Here are just a few of the interesting executive changes making headlines over this past week:
Larson Is Feeling the Love
Offshore drilling services firm Oceaneering International announced on Valentine’s Day that Roderick Larson will be its new CEO. Larson, whose current title is president, will replace Kevin McEvoy in May. McEvoy will continue to sit on the board until May 2019. Larson began at Oceaneering in the role of SVP and COO in 2012 and was promoted to president in 2015. Before 2012 Larson worked at Baker Hughes, another Houston-based company that manufactures oil and gas field equipment, for 20 years.
Game On for Tjon
Gambling and lottery services company Scientific Games hired Karin-Joyce Tjon as its new president and COO. Tjon’s background is heavy in finance, having been the CFO for both Epiq Systems and Hawker Beechcraft Corporation. Her duties encompass gaming and lottery operations, organizational strategy, and business development. Prior to her CFO roles, Tjon worked at Alvarez & Marsal, a consulting services firm that specializes in restructuring, mergers and acquisition, crisis management, and turnarounds of underperforming companies.
Shiga Bows Out at Toshiba
Japanese electronics manufacturer Toshiba has been rocked by yet another shamefaced resignation. Chairman Shigenori Shiga is resigning as chairman and relinquishing his seat on the board. After announcing that its official financial results will be delayed by a month due to audit issues, Toshiba’s stock plummeted by 8%. The company projects a $6.3 billion loss for its nuclear energy division, a deficit that will need to be fixed by selling Toshiba’s profitable computer chip assets to prevent the entire company from going underwater. Former Toshiba CEO Hisao Tanaka resigned in mid-2015 after a well-publicized accounting scandal. Almost a year later his successor, Masashi Muromachi, resigned after Toshiba’s financials were corrected to reflect the true value of its nuclear energy subsidiary, Westinghouse Electric.
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.