Executive Moves

Global commodities giant Trafigura has announced the appointment of Richard Holtum as its next Chief Executive Officer, effective January 1, 2025. Holtum, currently head of Trafigura’s gas, power, and renewables business, will replace Jeremy Weir, who will assume the role of Chairman. 

Organizations are constantly evolving to stay competitive in today's fast-paced business landscape. One of the most significant contributors to long-term success is the development of strong leadership within a company. 

Nadav Shoval, founder of OpenWeb, is resisting his replacement as CEO by Tim Harvey following a controversial board decision. The power struggle erupted publicly in September 2024, raising concerns and sowing confusion about corporate governance at the Israeli-based unicorn.

In a significant leadership change, Starbucks has announced that Brian Niccol, the current Chairman and CEO of Chipotle, will take over as its new Chairman and CEO, effective September 9, 2024. This move comes as Laxman Narasimhan steps down from his role after a challenging tenure that saw the coffee giant face declining sales and increasing pressure from activist investors.

Arch Insurance International has announced the appointment of Marie Penberthy as its new Chief Financial Officer (CFO), pending regulatory approval. Penberthy takes over from Kurt Kittinger, who has held the position since 2020. This strategic appointment is seen as a move to enhance the company’s financial management and support its ambitious growth plans.

CIM Group has announced a significant expansion in its European footprint through a strategic partnership with Michael Bickford to establish Round Hill Capital Ventures. This newly formed investment platform is set to manage a $2.1 billion portfolio, focusing predominantly on high-quality investment and development real estate in Europe.

Centrica plc, the FTSE-100 energy giant, announced today that Scott Wheway will step down as Chairman of the company on December 16, 2024, after nearly nine years on the Board and five years as Chairman. Kevin O'Byrne, the current Senior Independent Director, will succeed Wheway as Chair.