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Will Boeing recover: 12 different CEOs?

Robert Kelly Ortberg, commonly known as Kelly Ortberg, is now Boeing’s fifth CEO in the last 20 years. Boeing has a rich tradition of selecting CEOs with engineering backgrounds, which has driven the company’s innovation and problem-solving capabilities throughout its history. However, in recent years, there has been criticism directed towards its recent leaders. These executives have focused primarily on maximizing profits by streamlining essential design and production processes, resulting in a significant reduction in the time needed to develop and launch new aircraft models.

For over a century, The Boeing Company (BA) has symbolized American excellence in the competitive global aerospace industry. You can explore Boeing’s extensive history, marked by both achievements and challenges, through a detailed timeline that documents the journeys of its 12 different CEOs, from founder William E. Boeing to the current leader Robert Kelly Ortberg. This timeline highlights pivotal moments in the company’s evolution and illustrates how each CEO has contributed to its legacy.

  1. Robert Kelly Ortberg: August 2024 to present
  2. David L. Calhoun: January 2020 to August 2024
  3. Dennis A. Muilenburg: July 2015 to December 2019
  4. W. James McNerney Jr.: July 2005 to July 2015
  5. Harry C. Stonecipher: December 2003 to March 2005
  6. Philip M. Condit: April 1996 to December 2003
  7. Frank A. Shrontz: April 1986 to April 1996
  8. Thornton A. Wilson: April 1969 to April 1986
  9. William M. Allen: September 1945 to April 1969
  10. Clairmont L. Egtvedt: September 1944 to September 1945
  11. Philip G. Johnson: September 1939 to September 1944
  12. Clairmont L. Egtvedt: September 1933 to September 1939
  13. Philip G. Johnson: February 1926 to August 1933
  14. William E. Boeing: July 1916 to February 1926

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CEOWORLD magazineLatestBanking and FinanceWill Boeing recover: 12 different CEOs?


Rakesh Thukral Named Edelman’s New Asia Pacific CEO as Warren Fernandez Transitions

Edelman has appointed Rakesh Thukral as its new CEO for the Asia Pacific (APAC) region following Warren Fernandez’s decision to step down to pursue a new opportunity. Fernandez will remain with Edelman until year-end to facilitate a smooth transition.

Thukral, currently Edelman’s APAC Chief Operating Officer and Managing Director of India, brings a long-standing tenure with the firm. His leadership has been instrumental in driving growth through client focus, talent development, and the diversification of Edelman’s specialties and services across its portfolio.

Ed Williams, Edelman’s President for International, expressed gratitude for Fernandez’s contributions, noting his regional and global leadership and his work in expanding Edelman’s APAC capabilities. Williams emphasized that Fernandez’s experience in the news and media sectors has been valuable for clients and wished him well in his next role.

Williams also highlighted the APAC region’s significance for Edelman and its clients, stressing that Thukral’s expertise in guiding global companies entering the Indian market—and supporting Indian businesses in their international expansion—would serve the firm well across the region. He added that Thukral’s understanding of APAC’s complex business, political, and societal landscapes would position Edelman for continued success.

Thukral will report to Williams, and his appointment is effective immediately.

Reflecting on his departure, Fernandez expressed gratitude for his time at Edelman and acknowledged the opportunity to work with talented colleagues. He shared that his new role would align closely with his longstanding interests in public policy and allow him to engage with significant political and geopolitical issues.

Thukral, commenting on his new role, noted that under Fernandez and Williams’ leadership, Edelman has built a strong, integrated reputation in Asia. He highlighted the firm’s achievements, including multiple recognitions at Cannes for Creative Effectiveness and PRovoke’s Global SABRE Awards for consecutive “#1 campaign in the World” titles. Thukral expressed eagerness to build on this momentum, collaborating with teams and clients to provide impactful solutions that drive growth amid complex global challenges.

 

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CEOWORLD magazineLatestBanking and FinanceRakesh Thukral Named Edelman’s New Asia Pacific CEO as Warren Fernandez Transitions


Schneider Electric Shakes Up Leadership Amid Strategic Shift and Record Growth

In a notable leadership transition, Schneider Electric SE has appointed company veteran Olivier Blum as its new Chief Executive Officer, succeeding Peter Herweck, who held the role for 18 months. The decision, made unanimously by the board, reflects a desire for strategic redirection at a time when the $152 billion French multinational faces both significant opportunities and challenges in the energy efficiency and electrical equipment sectors.

Previously leading Schneider Electric’s energy management division, Blum has been with the company for 30 years, holding roles such as Chief Human Resources Officer and Country President of Greater India, as well as serving on the Executive Committee since 2014. The board cited “divergences in the execution of the company roadmap” as the primary reason for Herweck’s removal, aiming for renewed focus under Blum’s leadership.

Schneider’s Chairman, Jean-Pascal Tricoire, expressed full confidence in Blum’s capacity to drive the company through what he described as a “new phase of focused acceleration.” Recent earnings support this vision, as Schneider Electric reported record revenue for Q3 2024, reaching $10.1 billion—a year-on-year increase of 8%. Growth was largely fueled by its Systems business and the energy management division, which reported strong demand for digital services in areas like digitization, artificial intelligence, and the energy transition.

Continuing its growth strategy, Schneider recently acquired Motivair Corporation, a U.S.-based leader in liquid cooling solutions for data centers—a market that Schneider anticipates will expand rapidly, especially in AI-driven environments.

Despite these positive developments, Schneider Electric faced a setback when the French Competition Authority issued fines totaling $511 million to Schneider, Legrand, and their distributors over alleged price-fixing practices. Schneider Electric was fined $225 million for actions spanning from 2012 to 2018, which the company contests, asserting that its distribution practices comply with competition laws. Schneider has indicated it may appeal the decision.

Following the news, Schneider Electric’s shares dropped by about 2% on Monday afternoon, reflecting investor caution amid the recent changes and regulatory scrutiny.

 

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CEOWORLD magazineLatestBanking and FinanceSchneider Electric Shakes Up Leadership Amid Strategic Shift and Record Growth


Estée Lauder Embarks on New Chapter with President & CEO Transition

The Estée Lauder Companies (ELC) has revealed that William Lauder will step down from his current role as Executive Chairman following the upcoming Annual Meeting of Stockholders, although he will remain Chair of the Board. The company also announced Stéphane de La Faverie’s appointment as President, Chief Executive Officer, and member of the Board, effective January 1, 2025.

Currently serving as Executive Group President, de La Faverie will succeed Fabrizio Freda, who, after a 16-year tenure, recently announced his decision to retire. Freda will stay on in the coming months to aid in a smooth transition. Upon assuming the role, de La Faverie will report directly to the Board.

William Lauder expressed confidence in de La Faverie’s industry expertise and collaborative approach, citing his understanding of the company’s heritage and his dedication to brand growth as qualities positioning him well for the role. Lauder also reflected on his years with Freda and conveyed pride in the company’s accomplishments, noting that his transition to focusing on the strategic direction of ELC marks an important evolution for the Lauder family. He affirmed the family’s ongoing commitment to ELC, emphasizing a perspective of long-term growth.

De La Faverie conveyed his enthusiasm about leading ELC and shared that he felt honored to continue building on the legacy of the company’s founder. He acknowledged the unique strengths of ELC’s heritage, brands, and talented teams, expressing eagerness to revitalize growth through innovation, consumer-focused strategies, and marketing excellence. He also extended gratitude to Freda for his leadership and support during the transition.

Bringing over 25 years of prestige beauty industry experience, de La Faverie has played a pivotal role in overseeing ELC’s portfolio, which includes Estée Lauder, Jo Malone London, The Ordinary, and Le Labo. Known for his focus on growth and operational efficiency, he has been integral to the company’s Profit Recovery and Growth Plan. Earlier in his career at ELC, he led the flagship Estée Lauder brand, introducing strategies that expanded its appeal, particularly among younger and Chinese consumers, through digital-first initiatives and data-driven marketing.

Charlene Barshefsky, Presiding Director of the Board, described de La Faverie as the transformative leader ELC needs, noting that he was the Board’s clear choice after a comprehensive succession planning process. She emphasized his combination of strategic vision, industry knowledge, and leadership ability as crucial for guiding ELC through current challenges and toward sustained growth.

Freda also voiced enthusiasm for de La Faverie’s appointment, expressing confidence in his capability to shape ELC’s future with his visionary leadership, brand-focused approach, and emphasis on enhancing consumer experiences.

With a broad understanding of global markets, de La Faverie has built strong relationships with key industry players, positioning him to lead ELC into its next strategic phase. Before joining ELC, he held leadership roles at L’Oréal, including General Manager of Giorgio Armani Beauty USA, and managed the Lancôme, Giorgio Armani, Ralph Lauren, and Biotherm brands in North America for L’Oréal’s Travel Retail division.

 

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CEOWORLD magazineLatestBanking and FinanceEstée Lauder Embarks on New Chapter with President & CEO Transition


Icona Capital Acquires Island In Maldives for an Ultra-Luxury Project

Icona Capital, a renowned alternative investment group, has made a landmark acquisition of a pristine island in the Maldives. This island, characterized by its untouched natural beauty, crystal-clear waters, and powdery white beaches, represents one of the most sought-after locations in the world for ultra-luxury developments. Positioned strategically near both the international Malé airport and the domestic Maamigili airport, the island offers unparalleled accessibility for international travelers, making it an ideal location for a high-end hospitality project.

This acquisition signifies Icona Capital’s bold strategy in the ultra-luxury hospitality sector, a market it had previously dominated through its success with Ultima Capital. Known for its expertise in identifying and developing top-tier investment opportunities, Icona Capital is looking to transform the island into an exclusive luxury destination that will set new standards in the global luxury hospitality market. The company’s strong track record of success, combined with its unwavering commitment to excellence, is a testament to the group’s ability to deliver exceptional results in high-stakes ventures.

Icona Capital’s decision to invest in this Maldivian island highlights its ambition to remain a leader in the ultra-luxury market. Max-Hervé George, Chairman and CEO of Icona Capital, expressed his enthusiasm for the project in a recent statement: “We are thrilled to announce the acquisition of this rare island in the Maldives. This investment aligns perfectly with our vision of creating unique and exceptional investment opportunities globally.”

Max-Hervé George is no stranger to success in the luxury sector. As the founder of Ultima Capital, a leading player in the ultra-luxury hospitality space, he spearheaded a series of high-profile developments that redefined luxury hospitality. Founded in 2013, Ultima Capital became a force to be reckoned with in the ultra-luxury market, offering exclusive properties that catered to the world’s wealthiest clientele. Under George’s leadership, the company went public in 2019, culminating in a successful IPO before being sold in 2023. George’s experience and vision have played a critical role in the development of Icona Capital’s strategy, and his passion for the hospitality and property development sectors continues to drive the company’s growth.

“Our goal is to continue reinventing the concept of luxury as we did with Ultima,” George added. His words hint at the potential for the Maldives project to break new ground in the luxury hospitality sector, offering an experience that exceeds the expectations of even the most discerning travelers.

The Maldives is one of the world’s most iconic luxury travel destinations, attracting affluent tourists with its stunning natural landscapes, exclusive resorts, and tranquil atmosphere. The country’s archipelago consists of over 1,000 islands, each offering its own unique appeal, from overwater villas to private beachfronts. The natural beauty and isolation of the Maldives make it a haven for those seeking privacy, relaxation, and exclusivity—key factors in the growing demand for ultra-luxury accommodations.

Icona Capital’s acquisition of this particular island comes at a time when the global luxury travel market is rebounding strongly following the challenges posed by the COVID-19 pandemic. With travel restrictions easing and demand for exclusive, secluded experiences on the rise, the Maldives presents a perfect opportunity for Icona Capital to expand its portfolio and tap into this lucrative market.

Additionally, the Maldives’ strategic location, excellent connectivity through international airports, and well-established tourism infrastructure make it an ideal setting for Icona Capital’s next flagship project. The proximity to both the international Malé airport and the domestic Maamigili airport ensures that visitors will have seamless access to the island, further enhancing the appeal of the destination for high-net-worth individuals and elite travelers.

Icona Capital has yet to unveil specific details about the development plans for the island, but there is little doubt that the project will reflect the group’s core values of excellence, innovation, and sustainability. Known for creating bespoke, world-class experiences, Icona Capital is expected to introduce a level of sophistication and luxury that will elevate the Maldivian hospitality market to new heights.

Drawing from its diverse experience in sectors like real estate, financial services, data centers, and credit, Icona Capital will apply its multidisciplinary approach to create a holistic luxury ecosystem on the island. While the focus will undoubtedly be on hospitality, there may also be opportunities for high-end real estate, private residences, and exclusive club memberships, further expanding the scope of the project.

Sustainability will likely play a crucial role in the development of this ultra-luxury resort. As the world increasingly shifts toward eco-conscious travel, luxury brands are under pressure to ensure that their developments have a minimal environmental impact. In recent years, the Maldives has become a focal point for sustainability efforts in the hospitality industry, with many resorts adopting practices such as coral reef preservation, renewable energy initiatives, and eco-friendly construction methods. Icona Capital’s reputation for forward-thinking investments suggests that the group will prioritize sustainability in the development process, ensuring that the project aligns with both environmental standards and luxury expectations.

Icona Capital, founded by Max-Hervé George, has a well-established reputation as a leader in alternative investments and entrepreneurial ventures. While the group’s portfolio spans various industries, including data centers, real estate, credit, and the financial sector, its roots in hospitality and property development run deep. Icona Capital’s success in these areas has been driven by its ability to identify high-potential opportunities and execute with precision, resulting in lucrative returns for its investors.

With its visionary leadership, dedication to excellence, and passion for innovation, Icona Capital is poised to deliver a project that will captivate the world’s elite and solidify its position as a leader in the ultra-luxury sector. All eyes will be on this Maldivian island as the group begins its journey toward creating an iconic destination that embodies the pinnacle of luxury living.


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CEOWORLD magazineLatestBanking and FinanceIcona Capital Acquires Island In Maldives for an Ultra-Luxury Project


Significant Decline for Olympus Shares as CEO Resigns

Shares of Japanese optics giant Olympus Corp. dropped significantly on Monday following the announcement that CEO Stefan Kaufmann had resigned due to a drug-related accusation. Data from LSEG showed that the company’s stock fell by 5.3% on the Tokyo Stock Exchange in response to the news. Despite the drop, Olympus shares have seen a strong 31.9% rise so far this year, surpassing Japan’s Nikkei 225 index, which has increased by 13.3%.

Olympus stated in a formal notice that it had received a report alleging Kaufmann’s involvement in purchasing illegal drugs. In coordination with external legal advisors, the company conducted an investigation, reported its findings to the authorities, and cooperated fully with their inquiries.

Following the investigation, Olympus’ Board of Directors concluded unanimously that Kaufmann’s actions likely conflicted with the company’s global code of conduct, core values, and corporate culture. Olympus indicated that Kaufmann, a 20-year veteran of the company, complied with the board’s request for his resignation. He had assumed the CEO position last April, tasked with advancing the firm’s medical equipment division after former CEO Yasuo Takeuchi moved to an executive chairman role.

In light of Kaufmann’s departure, Takeuchi will temporarily reassume his CEO responsibilities as Olympus searches for a permanent successor.

This incident is the latest in a series of controversies for Olympus. In 2011, the company was involved in a significant scandal after it admitted to using fraudulent accounting to mask investment losses over several decades—a situation brought to light by then-CEO Michael Woodford, a whistleblower who exposed the malpractice, resulting in guilty pleas from several former executives.

Japan’s stringent drug laws have created difficulties for foreign executives in the past. In 2015, an American executive at Toyota Motor Corp. resigned after her arrest on suspicion of importing the painkiller oxycodone, though she was later released without charges.

 

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CEOWORLD magazineLatestBanking and FinanceSignificant Decline for Olympus Shares as CEO Resigns


European CEOs are worried about Trump’s talk of tariffs.

European CEOs are showing heightened concern compared to their American counterparts regarding the potential impact of Donald Trump’s pledge to levy tariffs on all imports if he wins the White House again. Mentions of “tariff” on earnings conference calls in Europe have experienced a significant increase, surpassing the frequency of mentions on US earnings conference calls by a ratio of 5 to 2 in October.

The United States is the European Union’s largest trading partner, with total trade amounting to $960 billion in 2023, according to data compiled by CEOWORLD magazine. Investors, financial consultants, market strategists, economic advisors, and macro-market commentators consider a Trump victory the worst outcome for European equities due to his intention to restrict imports into the U.S. Potential tax increases under a Kamala Harris administration could give European stocks the upper hand. This is due to the fact that they would diminish S&P 500 company earnings, potentially reducing their appeal to global investors.

The resurgence of tariff talk is troubling for many European businesses.

In his rally speeches, Trump has been clear about his intention to impose tariffs of 10 percent or 20 percent on all countries, regardless of whether they are allies or not, if he is re-elected. He has specifically singled out Europe, particularly Germany’s car industry, as a target. His goal is not only to reduce America’s trade deficit by imposing significant tariffs on European goods, but also to dismantle European industry and pressure companies to move their factories to the U.S.


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CEOWORLD magazineLatestBanking and FinanceEuropean CEOs are worried about Trump’s talk of tariffs.


New Leadership at APCOA as Nicola Veratelli Steps In as CEO

European parking management leader APCOA has named Nicola Veratelli as its new Chief Executive Officer, taking over from Bert Pijls, who has served as interim Executive Chairman since June 2024. Pijls will now transition back to his position as Chairman of the Board. Veratelli is set to officially step into the CEO role on December 1, 2024.

Expressing his confidence in Veratelli’s expertise, Pijls highlighted that Veratelli’s substantial background in operational management, technology transformation, and strategy execution aligns well with APCOA’s technology-focused growth plans. He noted that Veratelli’s leadership will greatly enhance APCOA’s trajectory.

Veratelli, who previously held the CEO position at OCTO Telematics and brings experience from leadership roles with international firms like Hertz International, emphasized his enthusiasm for APCOA’s future. He conveyed eagerness to drive the company’s next phase of development, capitalizing on APCOA’s market strength and growth potential.

 

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CEOWORLD magazineLatestBanking and FinanceNew Leadership at APCOA as Nicola Veratelli Steps In as CEO


Seafrigo Group Appoints New CEO, Sets Sights on Global Expansion

Seafrigo Group, a leading player in cool-chain food logistics, has announced the appointment of Bruno Plantaz as its new Group Chief Executive Officer. Company founder Eric Barbé, who will now serve as President, is set to collaborate with Plantaz as they execute the company’s ambitious global growth agenda.

Bringing over 20 years of international experience in freight forwarding and contract logistics, Plantaz has held senior roles across Europe, the Middle East, and Asia with CEVA Logistics and Kuehne & Nagel. In his new position, he will guide Seafrigo’s global operations and shape its organizational structure to support long-term expansion.

Plantaz described Seafrigo as a “sparkling diamond” poised for growth. He emphasized the company’s unique customer focus and entrepreneurial drive and expressed enthusiasm about working alongside Barbé, whose exceptional business development expertise he noted with appreciation. Plantaz underscored plans to expand Seafrigo’s services to new regions, with a specific aim of broadening the company’s reach across multiple continents.

The groundwork has already been laid for Seafrigo’s impending international expansion, with plans to extend its refrigerated services to new markets across Europe, the Americas, the Middle East, and Asia. Several strategic announcements are anticipated in the coming months.

Operating from its new global headquarters in Le Havre, France, Seafrigo Group has established a worldwide network within the refrigerated logistics sector. With infrastructure across 32 countries, the company’s 2,500 dedicated employees manage the international transport of goods across five continents.

 

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CEOWORLD magazineLatestBanking and FinanceSeafrigo Group Appoints New CEO, Sets Sights on Global Expansion


Stepping into Global Waters: Ionpolis Eyes Southeast Asia at K-Expo

Ionpolis Co., Ltd., a leading innovator in filter showerhead technology, is set to participate in the K-Expo from November 14th to 17th at the Sheraton Grand Gandaria City Hotel in Jakarta, Indonesia. This event, designed to spotlight exceptional Korean products and technology, serves as a springboard for Korean companies aiming to penetrate international markets, particularly within Southeast Asia.

Ionpolis plans to use this platform to accelerate its expansion into the Southeast Asian market. The company’s CEO, Hwang Kyu-jin, noted that consumer interest in health-conscious water solutions is rising across Southeast Asia, including Indonesia, creating promising demand for Ionpolis’s advanced filter showerheads. He highlighted the event’s role in showcasing Ionpolis’s technology on a global stage and in building connections with key regional partners.

Among the products on display will be Ionpolis’s newest filter showerheads, tailored to meet diverse customer needs and designed to effectively remove impurities from tap water. Hwang Kyu-jin underscored the technology’s environmental benefits and cutting-edge features, which he believes strengthen Ionpolis’s competitiveness in the global market.

With an established reputation in South Korea, Ionpolis now aims to expand its influence abroad. According to Hwang, the company intends to leverage its technological foundation and domestic customer trust to achieve a significant breakthrough in Southeast Asia. He added that, at this expo, the team will focus on forming strategic partnerships with local buyers and adapting their product offerings to suit the Indonesian market’s preferences and needs.

CEO Hwang considers the K-Expo a pivotal moment for advancing Ionpolis’s international presence, particularly across Southeast Asia. He expressed confidence that the region’s potential aligns well with Ionpolis’s products and that local consumers will embrace their value.

K-Expo, an international trade event known for its showcase of innovative Korean products, annually attracts numerous global buyers. Through its participation, Ionpolis aims to not only highlight its filter showerhead lineup but also lay the foundation for its emergence as a recognized global brand.

Reflecting on this opportunity, Hwang noted that the event provides an essential step toward achieving Ionpolis’s vision in the international market. He reaffirmed the company’s commitment to innovation and quality improvement, aiming to establish Ionpolis as a trusted name worldwide. With its global strategy and the CEO’s direction, Ionpolis looks forward to advancing its position in the expanding filter showerhead industry.

 

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CEOWORLD magazineLatestBanking and FinanceStepping into Global Waters: Ionpolis Eyes Southeast Asia at K-Expo