Some of the Most Legendary CEOs in Corporate America Are Retiring
There is a changing of the guard in Corporate America.
Source THE STREET
By Brian Sozzi Dec 9, 2016 9:43 AM EST
Nothing lasts forever, even for seemingly invincible titans of Corporate America.
As we exit the old year, some of the biggest names and some of the most transformational CEOs around are handing over their coveted jobs to hand-picked successors. While these battled-tested Baby Boomer executives aren’t completely vanishing from their companies, the announcements do represent a changing of the guard to a new generation.
TheStreet takes a brief look at several CEO transitions underway.
The beverage giant is the latest to announce a transition in the corner office, saying Friday that long-time CEO Muhtar Kent will step down as CEO effective May 1, 2017. He will remain chairman. Taking over for Kent as CEO will be Chief Operating Officer James Quincey (who TheStreetrecently interviewed in the above video).
Warren Buffett, chairman and CEO of Berkshire Hathaway (BRK.A) (BRK.B) and a long-time Coke shareholder, said, “As chairman and CEO, Muhtar has been an excellent steward of Coca-Cola’s business over the last eight years and I am thankful for the leadership he has provided to put in place the right vision, strategy and thoughtful succession plan for long-term success.” He added, “I know James and like him, and believe the company has made a smart investment in its future with his selection.”
As TheStreet reported back in August last year, the ascendance of Quincey, 51, to the CEO role was more likely than not given his global resume.
Quincey was promoted to the operating chief position in August 2015 from president of Coke’s European operations. At the time, Coke hadn’t had a COO since 2007, signifying the importance of Quincey’s promotion.
Quincey joined Coca-Cola in 1996 as a director in its Latin American group. From then until 2005, Quincey rose through the ranks in Coca-Cola’s Latin America operations, finishing up as president of Coke’s Mexico division. From October 2008 to January 2013, he served as president of Coke’s Northwest Europe and Nordics business unit before being appointed European president in 2013 as part of an organizational shakeup.
“I will focus on long-term strategy, developing robust talent and our innovation pipeline,” said Coca-Cola Chairman and CEO Muhtar Kent said in August 2015 in response to a question by TheStreeton how his day-to-day role would change with Quincey serving as COO. Kent’s comment, at the time, sounded more like a veteran executive readying to transition to a chairman role, handing off the baton to a worthy successor. As it turns out, that was the case.
Since then, Quincey has focused on Coke’s growth strategies, overseeing the execution of an ongoing billion-dollar restructuring plan, marketing and building out Coke’s portfolio of brands.
THINGS THAT MAKE YOU GO HMMMM: A List of Legislators LEAVING the U.S. CONGRESS and U.S. SENATE by Retiring, Running for Other Office, RESIGNING, or Not Running Again
Source for Senators Senate.gov
Source for Congressional members CNN
By Adam Levy, Wade Payson-Denney and Ashley Killough, CNN
Updated 2:58 PM ET, Mon December 4, 2017
Washington (CNN)This fall has seen a steady stream of Republican House members announcing their plans to resign, retire or run for another office.
As moderate Republican members Dave Reichert and Charlie Dent prepare to leave Congress, conservatives want stronger allies in their seats, while Democrats see an opportunity to flip them.
Democrats need to pick up 24 seats to retake the majority from Republicans, who’ve maintained control of the House since 2011.
The campaign committees on both sides are eying the 23 Republicans defending districts that Hillary Clinton won, and the 12 held by Democrats in districts that President Donald Trump won as vulnerable seats to flip.
While midterm elections are historically tough for the party of the President in power, it’s too early to tell how things will unfold next year.
US Representatives Leaving Congress
Resigned or Resigning
Rep. Jason Chaffetz (R, UT-3); left House on 6/30/17 to become a Fox News contributor (Republican Rep. Jim Curtis won the special election November 7 and was sworn in last month)
Rep. Tim Murphy (R, PA-18), announced via statement on 10/4/17, will leave on 10/21/17 (Special election TBA)
Rep. Pat Tiberi (R, OH-12), announced via statement on 10/19/17, will leave “by January 31, 2018” (Special election TBA)
Rep. John Conyers (D, MI), announced via talk news radio 12/05/17
Running for Other Office
Running for President
Running for Governor
Running for the Senate
Senators Retiring or Resigning
Senator Bob Corker (R-Tennessee), Retiring 2018
Senator Jeff Flake (R-Arizona), Retiring 2018
Senator Al Franken (D-Minnesota), announced Resignation 12/07/17
Senator John McCain (RINO-Arizona), suffering from a brain tumor due to a lack of adrenochrome and a guilty conscience due to how he gets his adrenochrome
BALLOTPEDIA’S List of U.S. Congress incumbents who are not running for re-election in 2018
This lists the incumbent members of the 115th U.S. Congress who are not running for re-election in the 2018 Congressional elections (both U.S. Senate and U.S. House).
U.S. Senate members
U.S. House members
As of December 10, 2017, a total of 36 representatives will not seek re-election to their U.S. House districts.
Incumbents retiring from public office
|Bob Goodlatte||Republican||Virginia, District 6|
|Carol Shea-Porter||Democratic||New Hampshire, District 1|
|Charles W. Dent||Republican||Pennsylvania, District 15|
|Dave Reichert||Republican||Washington, District 8|
|David Trott||Republican||Michigan, District 11|
|Frank LoBiondo||Republican||New Jersey, District 2|
|Gene Green||Democratic||Texas, District 29|
|Ileana Ros-Lehtinen||Republican||Florida, District 27|
|Jeb Hensarling||Republican||Texas, District 5|
|Joe Barton||Republican||Texas, District 6|
|John Delaney||Democratic||Maryland, District 6|
|John J. Duncan, Jr.||Republican||Tennessee, District 2|
|Lamar Smith||Republican||Texas, District 21|
|Luis V. Gutierrez||Democratic||Illinois, District 4|
|Lynn Jenkins||Republican||Kansas, District 2|
|Niki Tsongas||Democratic||Massachusetts, District 3|
|Sam Johnson||Republican||Texas, District 3|
|Sandy Levin||Democratic||Michigan, District 9|
|Ted Poe||Republican||Texas, District 2|
Incumbents seeking other offices
U.S. House members seeking a seat in the U.S. Senate
|Beto O’Rourke||Democratic||Texas, District 16|
|Evan Jenkins||Republican||West Virginia, District 3|
|Jacky Rosen||Democratic||Nevada, District 3|
|Kyrsten Sinema||Democratic||Arizona, District 9|
|Lou Barletta||Republican||Pennsylvania, District 11|
|Luke Messer||Republican||Indiana, District 6|
|Marsha Blackburn||Republican||Tennessee, District 7|
|Todd Rokita||Republican||Indiana, District 4|
U.S. House members running for governor
|Colleen Hanabusa||Democratic||Hawaii, District 1|
|Diane Black||Republican||Tennessee, District 6|
|Jared Polis||Democratic||Colorado, District 2|
|James B. Renacci||Republican||Ohio, District 16|
|Kristi L. Noem||Republican||South Dakota, At-Large District|
|Michelle Lujan Grisham||Democratic||New Mexico, District 1|
|Raul R. Labrador||Republican||Idaho, District 1|
|Steve Pearce||Republican||New Mexico, District 2|
|Tim Walz||Democratic||Minnesota, District 1|
Congressional incumbents who left office early or have announced upcoming resignations
|Name:||Party:||Most recent office:|
|Al Franken||Democratic||U.S. Senate, Minnesota|
|Jason Chaffetz||Republican||U.S. House, Utah, District 3|
|Jeff Sessions||Republican||U.S. Attorney General|
|John Conyers, Jr.||Democratic||U.S. House, Michigan, District 13|
|Michael “Mick” Mulvaney||Republican||Director of the U.S. Office of Management and Budget|
|Mike Pompeo||Republican||Director of the CIA|
|Patrick J. Tiberi||Republican||U.S. House, Ohio, District 12|
|Ryan Zinke||Republican||U.S. Secretary of the Interior|
|Tim Murphy||Republican||U.S. House, Pennsylvania, District 18|
|Tom Price||Republican||Former Secretary of Health and Human Services|
|Trent Franks||Republican||U.S. House, Arizona, District 8|
|Xavier Becerra||Democratic||Attorney General of California|