Week in review: SoftBank, Michaels, Boeing, and more!

Christian Wylonis · January 5, 2020
Week in review
Week in review

Uniqlo founder Tadashi Yanai stepped down from the board of SoftBank, Michaels hired a new CEO from Walmart and announced the departure of its CFO as part of an executive shuffle, and former Boeing general counsel and senior advisor to the board, J. Michael Luttig, announced that he would retire at the end of 2019.

Happy New Year! Every week we bring you an overview of the most important executive changes from around the world. This week, Uniqlo founder Tadashi Yanai stepped down from the board of SoftBank at a time when it is dealing with the fallout from the failed IPO of WeWork. Read more about this and other notable executive changes:

Uniqlo Founder Tadashi Yanai Steps Down from SoftBank Board

SoftBank announced that Tadashi Yanai, Japan’s richest person and the founder and CEO of Uniqlo’s parent company Fast Retailing, would step down from its board at the end of the year after 18 years. SoftBank said that Yani is stepping down so that he can focus more on his business. Read more here.

Michaels Hires Walmart Executive as New CEO

Michaels, the largest U.S. arts and crafts retailer, has hired a top e-commerce executive from Walmart, Ashley Buchanan, as its new president and CEO. Buchman will also join the company’s board of directors on January 6. He succeeds Mark Cosby who became Michael’s chief executive just over two months ago after serving on an interim basis since February. Read more here.

Former General Counsel of Boeing to Retire at Year End

Boeing’s former General Counsel. J. Michael Luttig, has informed the Board of his long-considered retirement at year end. Luttig served as Boeing's General Counsel from 2006 until becoming Senior Advisor in May 2019. The announcement follows the news earlier this week that Dennis Muilenburg has stepped down as CEO of Boeing. Read more here.

Avon CEO Jan Zijderveld Steps Down Upon Closing of Acquisition by Natura

Avon Products Inc. CEO Jan Zijderveld stepped down upon closing the sale of the company to Brazilian personal care and cosmetics company Natura & Co. on Friday. Natura agreed to buy Avon in May 2019 through a share swap that valued the over 130-year-old company’s equity at around $2 billion. Read more here.

Amit Walia Appointed Chief Executive Officer at Informatica

Informatica has named Amit Walia as new Chief Executive Officer succeeding Anil Chakravarthy who is stepping down to pursue other professional opportunities. Amit was most recently Informatica's President of Products and Marketing and has been an integral member of Informatica's leadership team since joining the Company in 2013. Read more here.

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