Detailed Version of Newsletter for month ended November 2016
Welcome to our CEO Turnover Newsletter. This newsletter covers open CEO roles and latest appointments in the tech sector in the month of November 2016.
The average length of time the CEO searches have been open is 9 months, up from 7 months earlier this year. There is little variance across geographies.
Total Tech CEO Roles Open: 155
New Tech CEO Appointments: 73 (2 women – 2.8%, 71 men)
New Technology CEO Stats
New Tech CEO Openings: 12 – Telefónica Deutschland Holding (Germany), Nuance Communications (MA), FTD Companies (IL), Syntel (MI), YuMe (CA), Model N (CA), Yuuzoo (Singapore), Jiangsu Nandasoft Technology (China), NetComm Wireless (Australia), Giken Sakata (Singapore), Touchcorp (Australia), and Brekford (MD).
CEOs Appointed
Sources of Appointments: 36 were External appointments, and 37 were internal promotions.
Others: founders, former execs, CMOs, Sales Leaders, CTOs, Chief Strategy Officers, and Leaders from acquired companies, etc.
Diversity: 2.8% of the appointments are women CEOs. Ctrip.com (China) and Interups (NY).
Geographic Distribution: 44 in North America, 9 in Europe, 19 in Asia/Russia/Australia, and 1 in Latin America.
The average and median times open CEO roles have been open are about 9 months, and there is little variance by continent. The longest open searches are:
#1 - TeleCity Group, London, UK - $529.6M, September 2014
#2 - Wi-LAN, Ottawa, Ontario - $98.3M, June 2015
Want to keep up to date? Get more updates on new board members (Tech execs on tech and non tech boards; women board members), on new execs/board updates for the Giants, the software industry, and many more. A summary of Vell Research Reports and board/exec updates can be found here. Vell Research Reports and Exec/board moves.
Dora Vell
Vell Executive Search
t: 617-530-1260 | dora@vell.com
Vell Executive Search is a retained executive search firm that specializes in recruiting technology execs for boards and executive roles, such as CEOs and C-Levels. Vell has built a reputation for recruiting talented high-performing leadership teams globally. www.vell.com
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Telefónica Deutschland Holding AG announced that CEO Thorsten Dirks is to leave the management board of the company in 2017. As mutually agreed, this termination will become effective at the end of the first quarter 2017.
Nuance Communications announced that its Board of Directors has extended Nuance Chairman and CEO Paul Ricci’s employment agreement through the first half of fiscal 2018. Mr. Ricci has advised the Board that he intends to retire at the end of this term. The Board of Directors will undertake a search process to choose Mr. Ricci’s successor during the term.
Swiss mobile operator Salt CEO Johan Andsjo has resigned, with immediate effect. The board of directors has appointed Pierre-Alain Allemand as the company's interim CEO. Allemand has been at Salt since the recent change of ownership. A search for Andsjo's successor has been initiated.
Lands' End announced that Federica Marchionni has stepped down from her role as CEO and resigned as a Director. Its Board of Directors has appointed Joseph Boitano and James Gooch Co-Interim CEOs. Mr. Boitano currently serves as Executive VP and Chief Merchandising and Design Officer, and Mr. Gooch currently serves as EVP and Chief Operating and Financial Officer.
Ooredoo Q.S.C. announced accepting the resignation of the CEO of Ooredoo Algeria, Mr. Joseph Ged, who has resigned this position. *Replacement not announced.
FTD Companies announced that Christopher W. Shean, one of the company’s directors, has been appointed interim President and CEO. Shean has served as one of FTD’s directors since December 2014. Mr. Shean is CEO of Liberty Expedia Holdings.
Gil Sharon, CEO of Pelephone, announced that he was ending his tenure after ten years as CEO of the company, following his upcoming appointment as CEO of Discount Investment Corporation. Sharon will be leaving Pelephone in three months, after transitioning the role to his successor.
Syntel appointed Rakesh Khanna, formerly COO, as interim CEO and President, effective November 3, 2016.
Chorus announced that Mark Ratcliffe has given notice of his intent to step down as its CEO and Managing Director around the middle of 2017.
Mr. Greg Young, CEO of Omani Qatari Telecommunications Company SAOG (Ooredoo), has resigned from the company on October 18, 2016, for personal reasons. The Board has appointed Mr. Jorgen Latte, the company’s CFO as Acting CEO for an interim period until the Board appoints a new CEO.
Imation announced that Bob Fernander, an existing member of the company’s Board of Directors, has been appointed as Interim CEO.
Torstar Corporation announced that David Holland has decided to retire as President and CEO of Torstar Corporation later this fall. Torstar has initiated a search to fill the joint position of President and CEO of Torstar and Publisher of the Toronto Star. Mr. Holland has worked in a number of divisions within Torstar since 1986, and has served as President and CEO for the past seven years.
Michael Tobin, who had led the FTSE 250 group for a decade, left the company, with chairman John Hughes taking over executive responsibilities while a replacement is found.
UXC announced that Managing Director & CEO, Cris Nicolli has informed the Board of Directors of his intention to retire in 2016. A succession planning process has been in place for some time to enable the Board of Directors to choose Nicolli's successor and both internal and external candidates have been considered for the role.
5N Plus announced that Jacques L'Ecuyer has informed the board of directors of the company of his desire to step aside from his current position of president and CEO. He will remain as President and CEO until the new President and CEO has been appointed by the board of directors.
FARO Technologies announced that Jay Freeland plans to step down as President and CEO and member of the Board of Directors. Freeland will remain in his current role until a successor is appointed. Freeland is leaving to pursue other business and personal interests.
Optiemus Infracom. has informed that Sh. Ravinder Zutshi has resigned as Managing Director of the Company with an immediate effect due to his personal and family commitments. All day to day duties of the Managing Director in the interim will be performed by Mr. Ashok Kumar Gupta, Executive Chairman of the company.
Perion Network. announced that Josef Mandelbaum will be leaving his position as CEO after a transition period of up to several months. The Board of Directors has begun a search for the Company's next CEO and the Board and Josef are committed to a seamless transition.
Tangoe announced that Albert R. Subbloie, Jr. resigned from his positions as President and CEO and as both a member and Chairman of the Board of Directors. On May 2, 2016, the Board appointed James D. Foy, one of the company's directors, as Acting CEO.
Sepura PLC has appointed Alan Lovell as Chairman and David Barrass as Interim CEO. David has held a number of CEO roles as well as non-executive positions. David's appointment reflects the extended period of absence being taken by Gordon Watling, the CEO, on medical advice, as announced on 14 September 2016. Richard Smith reverts to his role as CFO having previously also been Acting CEO.
Ulrich Reutner has decided to resign as CEO of exceet Group SE and from related functions for private reasons on 1 March 2016. He will continue to support exceet until the end of 2016 to ensure a smooth transition and to support the planned divestment of the IDMS segment with his experience in this market. The CFO of exceet, Wolf-G\xFCnter Freese, will act in addition to his duties as CFO, as CEO ad interim with immediate effect.
3i Infotech announced that Mr. Madhivanan Balakrishnan, Managing Director & Global CEO of the company has decided to step down. Padmanabhan Iyer, Director and CFO of the company shall be designated as the acting CEO of the company in addition to his current role.
YuMe announced that Jayant Kadambi will no longer serve as YuMe’s Chairman of the Board and CEO. Mr. Kadambi will remain on the Board. YuMe’s Board of Directors has named Paul Porrini to the role of Interim CEO. Mr. Porrini most recently served as the Company’s EVP, General Counsel and Secretary, and has led YuMe’s legal and human resources functions since July 2012.
Global Sources announced that CEO Spenser Au is retiring. He will remain engaged until the end of the year to assist the company in transitioning to a successor.
Marchex announced changes to its executive leadership team to improve its operational performance and focus on returning the company to profitability. Pete Christothoulou has resigned as CEO. The Board of Directors has created an Interim Office of the CEO subject to oversight by Anne Devereux-Mills as Chairman and comprised of the following members: Russell Horowitz, former CEO and Chairman of the Board and current consultant to the company, Michael Arends, CFO; Ethan Caldwell, Chief Administrative Officer and General Counsel; and Gary Nafus, Chief Revenue Officer. The Board of Directors will begin a search for the company’s next CEO.
On December 17, 2015, Speed Commerce announced that Dalton Edgecomb was appointed as its Interim CEO and Interim President, and Bruce Meier was appointed as its Interim CFO. Mr. Edgecomb is a principal of Winter Harbor, LLC and has more than 20 years of experience advising companies through cash management and cost reduction, capital structure refinancing, crisis management and business plan development for restructuring purposes.
The Board of Nera Telecommunications announced that Mr. Ang Seong Kang Samuel, CEO, has tendered his resignation on October 24, 2016. In accordance with his contractual obligations, he will continue to be employed by the company for a period of 18 months and will facilitate the transition of leadership. His final day of service with the company shall be on April 23, 2018. The Board has appointed Mr. Beck Tong Hong to serve as acting CEO in the interim.
Model N announced that effective November 15, 2016, Zack Rinat has re-assumed the role of CEO on an interim basis to replace Edward Sander, who will be leaving the company and resigning from the board of directors effective November 18, 2016. Mr. Rinat is Model N's founder and has served as the Chairman of the board of directors since the company's inception in December 1999. Mr. Rinat also served as the company's CEO from December 1999 to February 2016 and as Executive Chairman since February 2016.
Yuuzoo Corporation Limited announced the cessation of James Matthew Somasundram as CEO. Due to personal reasons or health reasons.
In a board meeting in Q-Free ASA held on November 3, 2015 the board approved the step down of Thomas Falck as CEO of the company with immediate effect. CFO Roar is appointed as interim CEO in the company.
CEO James (Jim) Skippen intends to retire and will stay on until such time as a suitable replacement has been identified and hired. A special committee of the Board will immediately begin the search for a new permanent CEO with the assistance of a leading search firm.
The CEO of Solutionary will step down at the end of this year, as the company is becoming more tightly integrated into the Japanese firm that acquired it in 2013. Steve Idelman said the company, known as of Aug. 1, 2016 as NTT Security, is hiring and growing in Omaha.
Avanza announced that its CEO Martin Tiveus intends to leave his position. He will remain in his current role during his six months period of notice. Martin Tiveus became CEO of the company in 2011.
Omesti Berhad announced that Gan Nyap Liou alias Gan Nyap Liow, Managing Director will resign. The effective date is December 31.
MOBOTIX AG has announced the resignation of Klaus Gesmann as CEO, CFO, and as a member of management board. An interim manager will initially be placed in charge of the Finance department, previously under his control, while CTO Dr. Oliver Gabel is temporarily taking over the Purchasing department. A third board member will be appointed in the near future.
8Telecom International Holdings Co.. Announced that resignation of Ye Tianyun as Executive Chairman and CEO of the company, effective from July 26, 2016.
Tecnotree has announced the resignation of Ilkka Raiskinen as CEO following its application for a restructuring programme designed to stave off bankruptcy. Tecnotree appointed the EVP MEA & APAC Padma Ravichander as Interim CEO. Ravichander has been with Tecnotree for duration of 5 years.
Westell Technologies announced that its board of directors has appointed Kirk R. Brannock as interim president and CEO. The company also announced that Dennis O. Harris, a director of the company since January 2010, has been appointed interim chairman of the board.
The board of directors of Jiangsu NandaSoft Technology Company Limited announced that Mr. QIAO Ruo Gu has resigned from the offices of executive director and CEO of the Company, and Mr. DONG Liang has resigned as supervisor representing the shareholders of the Company, both with effect from 9 November 2016, due to their desire to devote more time on their personal affairs.
BSD Crown. announced that further to the company's announcement of 15 July 2016 regarding Israel Yosef Schneorson’s decision to step down from his post as CEO with effect from 31 October 2016, the company hereby announced that the Board of Directors notified Mr. Schneorson, on 24 August 2016, that his management services agreement with the company is terminated with immediate effect in light of the latest events as the company published in the last months. Consequently he will cease to act as the company CEO from that date.
On September 15, 2016, Quest Solution announced that Gilles Gaudreault, the CEO of the ccompany has taken a leave of absence. Mr. Gaudreault intends to resign as a director and officer of the company and its affiliates effective as of the date of the closing of the Transaction. The Board of Directors of the company has appointed Thomas O. Miller, the company's current President and Chairman of the Board, to serve as the company's Interim CEO during Mr. Gaudreault's leave of absence.
The board announced that Mr. Hui Lap Shun John, an executive Director of the company, has been appointed as the chairman of the company and the acting CEO with effect from November 25, 2015.
On October 28, 2016, Elizabeth M. Cholawsky resigned her position as president and CEO of Support.com. On October 28, 2016, the board of directors of the company elected Richard Bloom as the interim president and CEO of the company. Mr. Bloom, age 49, currently serves on the board, and has served since June 2016.
NetComm Wireless Limited announced that David Stewart will be retiring from the role of CEO & Managing Director, as well as from the company's Board, effective from 23 December 2016. Until a formal appointment has been made, Ken Sheridan, the company's current Chief Strategy Officer and Executive Director has been appointed Interim CEO.
Giken Sakata (S) Limited announced cessation of Tan Kay Guan as Executive Director and CEO of the company, to pursue personal interest.
GuestLogix announced that Brett Proud has advised the Board that effective immediately he is retiring from his position as CEO and Director. Proud has agreed to remain available to the Board and management in a consultative role through the end of the year. A special committee of the Board has begun the search for a new permanent CEO. In the interim, Chairman Louis Belanger-Martin will play a larger role in both the strategic direction of the business, as well as the oversight of critical client and partnership relationships.
Blue Star Infotech announced that at its board meeting held on January 27, 2016, the board has accepted the resignation of Mr. Sunil Bhatia as CEO and MD. The board also approved the resignation of Mr. Aloke Ghose, as CFO and Company Secretary. Mr. V. Sudarshan was appointed as CFO and Company Secretary, effective January 27, 2016. He has also been appointed as Compliance Office, effective January 27, 2016.
The Board of Ensogo advised that it has accepted the resignation of CEO, Mr. Kris Marszalek. Marszalek is a co-founder of E88 and has been the CEO since August 2014. The Board is yet to announce the appointment of a new CEO.
Xchanging Solutions announced that company has received a resignation letter from Mr. Alok Kumar Sinha, CEO cum whole time director with effect from November 10, 2016.
Fireswirl Technologies announced that Tony Lau has resigned as the CEO, President and CTO of the company and as a member of the company's board of directors. Lawrence Ng has been appointed to replace Lau as the company's Interim CEO and has been appointed to the board.
Serial System announced resignation of Mr. Peter Ho I Chin as Executive Chairman and Group CEO of Bull Will Co., , effective from January 07, 2016.
Brady plc announced that after nine years Gavin Lavelle has decided to pursue new opportunities and has stepped down as CEO with immediate effect. Mr. Lavelle will leave the company in February 2017. And Ian Jenks will assume operational control of the company as executive chairman.
Touchcorp Limited announced that Managing Director, Mr. Adrian Cleeve, passed away on November 8, 2016 after a short illness. The Chairman of Touchcorp, Mr. Mike Jefferies, has been appointed as acting CEO.
RF Industries announced that Johnny Walker, President and CEO, and the company mutually agreed to terminate his employment with the company to allow Mr. Walker to attend to family medical needs and to be closer to his residence in Arlington, Texas. Howard Hill, RFI's former President, CEO and Founder, will serve, without pay, as the company's interim President and CEO.
On February 16, 2016, the Board of Directors of Towerstream Corporation appointed Philip Urso as Interim CEO and Arthur Giftakis as COO of the company. Mr. Urso presently serves as Chairman of the Board of Directors and Mr. Giftakis as SVP of Engineering and Operations of the company. Urso co-founded Towerstream, has served as the company's director and chairman since inception and was CEO from inception until November 2005.
The Board of zamano plc announced that Ross Conlon has tendered his resignation as CEO and director of the company with effect from May 9, 2016 to pursue other interests. Ross has agreed to facilitate a smooth handover. The board will immediately commence a process for the appointment of a new CEO of the company.
Bartronics India has informed that Mr. Pundarika Prasad Bibireddy, CEO of the Company, has tendered his resignation with a request to be relieved immediately. On the interim basis, Mr. K. Udai Sagar, Managing Director of the Company, will take charge of his responsibilities.
Act-On Software's CEO and Chairman Raghu Raghavan is stepping aside from the company. Raghavan, who will still be involved with the company, said a new CEO will be named soon. Prior to Act-On, Raghavan helped to start California-based Responsys.
Nexgram Holdings Berhad announced the resignation of Mr. How Han Lun as executive director and interim CEO of the company with immediate effect.
Daegis announces management changes with the terms of the merger agreement and effective as of the effective Time on November 23, 2015. Timothy P. Bacci and Susan K. Conner were removed from the positions of CEO and CFO, respectively, of the company.
Anoto Group AB (publ) appointed Joonhee Won a new interim CEO. Stein Revelsby will resign from office with immediate effect after five years as CEO. The recruitment process of finding a long-term alternative as CEO will be initiated within a few months.
Publishing Technology, UK - $21.4M, September 2015
Publishing Technology PLC announced that after careful consideration, the Board announced that Michael Cairns has stepped down as CEO with immediate effect and will be replaced as acting CEO by the company's current CTO David Montgomery.
Panoramic Universal , India - $21.20M, January 2016
Panoramic Universal has announced that Mr. Babu Iyer intimated about his intention to resign as Director from the Board of the Company and as Managing Director of the Company.
RoomLinX, Colorado - $20.8M, February 2016
RoomLinX announced that in order to focus on capital requirements, public markets, investor & public relations, and M&A opportunities, effective January 4, 2016, Aaron Dobrinsky, CEO, has handed all of his day to day executive positions at the company and its subsidiaries to existing members of the management team. With his focus to help build shareholder value, Mr. Dobrinsky has assumed the role of Chairman of the Board.
Europtronic Group, Singapore, $18.7M, April 2016
Europtronic Group. announced the resignation of Mr. Huang Chien-Hung as CEO and Executive Director of the company with effect from 8 April 2016. In the interim period, the duties of the CEO would be undertaken by the Vice Chairman the Company, Mrs. Huang Chuang Shueh-Ou.
Posera-HDX , Toronto, ON - $16.1M, September 2015
Posera-HDX announced that Paul K. Howell has stepped down as CEO effective immediately. Mr. Howell will continue as a director of the company. An interim CEO will be appointed as soon as possible.
Brekford, Maryland - $16M, November 2016
Brekford Corp. announced that effective November 23, 2016 the company entered into a separation agreement with C.B. Brechin, the company's CEO and CFO. Pursuant to the Separation Agreement, as of the Effective Date Mr. Brechin commenced a sabbatical leave from his position as the company's CEO and CFO. Mr. Brechin will continue to serve as a member of the Board of Directors of the company. Commencing 18 months after the Effective Date, Mr. Brechin will serve as a consultant to the company for a period of four years pursuant to the terms of a consulting agreement between the company and Mr. Brechin. Rodney Hillman, the company's President and COO was named principal financial officer as of November 23, 2016.
Micronet, Israel - $15.4M, September 2016
On September 18, 2016, Mr. Shai Shalom Lustgarten, CEO of Micronet. notified the company of his resignation. Mr. Lustgarten's notice of his resignation was accepted by Micronet., however, as per the terms of his employment agreement and his prior notice obligations, Mr. Lustgarten shall continue to serve as the CEO of Micronet. until September 17, 2017, unless otherwise notified by the company.
Image Sensing Systems, Minnesota - $15.2M, June 2016
Image Sensing Systems announced that Dale Parker has resigned as CFO, Interim CEO, COO and Director. The board has appointed Chad Stelzig as Interim CEO. Mr. Stelzig has most recently served as VP of Engineering of ISS in addition to his prior position as Director of Algorithm and Software Engineering at the Company.
Corum Group , Australia - $13.8M, November 2015
Corum Group announced that David Tonuri has resigned from his positions of Managing Director and CEO with immediate effect. Current CFO, David Clarke, has assumed the position of interim CEO. David will hold this position for the time necessary for the board to undertake a search process for a new CEO.
Giga-tronics, California - $13.7M, August 2016
Giga-tronics Incorporated appointed W. Joseph Thompson as Chairman and Acting CEO. He succeeds John Regazzi, the architect of the company’s Advanced Signal Generator and Analysis platform (ASG), who is assuming the role of CTO to enable him to focus on customer engagement and future technology development.
RiT Technologies, Israel - $13.2M, June 2016
RiT Technologies announced that Yossi Ben Harosh has resigned from his position as the President and CEO.
Schmitt Industries, Oregon - $13.00M, January 2016
Schmitt Industries announced that on January 8, 2016, James A. Fitzhenry, the President and CEO of the company tendered his resignation as an officer of the company, including any positions held with any of the company's subsidiaries. Mr. Fitzhenry will retain his position as a director of the company. On January 8, 2016, the company appointed board member David M. Hudson as its Interim President and CEO.
Pinnacle Technology Group plc, UK - $11.90M, January 2016
Pinnacle Technology Group plc announced that Nicholas Scallan, CEO, intends to step down from the Board at this year's Annual General Meeting proposed to be held on 23 March 2016. He will remain as CEO until this time. As announced on 7 December 2015, James Dodd will also step down as a non-executive director at the time of the AGM.
WANdisco, UK - $11M, September 2016
The Board of WANdisco announced that David Richards, CEO, will be stepping down from the Board and his role as CEO of the company with immediate effect. In the interim period, Paul Walker, Non-Executive Chairman, has assumed the role of Executive Chairman with immediate effect.
International Datacasting Corporation, Ontario - $7.2M, February 2016
International Datacasting Corporation announced a change in management. As previously announced, the Board has commenced a formal process to explore strategic alternatives with a view to enhancing shareholder value. Accordingly, IDC's Senior Management team including the Co-CEO's Chris Barrett and Steeve Huin, as well as the CFO, Steve Archambault, have voluntarily offered their resignations. Archambault has agreed to serve as CFO and interim CEO during this transition period.
SpendSmart Networks, California, $6.46M, March 2016
Alex Minicucci resigned his position as CEO and was appointed to the position of Chief Strategy Officer. The Board of Directors appointed Chairman Jerold Rubinstein to the position of interim CEO. Mr. Rubinstein will serve as interim CEO until the appointment of a permanent CEO. Mr. Rubinstein has served as a member of the Board of Directors and Chairman of the company's Audit Committee since October 2013.
Birdstep Technology, Norway, $6.37M, March 2016
Lonnie Schilling, the CEO of Birdstep Technology ASA will step down from his position as the company's CEO. Mr. Schilling will continue to serve as the company's CEO for the notice period of six months, which starts on April 1, 2016.
Electronics Industry Public Company , Thailand - $5.3M, August 2016
Electronics Industry Public Company (EIC) announced that Mr. Bee Taechaubol has resigned from the position of Chairman and CEO of the company, effective August 11, 2016 due to his busy work schedule for overseas business commitments. The board of directors' resolved to appoint Mr. Luca Roveda as Chairman of the board of directors and acting CEO until a suitable replacement can be appointed.
Uniserve Communications, Canada - $4.9M, October 2016
Uniserve Communications Corporation announced that Hashim Mitha, the current President and COO, has been appointed interim CEO allowing John Dobson to focus his efforts on growing the company`s enterprise consulting division.
Great Elm Capital Group, California - $4.5M, July 2016
On July 18, 2016, Mr. Richard S. Chernicoff was appointed, on an interim basis, as CEO of the Great Elm Capital Group. Mr. Chernicoff will remain a member of the company's board of directors.
Sunvault Energy, Alberta - $3.87M, October 2016
Gary Monaghan has resigned as a member of board of directors. Mr. Monaghan concurrently resigned as CEO of company. The resignation of Mr. Monaghan is as a direct result of a change of control in the company per his management contract and a difficult personal family illness at home and not the result of any disagreement with company regarding operations, policies, practices or otherwise. Mr, Monaghan is enacting his change of control provisions within his management contract which is predominantly unpaid to date.
Shanxi Changcheng Microlight Equipment, China - $3.7M, August 2016
The board of directors of Shanxi Changcheng Microlight Equipment Co.. announced that Mr. Wang Wen Sheng resigned the position of CEO of the company as he intends to spend more time on other business and Mr. Shen Jian (Mr. Shen) was appointed as acting CEO of the Company, with effect from 19 August 2016. Mr. Shen, aged 43, is currently the secretary of the Board and in-charge of the sale department of the Company.
Asdion Berhad, Malaysia - $2.34M, November 2015
Asdion Berhad announced that Tai Tee Yap, CEO has resigned. The effective date is November 11, 2015.
Sitestar, Virginia - $1.99M, December 2015
On December 14, 2015, the Sitestar Corporation board of directors terminated Frank Erhartic for cause from his position as president and CEO of the company effective immediately. Mr. Erhartic also agreed to resign his position as a director of the Company effective immediately. The board has appointed Steven L. Kiel as interim president and CEO. Steven L. Kiel, 37, is the founder and president of Arquitos Capital Management.
DagangHalal, UK - $1.48M, October 2016
A search for a replacement for CEO Mohamed Hazli Mohamed Hussain has commenced. In the interim period, Francis Chong, Managing Director and co-founder, has assumed the role of CEO with immediate effect.
iGAMBIT, New York - $1.47M, October 2016
The Board of Directors of iGambit unanimously voted to remove Rory T. Welch as its president and CEO. On October 24, 2016, Board of Directors unanimously voted to appoint John Salerno as its interim President and CEO, to replace its current president and chief executive. Officer Rory T. Welch. Mr. Welch will remain in the role of CEO and President of Subsidiary Wala.
Magor Corporation, Ontario - $1.4M, August 2016
Magor Corporation announced that Mr. Mike Pascoe has decided to step down as CEO and a member of the Board on August 31, 2016. The board has appointed Mr. Brian Baker, its current CFO, as interim President and CEO and he will be joining the board of directors.
Spindle, Arizona - $0.6M, June 2016
Spindle named Michael J. Schwartz as its Interim CEO. Schwartz replaces Bill Clark who has held the CEO role since 2011. Prior to joining Spindle, Schwartz was Chief Technology Officer, International Group of Fiserv.
OTCO International, India - $0.45M, November 2015
OTCO International announced that Ms. Chinnamma Pullatu Mathew is re-designated as Non-Executive & Non-Independent director from her existing position as executive & non-independent director and CEO of the company. She is not holding the post of CEO hereafter.
Zaio Corporation, Alberta - $0.43M, November 2015
ZAIO announced that David King has been terminated from his position as President and CEO by the Board of Directors. Joel Strickland, Chairman of the Board has been appointed interim CEO, and Phil Wazonek, currently a Zaio Director has been appointed interim President and COO.
VidWrx, Canada - $0.4M, June 2016
VidWrx announced that CEO Steve Hancock was injured in a cycling accident on June 8. Steve is currently hospitalized with serious injuries the full extent of which is still being assessed. As a result the Board of Directors announced that Steve will be stepping down as CEO and Director of the Company.
Agritek Holdings, Colorado - $0.03M, November 2015
On November 4, 2015, Justin Braune resigned as the CEO and as the sole member of the Board of Directors of Agritek Holdings. B. Michael Friedman will act as interim CEO, and sole member of the board, and shall serve until the 2016 annual meeting of stockholders and thereafter, until his respective successor is duly elected, qualified and practicable to replace Mr. Friedman. Mr. Friedman was previously the company's CEO from 2009 until he was replaced by Mr. Braune in March 2015.
Kashin, Nevada, $0.01M, March 2016
On February 28, 2016 in a Consent to Action in Lieu of a General Meeting of the Shareholders of Kashin to remove and terminate Carl Maybin II as the CEO and as a Director, Richard Dryer as the CIO and as a Director, to appoint Richard Specht as the Interim CEO, Interim CFO and Interim President and to appoint Scott Kline as the CIO and as a Director.
Primary Opinion, U.K - $0.01M, December 2015
Primary Opinion announced that Mr. Martin Burke has tendered his resignation as CEO & Managing Director of the company effective 10 December 2015. Mr. Burke will continue to assist the board for the next 3 months to ensure a smooth transition of the Australian operations.
BreedIT Corp., New York - $0.01M, November 2015
On November 10, 2015, the board of directors of BreedIT Corp. accepted the resignation of Mr. Yoel Yogev as the company's CEO and a director, effective November 10, 2015. Mr. Yogev stated that the reason for his resignation was to permit him to pursue other business interests. Mr. Itschak Shrem, who has served as the company's chairman since December 31, 2013, has been appointed as interim CEO and will continue to serve as chairman of the company's board of directors.
Kronologi Asia Berhad, Selangor, Malaysia - October 2015
Kronologi Asia Berhad announced appointment of Mr. Teo Chong Meng Philip Dominic (Executive Director) as Acting CEO and Mr. Tan Wee Seng Gerard (Independent Non-Executive Director) as Non-Executive Chairman.
NETIA SA, Poland, October 2015
Netia announced Boguslawa Matuszewska's term as temporary president of its management board (CEO) expired on 06 October. As a member of the company's supervisory board, she was appointed temporarily to perform the duties of the CEO with effect from 06 July for no longer than three months. Netia also announced that she resigned her membership of the company's supervisory board with effect from 06 October.
Wall Street Media Co., New York, NY - October 2015
Wall Street Media Co. announced that Jerrold D. Burden immediately resigned as the sole director, CEO, President, Principal Executive Officer and Principal Financial Officer of the company. The company also announced that Jeffrey A. Lubchansky was appointed as the company's sole officer and director, serving as the company's interim CEO, President, Principal Executive Officer and Principal Financial Officer.
Epcylon Technologies, Toronto, ON - September 2015
Effective on September 22, 2015, the board of directors of Epcylon Technologies accepted the resignation of Jack J. Bensimon as the CEO and member of the board of directors of the company. Gary Schwartz, as director of lead strategies on behalf of the company, will be overseeing the day-to-day operations of the company until a replacement for CEO has been appointed.
HashingSpace, Los Angeles, CA - September 2015
Timothy M. Roberts resigned as the Chairman and CEO. No replacements announced yet.
Compumed, California, November 2015
CompuMed announced that W. Scott Rombach has resigned as President, CEO, and Director of CompuMed, effective November 13, 2015. Lee Keddie and David Pointer, existing Directors, will serve in the role of interim Co-CEOs for the company.
Oniqua Pty, Queensland, November 2015
Oniqua Intelligent MRO announced that effective December 4, 2015 company co-founder and CEO Andy Hill will retire after 25 years of service. Steve Herrmann, EVP of marketing and alliances for the company, will serve as interim CEO to ensure a smooth and successful transition during the search for Mr. Hill's successor. Hill will continue to provide strategic advice and counsel to the company on a consulting basis.
Openreach, Greater London, November 2015
BT announced that Joe Garner is to step down as CEO of Openreach after deciding to take up a new challenge as CEO of Nationwide.
Société Internationale de Télécommunications Aéronautiques, Geneva, November 2015
SITA announced that CEO Francesco Violante will step down in the second half of 2016 after more than 13 years at the helm. A global search for Violante's successor is currently under way.
1st Detect Corporation, Texas, November 2015
Astrotech Corporation and its subsidiary 1st Detect Corporation, announced the demise of 1st Detect CEO Bob C. Kibler on October 31 due to heart complications. Mr. Kibler joined the company on June 23, 2014 and served as CEO of 1 Detect Corporation since December 4, 2014. Thomas B. Pickens III, Chairman and CEO of Astrotech Corporation and Chairman of 1st Detect, who was also the CEO of 1 Detect from inception to December 3, 2014 will serve as Acting CEO until a successor is named.
PeerTV, Israel, November 2015
PeerTV Plc announced the resignation of Wes Wilcox as CEO of PeerTV.
Ournett Holdings, New York, November 2015
Effective as of October 22, 2015, Mr. Xavier Rey has resigned as the CEO of Ournett Holdings and as a member of the company's Board of Directors.
ShopKeep POS, New York, December 2015
Effective Jan. 1, 2016, ShopKeep announced that President and CEO, Norm Merritt, will be stepping down as head of the company for personal reasons. Michael DeSimone, who was formerly CEO of Borderfree will serve as ShopKeep’s acting CEO.
Total Client Services, South Africa, December 2015
Total Client Services announced its shareholders that Mr. Lindikhaya Sipoyo has decided not to renew his employment contract for a third term. However, in order to ensure a seamless transition, Lindikhaya has agreed to continue to fulfill the role as Executive Director and CEO until a suitable replacement is found.
Micromax Informatics , India - January 2016
Micromax announced that CEO Vineet Taneja has resigned from the company. Taneja was appointed the CEO in May 2014. The company's four promoters, Rajesh Agarwal, Vikas Jain, Rahul Sharma and Sumeet Kumar, that own about 80% stake, are now in charge of the company.
Imagination TV, Florida - January 2016
STEVEN SAMBLIS, has stepped down as CEO, CFO and President and as a Member of the Board of Directors of the company. JOE SIRIANNI, who has consented to act as a President, Secretary and Treasurer, is appointed as President, Secretary and Treasurer of the company.
HempTech Corporation, Florida - January 2016
In connection with the new operating structure and upon completion of the Agronetix Merger, Sam Talari will become the Acting CEO and CFO of Agronetix. The Company will start to recruit a CEO for HempTech Sam Talari will remain as the acting CEO for HempTech.
Superloop announced that Superloop Executive Director and Founder, Mr. Bevan Slattery will be taking the role of Interim CEO of Superloop. Slattery will remain in the role of company Chairman.
On February 4, 2016, AppYea's sole director, CEO and CFO, Jackie Williams, passed away. Effective February 16, 2016, pursuant to the company's Bylaws, shareholders holding a majority of the common share votes, voted by written consent to appoint Keri Williams and Devin Beavers to serve as directors of the company. In addition, on February 16, 2016, the newly appointed board of directors appointed Devin Beavers to serve as interim CEO and interim CFO.
Qliro Group AB (publ) announced that Magnus Mansson intends to step down as CEO of Nelly. Magnus will remain in his current role until further notice and has a six month notice period. Magnus Månsson will assume the role of CEO of Gina Tricot after he has concluded his assignment at Nelly.
Pocket App has announced that Hugh Griffiths, a former Director of Mobile Services at Microsoft, has been appointed as Interim CEO. Paul Swaddle, the incumbent CEO, has taken up the position of Chairman and will continue to drive innovation and development, marketing and product marketing.
The Board of Directors of Coinsilium Group appointed Mr. Mark McDonnell as interim CEO of its investee company operating as Magnr. Mark has over 25 years' experience in the Financial Services Industry and has held senior positions at Lehman Brothers, AIG Financial Products and Bank of America Merrill Lynch. Mark is a director of Sherpa Millbank. and is a founding partner of EMx Capital Strategies LLC.
Ericsson has announced the departure of Hans Vestberg as the president, CEO and member of the board of directors. Jan Frykhammar, EVP and CFO, will assume the CEO position until a new CEO is in office.
TransBiotec appointed Ivan Braiker as Interim CEO and Interim Secretary, on September 1, 2016. Mr. Braiker was CEO of DubLi from May 2015 to January 2016. Prior to his position with DubLi, Mr. Braiker was President and CEO of Hipcricket from 2004 to 2014.
On November 8, 2016, Inseego (formerly known as Novatel Wireless) completed its previously announced internal reorganization (the Reorganization) and Sue Swenson became the CEO and principal executive officer of Inseego.
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Tech Companies: CEOs Appointed |
This is the detailed version of CEOs Appointed in the month November 2016.
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