Federal Signal Promotes COO to CEO in January
Safety systems and specialty vehicle manufacturer Federal Signal announced its new president and CEO, who takes over on New Year’s. She’s Jennifer Sherman, presently the COO, who’s been at the company for more than two decades. Retiring from the position after a five-year run is Dennis Martin, who is sticking around, though, as chairman. Current chair James Goodwin will step aside but remain on the board. Sherman, initially an attorney, has held a variety of top executive posts at Federal Signal.
CFO Retires at Marriott, Which Finds a New One
As the year changes to 2016, hotelier Marriott International will be losing its EVP and CFO, Carl Berquist, who has been on the job since 2009 and with the company for twice that long. He’ll stay on after his retirement for a few months as a special advisor. Succeeding him will be Leeny Oberg, who is currently the CFO at Marriott subsidiary Ritz-Carlton. She has held that slot since 2013 but has worked for Marriott for a decade and a half. Berquist’s leadership is widely associated with an impressive period of growth and acquisition along with strategic spinoffs.
Lantronix Fills Its CEO Vacancy
Not waiting around for the new year, computer networking equipment maker Lantronix put into place last week a new president and CEO. Jeffrey Benck, most recently of server and storage product manufacturer Emulex, has had a seven-month hiatus since that company was acquired by Avago Technologies in the spring. A month ago Lantronix’s CEO, Kurt Busch, resigned on short notice for personal reasons after four years in leadership. CFO Jeremy Whitaker then took on the position on an interim basis. Before his two years at Emulex, Benck worked at QLogic and IBM.
Look for more Executives on the Move next week!