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Ford Appoints Suzy Deering Global Chief Marketing Officer

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Ford is hiring a dedicated head of Global Marketing to help execute its plan to unlock customer and company value, and its senior product quality and new-vehicle launch executive will soon close her exceptional career with the company.

Suzy Deering will join Ford as global chief marketing officer on Jan. 4, following five-plus years as worldwide and North America CMO at eBay.  Deering will succeed Joy Falotico as Ford CMO.  The company previously announced that Falotico will be dedicated solely to her role as president of the Lincoln Motor Company, Ford’s rapidly growing and strategically important luxury vehicle brand.  She has been managing both areas for the past three years.

Suzy Deering

Deering is accomplished at using technology, data and analytics to anticipate customer needs and fulfill them with human-centered products and services.  At Ford, she will be the global leader for modernizing marketing, driving brand strategy and best practices, and developing marketing talent.  Additionally, she will run all marketing operations in North America, which accounts for more than 70 percent of Ford’s automotive revenue, including customer intelligence and product and consumer marketing.

“We’re putting more decision-making in the hands of our people who are closest to customers,” said Kumar Galhotra, president, Ford Americas and International Markets Group, to whom Deering will report.  “That makes marketing more important than ever and Suzy’s world-class background will be vital to modernizing our approach, dialing-up our understanding of customer ambitions and redefining our brands to help us grow.”

“Technology will be a powerful part of Ford’s transformation and how we enhance and release the huge value of our iconic brands,” said Deering.  “My team will be involved from end-to-end on behalf of customers – better connecting with them, using data to foresee and deliver what they need, and earning and keeping their trust.”

At eBay, Deering helped revive the global e-commerce company’s brand and enable a sharp increase in revenue over the past two years.  Earlier, she was CEO of Moxie, a technology-led marketing agency, and spent 13 years at Verizon Wireless, the last two as executive director of Media, Engagements and Integrations.  Deering holds a bachelor’s degree in Advertising from the University of Georgia.

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BusinessCorporate Boards

Visa Inc. Appoints Linda J. Rendle to its Board of Directors

by lp

Visa Inc. board of directors (the “Board”) announced  the appointment of Linda J. Rendle to the Board, effective November 23, 2020, for a term that will expire at the Company’s 2021 Annual Meeting of Stockholders.

Ms. Rendle has served as the CEO and a director of The Clorox Company since September 2020. Ms. Rendle has a track record of delivering outstanding business results and providing values-led leadership, gained from nearly 20 years in a variety of senior operational and executive roles across many of Clorox’s businesses. As CEO of a global company, her extensive experience and instrumental role in developing key corporate strategies provide important insights and perspectives with respect to global product development, growth and long-range planning.

“I am pleased to welcome Linda to Visa’s board of directors,” said Al Kelly, Chairman and Chief Executive Officer of Visa Inc. “Linda is an outstanding leader with deep operational experience and a demonstrated commitment to environmental, social and governance initiatives, which will be invaluable to Visa as we expand our network, bring innovative payment solutions to market globally and advance our mission to connect the world to help individuals, businesses and economies thrive.”

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BusinessC-SuiteMovers & Shakers

Gap Inc. Appoints Sandra Stangl President & CEO of Banana Republic

by lp

Gap Inc. announced that Sandra Stangl will join Gap Inc. as the new President and CEO of Banana Republic, as the brand redefines affordable luxury.

“Gap Inc. has significant opportunity to grow our purpose-led, billion-dollar lifestyle brands through the power of our platform, sophisticated end-to-end capabilities and by harnessing the advantages that come with operating a portfolio that targets 80 percent of the addressable apparel market,” said Sonia Syngal, CEO of Gap Inc. “With the addition of Sandra, a strong industry veteran and proven creator, I have even greater confidence in our ability to deliver against our Power Plan 2023 as we steer the company into the future.”

Sandra Stangl is a strong creative leader known for delivering design vision, brand expansions and financial results. During her 23 years at Williams Sonoma, she held numerous leadership positions including President, Pottery Barn Brands and launched two iconic brands – Pottery Barn Kids and Pottery Barn Teen. Stangl was President, Chief Merchandising & New Business Development Officer for Restoration Hardware where she led new assortment, inventory and quality strategies enhancing the customer experience. Most recently, she cofounded and was the Chief Merchant of MINE, a disruptive pure-play home business. Stangl will bring the agility and strategic orientation of a tenured retail executive and entrepreneurial leadership to Banana Republic when she joins in December 2020.

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BusinessC-SuiteMovers & Shakers

Karen S. Lynch Named the Next President and CEO of CVS Health

by lp

CVS Health Corporation  announced that its Board of Directors appointed Karen S. Lynch, currently Executive Vice President, CVS Health and President, Aetna, as the company’s next President and CEO, effective February 1, 2021. Ms. Lynch will also join the company’s Board of Directors upon assuming her new role. Larry J. Merlo will transition from the President and CEO role on February 1, 2021, after beginning his career with the company as a community pharmacist more than 40 years ago, and serving as President and CEO for a decade. Mr. Merlo will continue to serve on CVS Health’s Board of Directors until the company’s next Annual Meeting of Stockholders in May 2021, and as Strategic Advisor to assist with the transition until his retirement on May 31, 2021.

“This leadership transition comes at the right time for CVS Health. This month marks the two year anniversary as one company, with our foundation clearly established and significant positive momentum across the company,” said David W. Dorman, Chair of the Board of CVS Health Corporation. “As Larry has been transparent with us about his overall plans, we were able to put a thorough, multi-year process in place to consider and evaluate internal and external candidates. That process led to the selection of Karen Lynch. Larry’s collaboration with Karen in the coming months will ensure an effective leadership transition.”

“Karen is a seasoned health care expert who knows our business. She brings a relentless focus on the customer, a strong track record of driving growth and innovation, and proven transformational leadership, all of which position her well for success. Our Board of Directors believes that Karen is the right leader to guide CVS Health into its next era of growth as the company continues its transformation,” Mr. Dorman continued.

“I am deeply honored to have the opportunity to succeed Larry and lead CVS Health on the next phase of our important journey to meet America’s health care needs,” said Karen S. Lynch, Executive Vice President, CVS Health and President, Aetna. “Never before has our purpose been more critical than during these unprecedented times. Together with the CVS Health leadership team and all of our colleagues, I will work to build on the strong foundation Larry has put in place to continue to make health care more accessible and affordable, driving better health outcomes for our consumers and communities. I am highly confident about our company’s future and look forward to further accelerating the value we bring to all of our stakeholders.”

“On behalf of CVS Health and the Board, I would like to thank Larry for his outstanding leadership and deep commitment to the company. During his tenure, CVS Health has transformed from a regional retail pharmacy into the nation’s leading diversified health services company, with over $250 billion in revenues. Larry led CVS Health’s industry-disrupting acquisition of Aetna in 2018, and strategically positioned the company’s community-based health clinics to provide integrated and holistic health care services to all Americans. In doing so, he created new ways to deliver health care through CVS Health’s unparalleled suite of assets, including a national health insurance plan provider, a pharmacy benefits manager, community-based retail pharmacies and a long-term care pharmacy services business,” said Mr. Dorman. “No discussion of Larry’s tenure would be complete without recognizing his leadership of the company’s bold decision to eliminate the sale of tobacco products from all CVS Pharmacy stores, which was widely credited with being a catalyst for the reduction in smoking levels in the U.S.”

“I am incredibly proud to have had the opportunity to lead CVS Health over the past decade as we pursue our important purpose to help people on their path to better health,” said Larry J. Merlo, President and Chief Executive Officer, CVS Health. “I am grateful to our entire CVS Health team for their dedication and hard work in helping us build a powerful, integrated health services company that will enable us to transform how health care is delivered across the country. Karen has been a key partner to me in our foundational work over the last two years, and her experience and vision will be critical in driving forward CVS Health’s journey of enhancing value for our customers as the nation’s leading health care company for years to come.”

In her current role as Executive Vice President, CVS Health and President, Aetna, and with eight years in total at Aetna, Ms. Lynch is responsible for leading the company’s strategy to deliver consumer-focused, high-value health care to the millions of people Aetna serves. She is also responsible for developing diversified enterprise health care solutions that leverage all of CVS Health’s assets. Prior to joining Aetna in 2012, she was President of Magellan Health Services, a diversified health services company, and held various senior executive positions at Cigna.

At CVS Health, Ms. Lynch had a critical leadership role in the company’s integration of Aetna, launching its first suite of transformative products and services, including the Aetna Connected Plan, powered by CVS Health, and Aetna health plans with access to all covered MinuteClinic services at no cost. Under her leadership Medicare Advantage membership grew more than three times the industry average, generating outstanding membership growth of over 30 percent in 2019. Ms. Lynch has also been instrumental in the design of the HealthHUB strategy, incorporating the HealthHUBs’ differentiated suite of services into Aetna’s offerings.

Ms. Lynch is consistently rated as a top innovator and influencer in the health care space and has been named to Business Insider’s Top 100 People Transforming Business for the significant role she plays in transforming businesses through innovative solutions that deliver value to customers and drive growth. From 2016 to 2020, she was named to Fortune’s Most Powerful Women in Business list. Ms. Lynch also serves on the Board of U.S. Bancorp and is the Chair of its Audit Committee.

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PG&E Corporation Appoints Patricia K. Poppe as Chief Executive Officer

by lp

PG&E Corporation  announced the appointment of Patricia K. “Patti” Poppe as Chief Executive Officer and member of its Board of Directors as well as of the Board of Directors of Pacific Gas and Electric Company. Ms. Poppe currently serves as President and Chief Executive Officer of CMS Energy Corporation and its principal subsidiary, Consumers Energy Company, an investor-owned utility that provides electricity and natural gas to 6.7 million Michigan residents. She will take over from Interim PG&E CEO William “Bill” Smith on January 4, 2021.

“Patti is an exceptional leader with the experience, drive, and character to lead PG&E through its next chapter. She knows the utility industry top to bottom and has a deep understanding of what it takes to provide safe, reliable, affordable, and clean energy to millions of customers,” said Robert Flexon, Chairman of PG&E Corporation’s Board of Directors. “We all recognize that PG&E must continue to improve, adapt, and become more resilient to the changing climate. As the leader of Michigan’s largest utility, Patti has embraced technology and put the company on a course to achieving its ambitious clean energy goals while maintaining steady and safe performance, prioritizing customer service, and advancing workplace equity. We are delighted to welcome her to PG&E and look forward to working closely with her to meet the challenges ahead as we continue to enhance the company’s culture and improve its operations.”

Ms. Poppe was appointed President and CEO of CMS Energy and Consumers Energy in 2016 and has resigned with an effective date of December 1, 2020. Under her leadership, CMS Energy and Consumers Energy earned consistent industry recognition and maintained strong operational and financial performance. Ms. Poppe continuously prioritized safety, with safety incidents decreasing by 70% since 2008. In fact, in 2019, Consumers Energy was ranked top quartile by Edison Electric Institute’s utility standards in safety performance. Among her other achievements: Consumers Energy was ranked #1 overall in the Midwest Large Segment for the 2019 Gas Residential Customer Satisfaction Study by JD Power & Associates, and in 2019, customers saved nearly $600,000 on their energy bills through energy efficiency programs, boosting total customer savings to $3.1 billion since 2009.

Additionally, Ms. Poppe was ranked by Institutional Investor magazine as second of 44 utility CEOs and third of 47 utility CEOs for 2020 and 2021, respectively. Among other appointments, Ms. Poppe currently serves as a member of the Board of Directors and Executive Committee of both the Edison Electric Institute and the American Gas Association.

“I am honored by this appointment and look forward to working alongside PG&E’s 23,000 employees to deliver for our customers in Northern and Central California,” said Ms. Poppe. “As California’s largest utility, PG&E has the privilege of powering one of the world’s largest economies and the opportunity to help lead the state’s clean energy future. It also faces significant challenges. I am eager to get to know the PG&E team and to join in the critical work of strengthening PG&E for California’s next generation and earning back the community’s trust.”

During her tenure at CMS Energy and Consumers Energy, Ms. Poppe has been a leader in clean energy, developing a broad coalition of support and putting in place ambitious clean energy plans to reduce emissions, eliminate coal, and increase renewable energy. She has led a significant push into renewables as part of the integrated resource planning for Consumers Energy, including a net zero carbon target by 2040. She has also overseen substantial progress toward CMS Energy and Consumers Energy’s near-term goals to save water, reduce landfill waste, and protect, enhance or restore land.

Ms. Poppe’s championing of workplace equity has earned Consumers Energy significant recognition as an employer, including as the top employer for women in the utility industry (Forbes, 2020), as one of the top 50 employers for diversity (Forbes, 2020), as the top utility company in Michigan for diversity (Forbes, 2019), as the recipient of a Gold Veteran-Friendly Employer distinction (Michigan Veteran Affairs Agency, 2018), and as one of the top 50 globally in Military Times’ Best for Vets: Employers (2019).

Throughout her tenure at CMS Energy and Consumers Energy, Ms. Poppe developed strong working relationships with labor, a critical workforce that delivers for PG&E customers across the state. She also worked closely and collaboratively with Michigan regulators in mutual service for the people of Michigan, and will look to do the same at PG&E.

Prior to her role as President and CEO of CMS Energy, Ms. Poppe held other leadership positions in the utility, including Senior Vice President of Distribution Operations, Engineering and Transmission, with overall responsibility for Consumers Energy’s electric and natural gas distribution systems, energy operations, and electric transmission. Her earlier roles at the utility focused on operations and customer experience.

Before joining CMS Energy, Ms. Poppe worked for DTE Energy for five years, first as a Power Plant Director, then as a Director of Regulated Marketing and Energy Optimization. Prior to her time at DTE, Ms. Poppe worked at General Motors for 15 years in various roles. Ms. Poppe holds bachelor’s and master’s degrees in industrial engineering from Purdue University, as well as a master’s degree in management from Stanford’s Graduate School of Business.

The PG&E Corporation Board of Directors appointed Ms. Poppe following a broad national search that looked at candidates both inside and outside of the utility and energy industries. The Board thoroughly evaluated candidates over the last several months.

“I have every confidence Patti will hit the ground running and lead PG&E forward,” said Bill Smith, PG&E Corporation’s Interim CEO. “She is incredibly smart, knows the operations side of this business, and brings to her work curiosity, dedication, and warmth. These qualities will serve her well as she brings PG&E into the future. I look forward to introducing Patti to our talented workforce, welcoming her to California, and working closely with her in the years ahead.”

Mr. Smith will remain on the PG&E Corporation and Pacific Gas and Electric Company Boards of Directors following Ms. Poppe’s arrival. Mr. Flexon added: “On behalf of the full Boards of Directors, I want to thank Bill for his service as interim CEO since earlier this year. His leadership has been invaluable in taking the company forward since emergence, and we are grateful his experience will continue to inform us as a member of the Boards.”

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