine. In the past year Twitter was challenged with growing its user base while developing new ideas for increasing revenue. The pursuit of a possible sale to larger tech companies garnered no bidders.
Hershey Attempts to Buck Sales Trends with New CEO
Big food confectionery Hershey announced its intention to promote EVP and COO Michele Buck to the CEO spot on March 1. Buck succeeds John Bilbrey, who previously stated his plan to retire in 2017. Buck was employed at Hershey for the past 11 years and has overseen the acquisition of upstart competitors like barkThins and Krave beef jerky. Hershey sales dropped slightly in recent years, a trend among large American food and beverage makers. It was also a recently failed takeover target for snack foods behemoth Mondelez. When Buck takes the reins in March, she will become one of only 27 women who lead FORTUNE 500 companies.
Look for more Executives on the Move next week!
Linet Krouse is a SWAT Editor for Hoovers. Previously, she performed quality assurance for Dun & Bradstreet’s global customer operations. Before joining D&B, Linet’s work experience includes customer service, property management, and benefits administration.