4 CEOs to Go in 2007
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It's not easy being at the top when your empire is crumbling.
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Jeff Raikes, the president of Microsoft&#39;s Business Division, plans to retire in September, the company said on Thursday.A Microsoft employee since 1981, Raikes oversees a broad stretch of the company&#39;s product line, including its Office, Dynamics, and Exchange software. Microsoft&#39;s Business Division generated about $16 billion in annual revenue last year, or slightly less than a third of the total.&quot;There is no overstating the incredible impact Jeff has had during his amazing career at Microsoft,&quot; CEO Steve Ballmer said in a statement.Raikes will be replaced by Stephen Elop, formerly the COO at Juniper Networks. Elop also did a stint as president of worldwide field operations at Adobe Systems following its acquisition of Macromedia, where he served as president and CEO.Elop will start at Microsoft at the end of this month and take over Raikes&#39; portfolio gradually, starting with the company&#39;s Information Worker, Business Solutions, and Unified Communications businesses.With Raikes set to retire, Bob Muglia, senior vice president of Microsoft&#39;s Server and Tools business, will now report directly to Ballmer, the company said.
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Executives at Walt Disney Co. (DIS.N: Quote, Profile, Research) will have some of their stock benefits subject to performance-based requirements as part of changes to its long-term
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Chief executives have been an embattled group lately. Bristol-Myers Squibb (BMY), Ford (F) and Viacom (VIA, VIA.B) each replaced their top executives in recent days.
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Turns out Citigroup (C ) CEO Charles Prince really is serious about cleaning house. On Oct. 19, he announced the departure of three top execs who bore operational responsibility for the regulatory shortcomings
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president effective December 28 after more than a year-long search. Knight, 66, who also will give up his title of president,. chairman,&quot; Knight said in a statement on Thursday.
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And what may be in store for the rest of 2007.
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You could say it&#39;s been quite a ride for Harley-Davidson&#39;s (HDI:NYSE - news - research) Jeffrey L. Bleustein. The motorcycle company said Thursday that Bleustein, 65, will retire as CEO, effective April 30, but continue as chairman.
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Give them credit, they&#39;re starting the CEO search with plenty of lead time. Early in the day on Aug. 18, Thomas F. Chapman, chairman and CEO of Equifax, stated his intention to retire sometime in late 2005, according to a company statement. While such an ...
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com. Colangelo was originally set to step down on Jan. 1, 2005, but decided to accelerate his timetable. CEO-elect Jeff Moorad, who was to take over in January, will instead begin as CEO on Oct. 15.
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Tough times continue at Sprint Nextel, as the company said Thursday that three of its top executives are on their way out.CFO Paul Saleh, Chief Marketing Officer (CMO) Tim Kelly, and President of Sales and Distribution Mark Angelino will leave the company on Friday, according to Sprint Nextel. It wasn&#39;t clear if the executives were leaving voluntarily or were being let go, and company spokeswoman Leigh Horner said in an e-mail that Sprint Nextel isn&#39;t &quot;commenting further or characterizing the nature of these departures.&quot;In a press statement, Sprint Nextel President and CEO Dan Hesse thanked the three for their &quot;dedication and contributions&quot; to the company, and wished them luck in future endeavors.Sprint Nextel is looking to replace the departing executives permanently, but in the meantime their duties are being handled by existing executives.William G. Arendt, currently senior vice president and controller of Sprint Nextel, will serve as acting CFO, while John Garcia, currently senior vice president, product development and management, will serve as acting CMO. Paget Alves, currently Sprint Nextel&#39;s regional president for sales and distribution, will serve as acting president, sales and distribution. All of these executives will report directly to Hesse.The news of the executive shake-up follows the announcement last week that&#160;Sprint would be laying off 4,000 employees and the close 125 of its 1,400 retail outlets&#160;due to the net loss of more than 100,000 customers in the fourth quarter of 2007. At the end of the year, Sprint said it had 53.8 million subscribers, including 40.8 million customers of its traditional post-paid service.The company plans to announce its full fourth-quarter results on Feb. 28.While Sprint struggles, rival carrier&#160;AT&amp;T seems to be doing better, thanks to its partnership as the&#160;exclusive service provider for Apple&#39;s iPhone&#160;device. AT&amp;T&#39;s revenue was up 2.9 percent in the fourth quarter of 2007, largely driven by increases in mobile phone and broadband customers, the company announced Thursday.AT&amp;T saw a net gain of 2.7 million mobile subscribers during the quarter, and most of them came to the company through its iPhone partnership, the company said. Apple said Tuesday it sold 2.3 million iPhones during the quarter.
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NEW YORK - Walt Disney Co.'s chief executive Michael Eisner will leave the giant entertainment company in 2006 when his contract expires, a newspaper reported Friday. Eisner's departure, expected to be announced Friday, would end a two-decade relationship with the media giant, according to a report in The Wall Street Journal...
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Many of Corporate Washington's executives and board members have side deals with the companies they oversee.
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NEW YORK - Walt Disney Co. chief executive officer Michael Eisner will leave the company in 2006 when his contract expires. Eisner&#39;s plan was announced Friday in a letter to the company&#39;s board of directors.
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Details from the candidates' fundraising reports for the fourth quarter of 2007:
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The PC maker navigated major transitions in the executive suite and its business model in 2007.
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The president of Verizon Communications, Lawrence T. Babbio Jr., will step down by the end of the first quarter of 2007.