Martin Sorrell resigns as CEO from WPP
CEO and founder of advertising giant WPP, Martin Sorrell, has resigned from his post. Martin, who founded WPP 33 years ago, resigned with immediate effect on Saturday amid an investigation into allegations of personal misconduct. Chairman Roberto Quarta will become executive chairman until a new chief executive has been appointed.
In a statement, WPP said: “The previously announced investigation into an allegation of misconduct against Sir Martin has concluded. The allegation did not involve amounts that are material.”
LSE names David Schwimmer CEO
London Stock Exchange Group announced that have appointed David Schwimmer as CEO, effective April 2018. He will join the group on 1 August as a member of the board of directors. Schwimmer has extensive experience in the financial infrastructure sector and has been closely involved with market technology throughout his investment banking career. About his appointment, Schwimmer said: “It is an honour and privilege to be asked to lead London Stock Exchange Group.”
Cambridge Analytica’s interim CEO resigns
Data company Cambridge Analytica announced that its acting CEO, Alexander Tayler, is stepping down from the position after a scandal around data privacy of Facebook users. Tayler stated that he will resume his former position as chief data officer. Julian Wheatland, the chairman of Cambridge Analytica’s British affiliate, would take over as the next chief executive.
Cambridge Analytica’s board of directors released a statement where they spoke about the resignation and said: “We would like to thank Dr Tayler for his service in what has been a challenging time for the company.”
New director joins Port of Tyne
Port of Tyne has announced the appointment of Mark Stoner as its new chief financial officer. Prior to joining the Port of Tyne, Stoner had served as group CFO at Comunisis. He has also held senior positions at companies such as Rolls Royce Industrial Power Group, Siemens Microelectronics, KPMG, and Atmel North Tyneside.
Speaking about his appointment, Stoner said: “I am looking forward to helping to ensure the Port of Tyne continues to identify opportunities to grow in order that we fulfil our mission of continuing to contribute to the growth of the UK economy, and to hand on the port in a better condition to future generations.”
Andrew Moffat, Port of Tyne’s CEO, added: “Mark has extensive experience that will strengthen the board and management team and support the delivery of the business’s strategic objectives.”
Nakama CFO resigns as Australian tax difficulties mount
Nakama CFO, Angus Watson has resigned from his position and will step down from the post, effective immediately. He will help the group with finding a replacement. After a strategic review of the company by Nakama CEO, Andrea Williams, the firm’s board of directors has confirmed that Nakama’s Australian subsidiaries will not be able to make a payment to the Australian Tax Office, due this month.
Indigo Software promotes COO to CEO
Indigo Software has promoted Darren Baxter, its former COO, to the role of new group CEO. The move comes after Indigo appointed Tony Sweeney as a non-executive chairman. In his new role, Baxter will be responsible for Indigo’s global business operations and will be supported by CFO Bill Ginn, CEO for Asia Pacific Mike Leavy and more. Baxter joined the company in 1988 as a software developer and has held a number of technical and management roles at Indigo since then.
About the appointment, non-executive chairman Tony Sweeny, said: “I’ll be working closely with Darren and the team, bringing executive management skills and an external perspective, adding value as a voice from outside the business culture.”
Air Partner finance chief quits
Neil Morris, the chief financial officer at aviation group Air Partner, resigned with immediate effect on the 12 April 2018. The reason for his resignation is the loss of £3.3m in share prices because of issues in their payment systems. Air Partner is currently looking for an interim chief financial officer and will also attempt to fill out the position permanently, if possible.
WISeKey appoints Jean-Pierre Pennacino as COO
Data protection platform WISeKey International Holding has recruited Jean Pierre Pennacino as its new chief operating officer. Pennacino, who has over 20 years of experience in finance and process improvement, will be overseeing all the overall operations at WiSeKey and will be in direct correspondence with the CEO. He has extensive experience, having worked with companies such as Motorola Semiconductor, STMicroelectronics and Gemplus.
Simon Webb appointed group CFO by Low & Bonar
Simon Webb has been appointed as the group CFO of building material firm Low & Bonar. Prior to this role, he served as the group finance director at Devro and deputy CFO at Enodis. He has also undertaken several senior positions at companies such Paxar Corporation and British American Tobacco. Martin Flower, chairman of Low & Bonar, said: “Simon has strong financial, commercial and operational experience of relevance to his new role at Low & Bonar. We are delighted to welcome him to the board, and we look forward to working with him as we drive forward our strategy of ongoing operational improvement and profitable growth.”
Zenith Energy name Austalia-based COO
Zenith Energy has selected Tom Terris as its new chief operating officer for its Australian base. Terris will manage the area of well management and consultancy projects. Prior to joining, Terris served as vice president regional manager for AGR in Perth. Martin Booth, managing director of Zenith Energy, said: “Tom has a wealth of industry knowledge and management experience after working in the sector for a number of years on high profile jobs. His appointment is instrumental as the company continues to grow internationally.”
Marsh names new CEO for UK and Ireland
Insurance broker Marsh Ireland & UK has announced the appointment of Chris Lay as its new CEO. Prior to becoming the CEO of Marsh Ireland & UK, Lay led the company’s Canada division as its chief executive officer. He has spent 30 years with the company and has held a host of senior roles – including president of global captive solutions, head of global sales and business development leader for Marsh International.
Marsh International president, Flavio Piccolomini, said: “With a long track record of success working with companies of all sizes around the world, Chris is the ideal leader to further build our client offering in the UK & Ireland.”