From the Wall Street Journal | Gerry Davis, managing partner for global practices at Heidrick & Struggles International, is the latest executive to leave the search firm.
Filed under: Chicago executives
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June 28, 2010 at 6:07 p.m.
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Filed under: Banking, Consulting, Government, Personnel moves Herencia leaves Midwest Banc Holdings payroll
Roberto R. Herencia has left Midwest Banc Holdings Inc., whose Midwest Bank unit failed last month, but has signed a consulting agreement that could pay him $25,000 a month.
In May, Midwest Bank, a $3.17 billion-asset lender that was among the first community banks to get federal bailout funds, was seized by regulators after failing to raise capital it needed to stay independent. Get the full story »
Lotus seeks advice from GM’s Lutz, BMW’s Purves
From Automotive News | Lotus Cars reportedly has talked to former GM product chief Bob Lutz and retired BMW executive Tom Purves about advising on its five-year plan.
Trades that sent Boeing down 44% canceled
From Bloomberg News | Erroneous orders to trade Boeing Co. shares sent shares in the Chicago-based aerospace company down 44 percent to $38.77 this morning. NYSE Euronext and Nasdaq OMX Group Inc. canceled trades.
Alison True out as Chicago Reader editor
Alison True, who started in the mailroom of the Chicago Reader in 1984, is out as its editor. True had been the Reader’s editor for 15 1/2 years and guided the free weekly through traumatic budget squeezes, trying to retain its essence despite ownership changes and diminished resources that required her to cut loose many of the paper’s best writers.
WGN Radio cuts Steve Cochran loose
Steve Cochran, who was hanging by a thread as midday host of WGN-AM 720, finally was cut loose by management at Chicago Tribune parent Tribune Co.’s radio station after he finished his program on Friday.
June 25, 2010 at 1:12 p.m.
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Filed under: Agriculture/Farming, Chicago executives, Government, Markets Derivative probe promised in dairy volatility
Multiple U.S. regulators are examining the role of derivative markets run by CME Group (CME) in fostering volatility in dairy prices, Assistant Atty. Gen. Christine Varney said Friday.
Dairy farmers have long blamed the derivatives markets for distorting prices and are becoming increasingly vocal about the effect of big retailers on competition in the sector. Get the full story »
June 25, 2010 at 10:46 a.m.
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Filed under: Chicago executives, Food, Management, Restaurants Head of Flat Out Crazy looks to expand chain
From Restaurant News | Greg Carey, president and chief operating officer of Chicago-based Flat Out Crazy Restaurant Group, says his company plans to start growing again over the next 18 months and has secured $8 million from U.S. Bank and HillStreet Fund IV to do it. The company owns Rainforest Cafe and P.F. Chang’s China Bistro, and is now targeting Texas, the Rocky Mountain states and the mid-Atlantic region for developing about six Stir Crazy casual-dining restaurants and about nine fast-casual Flat Top Grills, where guests create their own stir-frys.
Hostess picks Kraft executive as next CEO
From The Dallas Morning News | Kraft Foods executive Brian J. Driscoll, the president of sales, customer service and logistics, has been hired by Hostess Brands Inc. to be its chief executive officer.
Supreme Court sides with Conrad Black, Skilling
Former media baron Conrad Black scored a victory at the U.S. Supreme Court Thursday, but the ruling does not vindicate him.
Black, the former chief executive of Hollinger International Inc., which owned the Chicago Sun-Times, is serving a 78-month prison sentence.
The high court cast doubt on his 2007 fraud conviction related to $5.5 million in unauthorized bonuses he and three senior executives took from Hollinger. In addition to violating conventional mail and wire-fraud laws, Black and other Hollinger executives, prosecutors charged, cheated shareholders of “their intangible right to honest services of the corporate officers.” Get the full story »
June 24, 2010 at 9:51 a.m.
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Filed under: Chicago executives, Technology, Telecommunications, Wireless Motorola hires HR exec at mobile devices unit
Motorola Inc. has hired a new senior vice president of human resources for its mobile devices and home business, which is scheduled to be separated from the rest of the company in the first quarter of 2011.
Scott Crum will take up his new position on July 19, the company said in a press release. Motorola co-Chief Executive Sanjay Jha, who heads the mobile devices business, has been building his team in advance of the planned split. Last week, the company announced it had hired a corporate vice president of strategy for mobile devices and home. Get the full story »
Chicago Tribune Media Group promotes two execs
The Chicago Tribune Media Group, the Tribune Co. division that includes the Chicago Tribune, on Wednesday announced the promotion of newsroom executives Joycelyn Winnecke and Jane Hirt.
Chicago Tribune Editor Gerould Kern, a senior vice president, said in a memo to staff that Associate Editor Winnecke and Managing Editor Hirt each are adding the title of vice president after 22 months in their current posts in recognition of “their exceptional accomplishments and growing responsibility for the company.” Get the full story »
U.S. CEOs’ view of economy at 4-year high
U.S. chief executives’ view of the economy reached a four-year high in the second quarter, with more planning to add jobs over the next six months, according to a Business Roundtable survey. Some 39 percent of corporate chiefs expect to increase their companies’ U.S. head count over the rest of this year, more than the 17 percent who plan to cut it, the survey released Wednesday found. Get the full story »
June 18, 2010 at 4:02 p.m.
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Filed under: Chicago executives, Energy, Environment, Policy, Politics Embattled BP CEO removed from spill oversight
BP removed Chief Executive Tony Hayward from day-to-day oversight of the Gulf oil spill crisis a day after he was pummeled by lawmakers in an appearance on Capitol Hill, the company’s chairman said Friday.
Carl-Henric Svanberg told Britain’s Sky News television that Hayward “is now handing over the operations, the daily operations to [BP Managing Director] Bob Dudley,” overshadowing news that after many setbacks BP was finally making real progress in siponing and burning off oil from the underwater gusher. Get the full story »
Borders CFO takes chief operating officer job
Borders Group Inc. Chief Financial Officer Mark Bierley is taking on the additional role of chief operating officer, the latest change to the U.S. bookseller’s upper management ranks. Bierley, who joined Borders in 1996 and became CFO last year, will oversee Borders’ information technology, supply chain management, strategic planning and other duties, the company said Friday. Get the full story »
