How Four Companies are Revamping Their C-Suite in 2016
For most organizations, January represents a fresh start—and a good time to launch new strategies and initiatives. At least four Fortune 500 companies are also kicking off 2016 with a few new faces in the C-suite. These leaders will likely be looking to make their mark with new investments in digital and technology. Knowing about these incoming executives—and what their focus and challenges are—could help you get your pipeline off to a roaring start this year.
Here’s a list of the players and what they are likely to be facing in their new roles:
DISH is under pressure to compete with companies like Verizon and AT&T with a high-speed wireless network that can deliver advanced services like TV and Internet as its pay-TV business shrinks. In December 2015, DISH announced several management changes, including CEO and founder Charlie Ergen’s decision to step down as president. The management changes are “indispensable as we advance our work on the strategic transformation of Dish, including our entry into the wireless industry,” Ergen said in a statement.
Ergen will remain CEO and board chairman, but Erik Carlson, who had been Executive Vice President of Operations, was named President and Chief Operating Officer. Additionally, seven other executives were also appointed to new roles:
DISH COO and EVP Bernie Han was moved to EVP of Strategic Planning, but is said to continue reporting to Ergen.
- Warren Schlichting has been elevated to Executive VP of Marketing, Programming, and Media Sales from his previous position as Senior VP of Programming and Media Sales.
- Vivek Khemka was appointed Executive Vice President and Chief Technology Officer.
- Brian Neylon has been promoted to EVP of Customer Acquisition and Retention and formerly served as DISH’s SVP of Sales.
- John Swieringa has been promoted to Carlson’s former position of EVP of Operations. He was formerly DISH’s SVP and CIO.
- Rob Dravenstott, most recently DISH’s VP of IT Application Development was promoted to SVP and CIO, reporting to Swieringa.
- Paul Organ, previously SVP and Corporate Controller, is now Chief Accounting Officer and reports to Steve Swain, DISH’s SVP and CFO.
Insurance company AIG is undergoing a major shake-up that is part of a broader plan to cut up to 23 percent of AIG’s senior management, or as many as 320 positions, and is aimed at making AIG less complex, more efficient and able to make decisions faster. President and CEO Peter Hancock said, “We are moving forward with a continued sense of urgency on our four strategic priorities: narrowing our focus on clients, products, and geographies where we can grow profitably; driving for efficiency; growing through innovation, and optimizing our data assets and client relationships; and returning excess capital to shareholders.” In November 2015, AIG said it plans to spend $500 million on an "organization simplification," including costs for severance and termination benefits as it axes its management ranks, Crain's New York Business reported. AIG said, "Further staff reductions are anticipated in 2016." All this comes as AIG is being pressured by activist investor Carl Icahn to boost returns.
Those leaving include David Herzog, Chief Financial Officer; John Doyle, Executive Vice President and Chief Executive Officer Commercial Insurance; Jose Hernandez, Senior Vice President and Chief Executive Officer Asia Pacific; and Eric Martinez, Executive Vice President Global Claims and Operations. Hancock called the new executive team a “dynamic, highly skilled group of executives.” Members of the new executive leadership team who will report to Hancock are:
- Douglas Dachille – Chief Investment Officer. He will oversee the Science function, and Murli Buluswar, Chief Science Officer, will report to him.
- Philip Fasano – EVP and Chief Information Officer
- Martha Gallo – Chief Auditor. Gallo will continue to report both to the Board’s Audit Committee and to Hancock.
- Kevin Hogan – EVP and CEO of Consumer. The Japan operations and the Consumer Claims organization will report to Hogan.
- Jeffrey Hurd – Executive Vice President – Transformation, Human Resources, and Administration
- Seraina Maag – CEO of Regional Management & Operations. The Regional CEO & President roles (Americas, EMEA, and Asia Pacific) will be consolidated into one role with oversight of country management. Maag will also assume oversight of Operations.
- Thomas Russo – General Counsel – Legal, Compliance, Regulatory Affairs, and Government Affairs
- Sid Sankaran – Chief Financial Officer. He will maintain oversight of Enterprise Risk Management.
- Alessa Quane will become Chief Risk Officer and will continue in the role of Chief Corporate Actuary, reporting both to Sankaran and to the Board’s Risk and Capital Committee.
- Robert Schimek – CEO of Commercial. The UK operations and the Commercial Claims organization will report to him.
- Brian Schreiber – Chief Strategy Officer, and Head of Corporate Marketing and Communications.
As MasterCard evolves from a credit card company into a technology company focused on providing electronic payments worldwide, it has been transforming its executive suite to reflect the new corporate culture, which, company executives say, embodies innovation and efficiency.
MasterCard’s leadership changes include:
- Ed McLaughlin, formerly Chief Emerging Payments Officer, has been appointed CIO. He told analysts in 2015, “We are getting out of the physical world where plastic card goes to a terminal and that is just an awesome opportunity for MasterCard.”
- Craig Vosburg, most recently MasterCard’s Chief Product Officer, was promoted to President of North America Markets. Vosburg will oversee the company’s customer-facing activities in the United States and Canada, including sales, business development, strategy and relationship management with issuers, merchants, governments and acquirers. He will join the company’s Executive Committee.
- Chris Monteiro, who led Worldwide Communications for MasterCard since 2001 and has been responsible for delivering integrated communications solutions that drive MasterCard’s business performance and reputation, is now Chief Communications and Digital Marketing Officer.
- Garry Lyons, Chief Innovation Officer, leads the Digital Payments and MasterCard Labs organizations. He will be responsible for consolidating the development and delivery of emerging digital payments solutions to ensure a high quality consumer and merchant experience.
- Michael Miebach has assumed the role of Chief Product Officer for the company, replacing Vosburg, and is now based in New York. He previously had been President, Middle East and Africa.
- Raghu Malhotra replaces Miebach as President, Middle East and Africa. He had overseen Middle East and North Africa. This position will add supervision of sub-Saharan Africa and South African markets to his responsibilities.
- In September 2015, Michael Minelli, formerly MasterCard’s Global Head of Partnerships and Mergers & Acquisitions, was promoted to Global Vice President of MasterCard Labs.
“These moves will drive tighter integration across the organization allowing us to enhance our product offering and brand experiences in an increasingly digital world,” said Gary Flood, president, Global Products and Solutions, MasterCard.
Starwood’s leadership change starts at the top as Thomas Mangas takes over as CEO. He had been serving as the company’s EVP and CFO since 2014. He comes in as Starwood merges with Marriott, an acquisition deal that is expected to close in mid-2016. Starwood’s early lead in lifestyle brands is starting to come under siege. Marriott International Inc., Hilton Worldwide Holdings Inc. and others have launched lifestyle brands in recent years that threaten Starwood’s W Hotels’ early dominance in hotels offering swank bars and lively lobbies in a bid to appeal to younger, more design-conscious clientele.
Additionally, Alan Schnaid is Starwood’s new CFO. He most recently served as the company’s Senior Vice President, Corporate Controller and Chief Accounting Officer.
Earlier in 2015, Starwood made sweeping changes in its senior team, including:
- John Peyton was appointed to the new role of Senior Vice President, Brands and Shared Services.
- Dave Marr was named Global Brand Leader, Sheraton and Tribute Portfolio.
- Jim Petrus returned to the company as Global Brand Leader, St. Regis.
- Hoyt Harper was named Global Brand Leader, The Luxury Collection.
- Anthony Ingham was named Global Brand Leader, W Hotels Worldwide.
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