Management Change 3.4.24

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Management Change
March 04, 2024

Persons of Interest:

  • Adler Group (ADJ DE): Artur Kirsten is no longer Chairman of Adler Group, which was an accounting fraud.

  • Albany International Corp (AIN US): Erkie Kailbourne, former Chair of the Audit Committee of Adelphia, which was a fraud, is no longer Chairman of Albany International but continues to serve on the Board.

  • Archer-Daniels Midland (ADM US): Ben Bard, who we started following for his involvement in Archer-Daniels Midland, is no longer Chief Compliance Officer and Chief Audit Executive at the company and is now serving as Chief Integrity Officer.

  • Berry Global Group (BERY US): Scott Ullem, who we track for his Board membership in Illumina, left the Board of Berry Global.

  • CleanCore Solutions (Private): Doug Moore, former member of the Audit Committee of Lumber Liquidators, which was a fraud, is now Chairman of CleanCore Solutions.

  • Euglena (2931 JP): Akihiko Nagata, a pre IPO Board member of Euglena, which was flagged for being massively overvalued, is no longer CEO of the company.

  • Fanhua (FANH US): Stephen Markscheid, who has been on a number of frauds, including ChinaCast Education, Hexindai, JinkoSolar, left the Board of Fanhua, which was also a fraud.

  • Far East Holdings International (36 HK): Eric Todd, former Executive Director of Hsin Chong Holdings, which was an accounting fraud, left the Board of Far East Holdings International.

  • Golden Sun Health Technology Group (GSUN US): Xiao Jin, former Controller of Nisun International Enterprise Development Group, which was an accounting fraud, joined the Board of Golden Sun Technology Group.

  • International Media Acquisition Corp (IMAQ US): Claudius Tsang, former Board member of Real Nutriceutical, which was an accounting fraud, was named CFO and Director of International Media Acquisition Corp.

  • MPOWER Financing, Public Benefit Corporation (Private): Rob Partlow, former CFO of Greensky, which violated lending laws, is Director and CFO of MPOWER Financing.

  • PGG Wrightson (PGW NZ): Kean Seng, former Head of Legal Affairs at Agria, which was an accounting fraud, is no longer interim Chairman of PGG Wrightson but continues to serve on the Board.

  • Shima Capital (Private): Carl Hua, the Chief Architect of CelsiusX, which was a crypto fraud, is now a Venture Partner at Shima Capital.

  • The RealReal (REAL US): Karen Katz, who served on the Board of Under Armour when it got in trouble for accounting manipulation, is no longer Chair of The RealReal but continues to serve on the Board.

Management Changes:

  • Grocery Outlet (GO US): Said SVP of Accounting Lindsay Gray would take over as CFO on an interim basis.

  • Marathon Oil (MRO US): Promoted Rob White to CFO.

  • MEG Energy (MEG CA): Said COO Darlene Gates would take over as CEO.

  • New York Community Bancorp (NYCB US): Said Executive Chairman Sandro DiNello would take over as CEO. The company also named George Buchanan as Chief Risk Officer and Colleen McCullum as Chief Audit Executive.

  • Norsk Hydro (NHY NO): Said CFO Pål Kildemo is leaving.