On New Year’s Day, several well-known organizations will officially welcome a new CEO into the position.
Business succession planning can be a turbulent process, but a company’s new leadership has a clear opportunity to get started right away in the new year when the calendar turns around.
With effect from January 1, 2024, several well-known corporations will have new chief executives, including Sherwin-Williams, Morgan Stanley, and Krispy Kreme. Take a peek at these three recently appointed CEOs.
Krispy Kreme
Krispy Kreme, a well-known doughnut chain, has appointed Josh Charlesworth as its new CEO and president. As part of Krispy Kreme’s succession plan, Charlesworth succeeds Michael Tattersfield, who led the firm as CEO from 2017 until 2023 and will continue to serve as a senior consultant and brand ambassador on the board.
In a news release, Tattersfield stated that he “couldn’t be happier to hand over the CEO post to Josh” and continued, saying, “Transforming the Krispy Kreme brand and culture has been a highlight of my career.
I am grateful for our fantastic Krispy Kremers who inspire me even now. Josh’s enthusiasm for the brand, our Krispy Kremers, and our insanely delicious doughnuts makes me extremely confident in our ongoing success, and I can’t wait to see what he does.”
Charlesworth became a member of Krispy Kreme in 2017 and most recently held the positions of chief operating officer and global president. He was chief financial officer of Krispy Kreme before. “Together, we will continue to make fantastic, fresh doughnuts conveniently available to more and more consumers around the world,” he said, adding that leading Krispy Kreme is “both an honor and a privilege.”
Morgan Stanley
Edward “Ted” Pick, a co-president of financial services and investment banking behemoth Morgan Stanley, will take over as CEO on January 1st and become a member of the company’s board of directors. Pick takes over as CEO of Morgan Stanley after James Gorman announced his intention to retire at the company’s 2023 annual general shareholder meeting.
Gorman began working for Morgan Stanley in 2006. On January 1, 2010, he was promoted to CEO, and he will now serve as executive chairman. He collaborated with the board for several years to facilitate a smooth transition, and he stated in a news statement that the board’s “selection of Ted Pick is an outstanding one.”
“Morgan Stanley is a storied institution, and I am deeply honored to have been chosen to lead it,” Pick stated. He continued, “Thanks to James’ excellent leadership, our firm is now well-positioned to succeed across market cycles, and I am excited about the opportunities for future growth.”
Williams, Sherwin
With effect from January 1, 2024, Sherwin-Williams, a pioneer in the production, development, marketing, and retailing of paint and coatings, announced Heidi Petz as its next CEO. Petz joined the company in 2017 after Sherwin-Williams acquired Valspar, and he has been its president and chief operating officer for the past two years.
Petz will continue to hold the position of president while taking over as CEO from John Morikis. Morikis took over as CEO of Sherwin-Williams in 2016 and will stay on as executive chairman of the business.
Regarding his replacement, Morikis stated, “Heidi has shown to be a great asset to my leadership team, consistently fostering development and achieving operational excellence, which has resulted in enhanced value for our shareholders, customers, and staff. Heidi’s move makes her just the tenth CEO in the 157-year history of the business.”