Colfax CEO leaves for ESAB, new CEO named
Posted on Tuesday, April 24th, 2012 at 9:13 pm
Colfax’s president and CEO Clay Kiefaber, 56, has left the company in order to serve as chief executive officer of ESAB, a welding and cutting business acquired by Colfax in January. The acquisition of ESAB nearly tripled Colfax’s total business and increased its total revenue to $4 billion.
Steven Simms, also 56, was named as the new CEO of Colfax. Simms currently serves as director on Colfax’s board. With over 20 years of senior executive experience, Simms was executive vice president of Danaher Corp. for 11 years and previously worked at Black & Decker Corp. as president of its European operations.
Kiefaber was named CEO of Colfax in 2010 after spending 20 years at Masco Corp. He will remain company director and executive vice president of Colfax.
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CEO of Highmark fired after assault charges
Posted on Tuesday, April 3rd, 2012 at 7:07 pm
President and CEO of Highmark Inc., Pennsylvania’s largest health insurer, was fired last week after he was charged with misdemeanor simple assault and misdemeanor criminal trespassing. Kenneth R. Melani, 58, had held the position of CEO and president of Highmark, Inc. since 2003.
According to police, Melani was involved in a fist fight with his mistress’ estranged husband and reportedly said he would have killed them both if the police were not there. Over the weekend, the company’s board of directors decided to terminate Melani due to his actions.
Highmark’s board chairman, J. Robert Baum, was the acting CEO while Melani was on unpaid leave following his arrest. Highmark has not announced who will take over as president and CEO.
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Pepsi may be looking for new CEO, Nooyi expected to step down
Posted on Monday, March 12th, 2012 at 5:19 pm
PepsiCo may be in the process of looking for a new CEO after analysts suspect that current CEO Indra Nooyi will step down amid investor discontent.
The second-largest soda maker has rehired Brian Cornell, a former executive, as CEO of PepsiCo Americas Foods, which includes businesses Frito-Lay and Quaker. Cornell is the former CEO of Wal-Mart Stores’ Sam’s Club and Michael’s, as well as executive vice president of Safeway. Before leaving Pepsi in 2004, he was the president of its Tropicana brand.
Cornell is taking over the position of John Compton, who has been named president and will now go on to oversee Pepsi’s global operations and marketing.
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