Inside these posts: Executive changes

Visit our Filed page for categories. To browse by specific topic, see our Inside page. For a list of companies covered on this site, visit our Companies page.


Berkshire’s Sokol quits after stock purchases in takeover target

Former Berkshire Hathaway executive David Sokol, pictured here in 2009, said he did nothing wrong in buying stock in a company that he then suggested Berkshire acquire. (Reuters/Lucas Jackson)

The man widely seen as the leading successor to Warren Buffett at Berkshire Hathaway has resigned after buying shares in chemical company Lubrizol Corp before pushing Buffett to acquire it.

David Sokol’s resignation is a reputational blow for Buffett, the 80-year-old “Oracle of Omaha,” who prides himself on his folksy fair-dealing image and handpicks managers who can run businesses in a similarly transparent manner. Get the full story »

Busch IV to end directorship at AB InBev

August Busch IV in 2006. (E. Jason Wambsgans/Chicago Tribune)

August Busch IV will step down as a director of Anheuser-Busch InBev next month, ending his family’s direct involvement with the world’s largest brewer.

“For personal and health reasons August Busch IV has decided not to seek re-election at the annual shareholders meeting,” Anheuser spokeswoman Marianne Amssoms said in an emailed statement. Get the full story »

Orbitz names replacements for outgoing directors

Online travel company Orbitz Worldwide Inc. said Friday that it named Robert Friedman and Kristina Leslie to its board in the wake of resignations from directors Paul Schorr IV and William Cobb. Get the full story »

Sun-Times Media CEO Halbreich to be chairman

The investors in Sun-Times Media Holdings have elected Jeremy Halbreich successor to the late James Tyree as chairman.

ADM chooses Dow Chemical exec to be COO

Agribusiness conglomerate Archer Daniels Midland Co. announced Monday that Dow Chemical executive Juan Luciano will be its new executive vice president and chief operating officer. Get the full story »

Ex-CBOT chief joins board of NYSE’s clearinghouse

Bernard Dan, who headed the Chicago Board of Trade until its 2007 takeover by CME Group Inc., will help guide NYSE Euronext’s co-owned clearinghouse as it takes on the CME later this month.

Dan, currently president of Chicago-based trading firm Sun Holdings LLC, joined the board of New York Portfolio Clearing as an independent director, the clearinghouse said Wednesday. Get the full story »

Hospira taps Allergan president as new CEO

F. Michael (Mike) Ball.

Hospira Inc. has named F. Michael Ball, president of Botox maker Allergan Inc., as its next top executive, succeeding the only CEO the Lake Forest-based maker of generic injectable drugs has had since it was spun off from Abbott Laboratories.

Ball, 55, will Hospira become chief executive March 28, replacing Christopher Begley, who will retire after nearly seven years in the top job, the company announced late Monday. Hospira was spun off as a public company from North Chicago-based Abbott Laboratories in 2004. Get the full story »

Heidrick & Struggles CFO retiring to get Ph.D

Heidrick & Struggles International Inc. said Wednesday that Chief Financial Officer Scott Krenz is retiring after three years with the company to pursue a PhD in history.

The Chicago-based executive-search firm said Krenz, 59, will depart after the company files its 2010 annual report and completes the first quarter ending March 31. Get the full story »

Kronos Foods picks new president

Kronos Foods Corp., the Glendale Heights-based manufacturer of gyros and other Mediterranean foods, has appointed Howard Eirinberg as president, a newly-created position, effective immediately. Kronos is a subsidiary of Kronos Foods Inc.

Eirinberg, 51, was previously president and COO of Chicago-based Vienna Beef, Ltd. In eight years with the company, he is credited with the developing new products, introducing them into new channels, and building the company’s brand awareness. Get the full story »

Sears chooses new head of major business unit

Sears Holdings Corp. has named company executive Scott Freidheim executive vice president and president for Kenmore, Craftsman and DieHard — key brands for the retailer. The move comes after several other key personnel announcements at Hoffman Estates-based Sears, including a new chief of home fashions and another for grocery and pharmacy. Get the full story »

Wal-Mart names Walmart U.S. merchandising chief

Wal-Mart Stores named a longtime grocery executive as the chief merchandising officer for its U.S. discount stores Friday, filling the post that had been vacant since John Fleming left the role last year. Get the full story »

Shares dip as CVS speeds CEO succession

CVS Caremark Corp. said Monday that Larry Merlo will take the reins as the drugstore chain operator’s chief executive in March, two months earlier than expected.

Merlo, who is CVS’ chief operating officer, will become CEO March 1, replacing Thomas Ryan. He had been expected to become CEO in May, according to a succession plan laid out last year. The company did not explain why Merlo’s start date had been moved up. Get the full story »

Motorola Mobility names Nike executive to board

Motorola Mobility Holdings Inc., the newly independent cell phone and set-top box business of the former Motorola Inc., appointed Nike Inc. executive Jeanne P. Jackson to its board Thursday. Get the full story »

Boeing names Hammonds chief information officer

Chicago-based Boeing Company has named Kim Hammonds as chief information officer and vice president of its information technology organization.

Hammonds succeeds John Hinshaw, who is becoming vice president and general manager of the new information solutions unit in Boeing Defense, Space & Security. She’ll be responsible for all IT strategy, systems, infrastructure, architecture, processes and people companywide.

PepsiCo chooses new head of Quaker Foods unit

Quaker Foods and Snacks North America, the Chicago-based division of PepsiCo, has tapped Jose Luis Prado as its new president.

Prado replaces Jaya Kumar, who will lead PepsiCo’s Global Nutrition Group, which is based in Chicago. Kumar served as president of Quaker for one year. Before that, he was senior vice president and chief marketing officer of Frito-Lay. Get the full story »