CEO changes
Rent-A-Center, Inc. named board member Mitchell E. Fadel as its new Chief Executive Officer, replacing Mark E. Speese. Fadel previously served as President, U.S. Pawn at EZCORP, Inc. Before that, he was Rent-A-Center’s President and Chief Operating Officer.
Richard Cousins, Chief Executive Officer of Compass Group PLC, died in a plane crash in Australia on December 31, 2017. The company promoted Dominic Blakemore, Chief Operating Officer for Europe, to CEO. He had previously been slated to succeed Cousins on April 1, 2018.
EnLink Midstream, LLC and EnLink Midstream Partners, LP named Michael J. Garberding President and Chief Executive Officer, succeeding Barry E. Davis, who is now Executive Chairman. Garberding previously served as President and Chief Financial Officer.
Cleco Corporate Holdings LLC promoted William G. Fontenot to Chief Executive Officer. Fontenot, formerly Chief Operating Officer, succeeded interim CEO Peggy Scott, who continues as Chair of the Board of Managers.
Former government officials joining the corporate world
Michael Wilson, a former member of the National Infrastructure Advisory Council at the Department of Homeland Security, has been appointed a Director at Suncor Energy Inc.
Merger/restructuring news
Liberty Interactive Corporation completed its acquisition of HSN, Inc. on December 29, 2017. Liberty Interactive previously owned a 38% stake in HSN.
AmerisourceBergen Corporation completed its acquisition of H. D. Smith Holding Company and its subsidiaries on January 3, 2018, for a total of $815 million in cash. AmerisourceBergen made this acquisition with the goal of strengthening the company’s strategic scale in the community pharmacy market.
Becton, Dickinson and Company (BD) completed its $24 billion acquisition of C. R. Bard, Inc. on December 29, 2017. The acquisition builds on BD’s offerings and strategic presence in the healthcare industry, with the combined company expected to generate approximately $16 billion in annual revenue.
Dominion Energy, Inc. and SCANA Corporation announced that both companies will merge, with SCANA becoming a subsidiary of Dominion Energy, in a deal worth up to $14.6 billion. The transaction is expected to be completed by December 31, 2018.
SandRidge Energy, Inc. agreed to terminate its pending acquisition of Bonanza Creek Energy, Inc.
More Business Changes
Welltower Inc. announced on December 27, 2017, that, as part of a series of strategic ventures coming into the new year, the company had hired Mark Shaver, formerly Vice President of Business Development and Strategic Alliances at Johns Hopkins Medicine, as its new Senior Vice President of Strategy.
