The 10 Most Important Executive Moves This Week
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This week, the CEO of TikTok's parent company hands the reins to his college roommate, an Uber exec will lead Golman Sachs' consumer push, and WarnerMedia's CEO plots his exit.
This week, the CEO of TikTok's parent company hands the reins to his college roommate, an Uber exec will lead Golman Sachs' consumer push, and WarnerMedia's CEO plots his exit.
These are our top picks for the most important executive appointments and departures this week. For executive news updated daily, check out The Org's People on The Move.
1. ByteDance’s Founder Steps Away From Day-To-Day Oversight
Zhang Yiming, the founder and CEO ByteDance, has announced that he will relinquish his position as CEO to his college roommate and company co-founder Liang Rubo. The transition at the top of TikTok’s parent company won’t be immediate and is expected to take place by the end of the year.
2. JPMorgan Chase Promotes Two Women to Lead the Largest US Consumer Bank
JPMorgan Chase has named Marianne Lake and Jennifer Piepszak to lead its consumer finance unit, the bank’s largest division. Lake, who most recently served as the bank’s CEO of Consumer Lending, and Piepszak, the company’s current CFO, will take the reins from Gordon Smith, who will retire at the end of the year.
3. Goldman Sachs Pulls Uber Exec to Run Consumer Banking
Goldman Sachs announced that Uber’s VP of Technology, Peeyush Nahar, will join the bank as a partner and Global Head of the Consumer Business, effective June 1. Nahar replaces Omer Ismail, who left Goldman Sachs in February to run Walmart’s new fintech startup.
4. Morgan Stanley Unveils Massive Executive Overhaul as Succession Race Heats Up
Morgan Stanley has announced that Ted Pick and Andy Saperstein have been named Co-Presidents of the Wall Street bank, effective on June 1, 2021. The duo's promotion has led many to belive they are being groomed as CEO JamesGorman's potential replacments.
5. Sidelined: WarnerMedia CEO Jason Kilar Makes Exit Plans
WarnerMedia CEO Jason Kilar is negotiating his departure after being kept in the dark about AT&T and Discovery’s merger. David Zaslav, Discovery’s Chief Executive and an experienced leader in the entertainment business, will replace Kilar as WarnerMedia’s new CEO.
6. CVS Health Names Former Aetna Exec as CFO
CVS Health, the healthcare company behind CVS Pharmacy, CVS Caremark, and insurance provider Aetna, has picked former Aetna CFO Shawn Guertin as its new EVP and CFO, effective May 28, 2021.
7. JetBlue Picks a New Finance Chief to Guide COVID Comeback
Ursula Hurley has been promoted for the second time this year, this time it’s to the c-suite. JetBlue has named the 17-year company veteran as its new Chief Financial Officer, just a month after she was upped to Head of Treasury and Investor Relations.
8. Andreessen Horowitz Promotes Chris Lyons to General Partner
Venture capital firm Andreessen Horowitz announced it has promoted Chris Lyons to General Partner. Lyons first joined a16z in 2013 as chief of staff to co-founder Ben Horowitz before launching the Cultural Leadership Fund (CLF) in 2018.
9. Bed Bath & Beyond Lures An Accounting Chief From Tiffany
Bed Bath & Beyond has announced that John Barresi will join the company on June 7 from Tiffany & Co. to serve as its first SVP of Finance and Chief Accounting Officer. Barresi joins Tiffany & Co., where he oversaw a multi-year effort to modernize the company's business processes and information systems as its VP of Global Business Transformation.
10. Hershey Promotes New Top Lawyer After Abrupt Departure
The Hershey Company has made the sudden announcement that it has upped James Turoff to SVP, General Counsel, and Secretary. The appointment fills the chocolate giant’s top legal role following the shock departure of former General Counsel Damien Atkins in December 2020.
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