Executive Moves You Should Know About This Week (January 14, 2024)

Meta

As President-elect Donald Trump’s sworn-in day approaches, Meta swaps out previous leader of the Liberal Democrats and Deputy Prime Minister of the UK, Nick Clegg, to adjust to the political climate ahead. The President of Global Affairs makes his exit known via X, formerly Twitter, and praises his successor, Joel Kaplan, an outspoken Republican executive.

Ulta Beauty

Following Dave Kimbell’s retirement after his 11-year tenure at Ulta Beauty, the cosmetics, fragrance, skincare, and haircare behemoth appoints Steelman as the new CEO. Previously the President and COO, Steelman marks the second consecutive internal hire for the coveted position. The longtime beauty exec laces up her boots to tackle the increasing competition and the slowing of sales, largely due to the Sephora - Kohl’s partnership.

Panera Brands

Panera Brands CEO, José Alberto Dueñas, steps down after a brief 22 months. The parent company of fast-casual concepts Panera Bread, Caribou Coffee, and Einstein Bros. selects current CFO, Carbone, as interim CEO while the search for a permanent replacement is underway.

F1

F1 owners, Liberty Media, are keeping things in the family as they hire Derek Chang as the new CEO following Greg Maffei's exit last year. Chang has been a board member of Liberty Media since 2021 and previously served as the CEO of NBA China. Currently being investigated by the European Commission after the public takeover of MotoGP’s parent company, Dorna, Chang has a steep hill to climb.

Shutterstock

With Shutterstock and Getty Images' definite merger on the horizon, the global creative platform hires Matt Furlong as the new Chief of Marketplace Officer effective Monday, January 13th. Matt’s sudden firing as CEO of Gamestop is long forgotten, as he will now focus on Shutterstock’s customer experience and improve growth through e-commerce solutions.

GoodRx

Previous RxBenefits CEO, Wendy Barnes, trades in the pharmacy benefits optimizer for GoodRx, the leading prescription savings platform. With more than 30 years in the pharmacy and medical benefits industry, Wendy is more than poised to take on the role of CEO having held leadership roles at Pfizer, Rite Aid, and Express Scripts.

Grant Thornton

After closing a private equity deal to merge U.S. and Ireland subsidiaries, Siegel steps down as CEO of Chicago-based IPA 100 firm, Grant Thornton. This comes on the tail end of a great financial close to 2023 with a 10.9% increase in revenue translating to a record $7.5 billion in global revenue. Siegel’s tenure spans almost 30 years at the consulting/accounting firm and he will be missed as current COO, Jim Peko, transitions to CEO.

Coreweave

Nvidia-backed cloud computing startup, Coreweave, appoints Sandy Venugopal as CIO ahead of Q2 plans to go public this year. The graph processing unit (GPU) acceleration company hires Morgan Stanley, JPMorgan, and Goldman Sachs to lead the charge in its IPO plans. As the previous CIO of SentinelOne and Uber Technologies, Venugopal knows a thing or two about transforming IT and Digital operations and scaling teams through high-growth periods.

Kaseya

Miami-based IT security management company, Kaseya, is on the prowl for a new CEO as Voccola transitions to Vice Chairman of the board after a commendable 10-year tenure. Under Viccola, the cybersecurity software company secured 18 acquisitions, reached a record high of $1.5 billion in annual recurring revenue, and surpassed longtime rival ConnectWise as the leader in the RMM/PSA market. Board member, Kevin Thompson, will assist the executive team as the search for a CEO begins.

Sonos

Wireless sound system giant, Sonos, has seen better days as CEO, Patrick Spense makes his exit following an 8-month-long PR nightmare. The audio manufacturer can’t seem to rebound after the disastrous launch of an app with a major bugs and missing key features last May that led to customer outrage, huge layoffs, subsequent underperforming launches, and loss of sales. Board member Tom Conrad will fill the role of interim CEO as the brand’s reputation continues to go downhill.

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