Here are just a few of the interesting executive changes making headlines over this past week:
Spin the Bottle at O-I
The world’s largest glass bottle manufacturer O-I gets a new CEO with Andres Lopez, beginning January 1, 2016. The company’s current chairman and CEO, Al Stroucken, will stay on in the role of executive chairman until the next annual shareholder meeting in mid-2016. Lopez is being promoted from COO, where he oversaw business operations for all O-I locations around the world. He has been with the company since 1986.
CIT Loses Thain but Gains an Alemany
John Thain is retiring from commercial lender CIT. He is probably best known for leading Merrill Lynch before its sale to Bank of America during the major recession of 2008. Since jumping on board with CIT in February 2010, a series of changes involving asset sales and strategic purchases like OneWest Bank has reversed CIT’s fortunes following its 2009 bankruptcy filing. Thain’s successor is experienced lending executive Ellen Alemany.
CFO Harvey Leaves Powerful Mark at PG&E
Pacific Coast-based energy provider PG&E Corp is losing its CFO Kent Harvey after 33 years with the business. Harvey was employed in a variety of jobs since his initial hiring in 1982 and has been the company’s CFO since August 2009. PG&E chairman, CEO, and president Tony Earley stated that the company has a strong succession plan in place and that Earley will not be leaving until a replacement is hired and the transition effectively executed in early to mid-2016.
Simons Says Adieu to Dior Fashion House
Iconic couture fashion brand Christian Dior is losing its second major designer in the last five years. Raf Simons replaced former creative director John Galliano after Galliano’s termination in 2011 for publicly making anti-Semitic comments. Simons cited his decision to leave as being wholly based on a wish to focus on his personal life and outside interests. He also owns his own namesake brand of menswear based in Belgium. The executives of both Dior house and LVMH have expressed their appreciation to Simons for his exceptional contributions. His replacement has not yet been named.