The board of directors of truckmaker Navistar International Corp., added chairman to the duties of Daniel C. Ustian, president and CEO. Ustian succeeds John R. Horne, who has served as chairman of the board since 1996 and is retiring from the board.
Ustian was elected president and COO in April 2002 and CEO in February 2003. Horne joined Navistar International in 1966 as an engineer and became president in 1990 and CEO in March 1995.
BROWN, GIBBONS, LANG & CO.
Michael E. Gibbons and Scott H. Lang, senior managing directors and principals at Brown, Gibbons, Lang & Co., were named U.S. Middle Market Deal Makers of the Year at the Mergers & Acquisitions Advisor Awards in New York City Dec. 3.
The Caterpillar Inc. board of directors appointed James W. Owens the next chairman and CEO of Caterpillar Inc. to replace Glen A. Barton, who is retiring after 43 years with the company.
Owens joined Caterpillar in 1972 as a corporate economist and held various management positions in economics, accounting and product source planning. In 1987, he became managing director of P.T. Natra Raya, Caterpillar's joint venture in Indonesia.
Barton began his career in 1961 and has held numerous marketing and management positions with responsibilities for North America, South America, Europe and Japan. He was elected a Caterpillar vice president in 1987 and chairman and CEO in 1999.
David Propis joined GlobalNet Corp. as its new president. Propis assumes the role of president from Mark Wood, who remains the chairman and CEO. Propis most recently was the senior analyst for the NIR Group LLC, an investment management firm that focuses on investing in emerging growth companies.
McDonald's Corp. promoted Chris Cole to CFO of McDonald's U.S.A. Cole, a 24-year McDonald's veteran, was most recently the financial controller for McDonald's Central Division, where she managed financial accounting and reporting for more than 4,000 company-owned and franchised McDonald's restaurants in the Midwestern United States.
Midway Games Inc. appointed Steve Allison as chief marketing officer, a new position at the company. Allison will report directly to Midway's president and CEO David F. Zucker. Allison brings more than 10 years of interactive entertainment marketing experience to Midway. Prior to joining Midway, he was vice president of marketing and business development at Atari Inc., overseeing all of the Atari branded products.
SurePayroll, the nation's fifth largest payroll provider, appointed Michael Alter as its new president. Alter served as senior vice president of marketing and business development since 1999. Under his leadership, SurePayroll's customer base grew to more than 10,000 small businesses, comprising payroll payments of over $2.5 billion in 2003. Previously, he was a consultant at McKinsey & Co.
USF Corp. named James J. Hyland vice president, investor relations and corporate communications. Hyland is responsible for creating a coordinated communications strategy for USF Corp. Prior to USF, Hyland was senior vice president, investor relations at Comdisco Inc., where he worked for 18 years.
Deromedi takes solo CEO spot at Kraft
Kraft Foods dropped its dual CEO structure with the appointment of Roger K. Deromedi, as its sole CEO. Betsy D. Holden formerly Co-CEO of Kraft Foods will continue with the company in a global leadership position and remain a member of the board of directors, according to the company.
"The appointment of Roger Deromedi as the chief executive officer gives me great confidence in the future of Kraft," said Louis C. Camilleri, chairman of Kraft Foods. "I have the highest regard for Roger and his capabilities. His sterling career has spanned continents, brands and businesses. Roger has demonstrated deep insight into what makes our business work. Deromedi was appointed co-CEO, Kraft Foods Inc. and a member of the Kraft board of directors in 2001. He was named president and CEO, Kraft Foods International in 1999. He has more than 26 years of experience with the company in Europe, Asia and North America.
"I am particularly gratified that Betsy Holden will stay on the team and bring her unsurpassed marketing talents and leadership abilities to the benefit of our business," Camilleri said.