OIA Global today announced the appointment of Keith Lovetro as their new Chief Executive Officer. Mr. Lovetro is a leader in the logistics industry with more than 35 years of experience in shipping, freight, and transportation services.
Keith Lovetro joins OIA Global during a period of rapid growth and will assume overall responsibility for the financial performance of the company, its long-term strategic vision, and day-to-day operating performance. "I am tremendously honored to lead OIA's talented and dedicated global team and eager to unlock opportunities for growth and innovation."
J. A. Lacy, President and CEO of LDI Ltd., OIA Global's parent company, welcomed Keith to this role, saying, "With his well-rounded logistics and transportation experience, we are confident that Keith is the leader for OIA's future, and with the support of the OIA Board of Directors, he will push the organization to deliver exceptional results for our customers, employees, and stakeholders."
Prior to joining OIA Global, Mr. Lovetro was CEO of TRAC Intermodal, the largest intermodal chassis pool manager and equipment provider for International and Domestic shippers in North America. TRAC has over 310,000 chassis under management with a net book value of $1.5 billion dollars. During his tenure at TRAC, Mr. Lovetro doubled the company's revenue during a difficult industry transition.
Keith earned a BA Degree from the University of California-Davis, and an MBA from the University of Santa Clara. He received outstanding training early in his career working for best-in-class organizations, including FedEx, DHL, and YRC, where he developed his finance, commercial, and operating expertise.
About OIA Global
Since its founding in 1988, OIA has grown into a $1.3 billion supply chain management leader, delivering clients a unique combination of global logistics, packaging, and materials sourcing solutions. With over 1,200 professionals in 65 owned offices and a worldwide presence in 28 countries, OIA designs innovative solutions that optimize supply chains around the world. OIA is privately owned by Indianapolis-based LDI, Ltd., with more than a century of experience funding and operating high potential, middle-market companies.
For more information, please visit www.oiaglobal.com and www.ldiltd.com.
Boeing (NYSE: BA) delivered 69 737 airplanes in December and set a new annual record of 806 deliveries in 2018, surpassing its previous record of 763 deliveries in 2017. Even as Boeing delivered more jetliners, the company again grew its significant order book with 893 net orders, including 203 airplane sales in December.
"Boeing raised the bar again in 2018 thanks to our teammates' incredible focus on meeting customer commitments, and continuously improving quality and productivity," said Boeing Commercial Airplanes President & CEO Kevin McAllister. "In a dynamic year, our production discipline and our supplier partners helped us build and deliver more airplanes than ever before to satisfy the strong demand for air travel across the globe."
With a seven-year order backlog, Boeing increased production of the popular 737 in the middle of 2018 to 52 airplanes per month. Nearly half of the year's 580 737 deliveries were from the more fuel-efficient and longer-range MAX family, including the first MAX 9 airplanes.
At the same time, Boeing continued to build the 787 Dreamliner at the highest production rate for a twin-aisle airplane to support high demand for the super-efficient jet. The Dreamliner program finished with 145 deliveries for the year.
Deliveries of various 777, 767 and 747-8 models rounded out the total of 806 airplanes for the year. 767 deliveries include the transfer of 10 767-2C aircraft to Boeing Defense, Space & Security for the U.S. Air Force KC-46 tanker program.
On the orders front, Boeing achieved sales success across its airplane portfolio with 893 net orders valued at $143.7 billion according to list prices. While growing the order backlog for nearly every program, the company showed particular strength in the twin-aisle category with 218 widebody orders last year.
The 787 Dreamliner extended its status as the fastest-selling twin-aisle jet in history with 109 orders last year or about 1,400 since the program launched. Highlights include Hawaiian Airlines switching from the Airbus A330 to the 787 and Turkish Airlines becoming a new customer. American Airlines and United Airlines added to the growing list of repeat Dreamliner purchases with 47 and 13 additional jets respectively.
The 777 family continued its steady sales momentum with 51 net orders in 2018, driven by sales of the 777 Freighter to DHL Express, FedEx Express, ANA Cargo, Qatar Airways and other major freight operators. With additional sales in December, the 777 program exceeded 2,000 orders since its launch.
The 737 MAX family also achieved a major sales milestone in December, surpassing 5,000 net orders with 181 new sales during December. For the full year, the 737 program achieved 675 net orders, including sales to 13 new customers.
"We are honored that customers around the world continued to vote for the unmatched capabilities of Boeing's airplane and services portfolio. In addition to the ongoing demand for the 737 MAX, we saw strong sales for every one of our twin-aisle airplanes in a ringing endorsement of their market-leading performance and efficiency," said Ihssane Mounir, senior vice president of Commercial Sales & Marketing for The Boeing Company.
"More broadly, another year of healthy jet orders continues to support our long-term forecast for robust global demand that will see the commercial airplane fleet double in 20 years," said Mounir.
A detailed report of 2018 commercial airplane orders and deliveries is available on Boeing's Orders and Deliveries website. A video features other major Commercial Airplanes milestones from 2018.
New Avon LLC* ("Avon" or the "Company") today announced it has appointed Laurie Ann Goldman as Chief Executive Officer, effective January 14, 2019. Ms. Goldman succeeds Scott White, who joined Avon in 2016 to lead its separation from Avon Products, Inc. and the operational transformation of Avon's business in North America.
Ms. Goldman, who joined Avon's Board of Managers in August 2018, is a distinguished marketing and branding executive with more than 30 years of experience at leading consumer products companies. Notably, Ms. Goldman was the Chief Executive Officer of Spanx, a multinational women's apparel company, for 12 years, and was instrumental in building the brand from a small start-up to a successful global business with a number one position in market and mind share. Earlier in her career, Ms. Goldman held various senior leadership roles in the Global Marketing division of The Coca Cola Company.
"Laurie Ann is an experienced and inspirational leader in women's lifestyle and consumer products, and we are thrilled to welcome her as our new CEO," said Lori Bush, Chairwoman of the Avon Board of Managers. "We believe Laurie Ann's proven brand and business building capabilities, along with her passion for empowering women, make her the ideal CEO to further promote the success of our Representatives and ensure outstanding experiences for their enhanced satisfaction for our customers."
Ms. Goldman commented, "The right product has the power to change a woman's life, and each woman has the power to change the world. I'm thrilled to join Avon, the company that invented social selling, and lead the team and community of beauty advisors in driving product sales and progress for women. I thank Scott for his many contributions and look forward to delivering sustained growth through strategic innovation that will invigorate the business and ultimately help women face their futures with confidence."
Chan Galbato, Chief Executive Officer, Cerberus Operations and Advisory Company, LLC, and Member of the Avon Board of Managers, added, "This transition is the result of our original long-term plan for reinvigorating Avon – to improve the Company's fundamental operations and then transition to focus on strategic growth. We are grateful for Scott's leadership during this critical stage of Avon's development and are confident that the strong foundation he established will allow the Company to thrive in the years to come. In addition to the separation and creation of an efficient corporate infrastructure, Scott drove key initiatives to fully digitize the business, establish strategic partnerships for manufacturing and R&D, and enhance our Representative experience. We are excited for Laurie Ann to now take the Company forward and drive deeper customer engagement and sustained growth."
Mr. White will transition to a strategic advisor role and work with Cerberus Operations and Advisory Company, LLC, the proprietary operations platform of Cerberus Capital Management, L.P., Avon's financial and strategic partner. In his role, Mr. White will continue to advise Avon and Ms. Goldman and will also work on key initiatives across Cerberus' portfolio of operating company investments.
Mr. White commented, "I would like to thank the entire Avon community, including our Representatives, associates, and customers, for their ongoing dedication and belief in our iconic brand, great products, and the opportunities we provide to women throughout North America. I am confident in Avon's future and believe that with Laurie Ann's leadership, the Company will be able to drive modern, relevant experiences for our customers while creating sustainable long-term growth. I look forward to continuing to work with the Avon team, as well as Cerberus' other portfolio companies, in my strategic advisor role."
Biography of Laurie Ann Goldman
Ms. Goldman is the founder and Chief Executive Officer of LA Ventures, an investment and advisory firm for growth-oriented, consumer-facing businesses. From 2002 to 2014, Ms. Goldman was at Spanx, where she was the first Chief Executive Officer and led the Company from a start-up into a branded global business. Prior to Spanx, Laurie Ann held progressively responsible marketing and operational leadership roles both in Coca Cola USA and Global Marketing at The Coca-Cola Company including heading the Worldwide Licensing division.
In addition to Avon, Laurie Ann currently sits on the Board of Directors of Guess? Inc., Joe and the Juice, and ServiceMaster.
Ms. Goldman graduated with honors from the Moody School of Communication at the University of Texas at Austin and holds a Bachelor of Science degree.
About New Avon LLC
New Avon LLC ("Avon") is the leading social selling beauty company in North America, with independent sales Representatives throughout the United States, Puerto Rico, and Canada. Avon's portfolio includes award-winning skincare, color cosmetics, fragrance, personal care, and health and wellness products featuring brands such as ANEW, Avon True Color, Espira, and Skin So Soft, as well as fashion and accessories. Avon has a 130-year history of empowering women through economic opportunity, and supporting the causes that matter most to women. Avon philanthropy has contributed over $1 billion globally toward eradicating breast cancer and domestic violence. Learn more about Avon and its products at www.avon.com.
Former Microsoft Senior Executive to Direct Middle Office Market Leader's Focus On Customers, Culture And Continued Growth
Apttus, the global Middle Office leader, today announced the appointment of Frank Holland as its Chief Executive Officer (CEO).
Holland previously served in corporate vice president and general manager roles at Microsoft, where he built and led global teams for more than 20 years. Holland's extensive experience in the software space spans decades and includes an outstanding track record of operational and strategic accomplishments. As CEO of Apttus, Holland will lead the company as it continues growing at scale and capitalizing on its vast Middle Office market opportunity.
"It is a privilege to join an organization so immediately poised for ongoing success," Holland said. "Apttus' offerings are indispensable in helping enterprise businesses maximize revenue and manage key commercial relationships. Our customers are the most forward-thinking and successful organizations in the world. Together, we will continue building the industry's best, most sophisticated solution to optimize commercial operations."
Holland's long history of operational excellence and innovative execution provides a foundation for Apttus' continued growth and industry leadership. He most recently led Microsoft's Dynamics CRM and ERP products' growth, directing its global salesforce in delivering a portfolio of on-premise and cloud offerings. Additionally, he directed key aspects of Microsoft's business expansion and competitive positioning efforts, such as the customer-facing due diligence process associated with the $26 billion acquisition of LinkedIn in 2016. Before taking on the role as CVP of Dynamics, Holland ran Microsoft's $4 billion advertising sales business. He was Microsoft's Corporate Vice President of Operations, focusing on order-to-cash functions and field operations.
Executive Chairman David Murphy, who assumed Apttus' CEO position on an interim basis after Thoma Bravo acquired Apttus in the fall, will help Holland transition into his new role and stay active in supporting the business.
"Frank has decades of experience building a global enterprise software business and is an outstanding choice to lead Apttus," Murphy said. "He will be instrumental in fostering Apttus' corporate culture and brand. He sets a standard of leadership that will not only create success for our employees and customers but will also allow Apttus to strengthen its business and reputation as the undisputed Middle Office market leader."
Holland's appointment is the latest in a series of recent executive hires across Apttus' leadership team, including a new CFO, Controller, Chief People Officer and Chief Legal Officer.
"Frank has earned his reputation as a great leader and shares our vision for the potential of the Middle Office market," said Holden Spaht, a managing partner at Thoma Bravo. "At Apttus, he will have the full support of a talented team that is primed to support a tremendous customer base globally."
Apttus is a Silicon Valley-based global provider of Apttus Omni, the Middle Office platform that allows enterprises to automate and optimize their most critical revenue and commercial relationship management processes. Apttus is powered by the most advanced technologies from Salesforce, Microsoft and IBM. Analysts rank Apttus as the global gold standard for Quote-to-Cash (QTC) and Contract Lifecycle Management (CLM) solutions. Apttus' innovations include Max, the company's Applied Artificial Intelligence that enables enterprises to achieve superior business outcomes. Apttus partners with a world-class ecosystem. Apttus customers include hundreds of the world's mid-sized organizations and the who's who of the Global 1000.
Carmel Partners ("Carmel"), announced today the final close of Carmel Partners Investment Fund 7, its U.S. multifamily real estate value creation fund. Fund 7 had its first close in August 2018, exceeded its target size in October, achieved its hard cap and was oversubscribed with the final close in December 2018.
At $1.28 billion, Fund 7 is Carmel's largest fund to date enabling select new investors to join Carmel's existing LPs. More than 40 existing and new investors participated in Fund 7, including investors from Asia and Europe as well as the United States. Carmel has successfully raised almost $5.5 billion since inception of the fund series in 2004.
Carmel focuses exclusively on multifamily investments, including development, renovation and debt in relatively supply-constrained, high barrier-to-entry U.S. markets including the metro areas of the San Francisco Bay Area, Southern California, New York, Seattle, Denver, Washington, D.C. and Honolulu.
Ron Zeff, Founder and CEO of Carmel Partners, said, "We greatly appreciate the support of our investors as we announce the successful closing of Fund 7. Through our vertically integrated platform, we will continue to pursue a multifamily value-creation strategy in our target markets."
About Carmel Partners
Founded in 1996, Carmel Partners is one of the nation's leading specialists in real estate investment management, focusing on U.S. multifamily development and construction. Carmel seeks superior risk-adjusted returns across varying market cycles, executed through its vertically integrated platform in supply-constrained, high barrier-to-entry markets in the U.S. Since the firm's founding, Carmel has bought and renovated or developed, or is in the process of renovating or developing, more than 41,000 apartment units with an estimated value in excess of $12 billion. Headquartered in San Francisco, Carmel has offices in Los Angeles, New York, Seattle, Denver, and Washington, D.C. For more information please visit www.carmelpartners.com.
DealRoom's CEO, Kison Patel, receives professional recognition
DealRoom's CEO and Founder, Kison Patel, is now listed in People on the Move, a section of the Chicago Business Journal reserved for professionals and industry leaders making an impact.
Kison Patel founded DealRoom, a Chicago-based project management software and virtual data room, in 2012 after seeing first-hand the many challenges presented in the M&A lifecycle. Kison, with the help of other industry professionals, created a software based on Agile project management principles in the hopes of modernizing and innovating the ways in which the finance industry approaches dealmaking and everyday internal operations.
The listing says, "As a former M&A advisor with over a decade of experience, Kison developed DealRoom after seeing first-hand a number of deep-seated industry-wide structural issues. Kison aims to use technology and Agile principles to launch the industry, along with its processes, into the 21st century."
About Agile M&A:
DealRoom is the world's first and only Agile M&A platform. Built on the principles of lean-Agile systems thinking, Agile M&A provides foundational improvements to how corporations plan and execute complex projects by building a mindset of collaboration, continuous improvement and adaptation. These five core principles represent the essence of Agile M&A, and are intended to empower professionals to change the way they collaborate and achieve common goals:
DealRoom, founded by a team of former M&A professionals, is a project management and virtual data room software which uses Agile principles to solve common inefficiencies within complex financial transactions. DealRoom has seen incredible growth since opening its doors in downtown Chicago. DealRoom has created strategic partnerships, gained respected clients such as J.P. Morgan and Pfizer, and now ensures a 40 percent faster due diligence process.
Apptio, Inc., software that fuels the digital transformation, today announced that it has been acquired by Vista Equity Partners ("Vista"), a leading investment firm focused on software, data and technology-enabled businesses. The $1.94 billion transaction, originally announced on November 11, 2018, was approved by Apptio's stockholders on January 8, 2019 and completed on January 10, 2019.
"More than a decade ago, we began building the next great cloud software platform to help companies make smart decisions as they plan, analyze, and optimize technology investments," said Sunny Gupta, co-founder and CEO of Apptio. "The resources and financial strength of Vista will allow Apptio to enter our next chapter of growth, maintain our commitment and passion for customers, and cement our leadership position in fueling digital transformation at hundreds of organizations of all sizes around the world."
Following the transaction, Gupta will stay on as CEO, Apptio headquarters will remain in Bellevue, WA, and Apptio will continue to operate independently as Apptio, Inc.
With the completion of the acquisition, Apptio common stock ceased trading and is no longer listed on the NASDAQ Stock Market.
Qatalyst Partners acted as the exclusive financial advisor to Apptio and Wilson Sonsini Goodrich & Rosati served as legal advisor to Apptio to support the acquisition. Vista's legal advisor is Kirkland & Ellis LLP.
Apptio is the leading software to fuel digital transformation. We help technology and finance leaders make smart decisions as they plan, analyze, and optimize technology investments in pursuit of digital transformation. Apptio's software uses machine learning to translate technology costs and utilization across on-premises systems, vendors, projects, agile and cloud systems into a holistic, business-centric view. With Apptio, IT leaders make smarter digital transformation investments. Companies of all sizes and geographies trust Apptio to fuel their digital transformation, including 50% of the Fortune 100. For more information, please visit www.Apptio.com.
About Vista Equity Partners
Vista Equity Partners is a U.S.-based investment firm with offices in Austin, Chicago, New York City, Oakland, and San Francisco with more than $46 billion in cumulative capital commitments. Vista exclusively invests in software, data, and technology-enabled organizations led by world-class management teams. As a value-added investor with a long-term perspective, Vista contributes professional expertise and multi-level support towards companies to realize their full potential. Vista's investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity. For more information, please visit www.vistaequitypartners.com.
DENSO, the world's second largest mobility supplier, together with Canadian, Québec and Montréal government officials, announced today it has opened a satellite research and development (R&D) lab in Montréal, Canada. As part of its "second founding," DENSO is opening satellite R&D labs around the world to accelerate advanced R&D within the automotive industry. Research activities in Montréal will focus on innovations in advanced technology like artificial intelligence (AI).
Koji Arima, president and chief executive officer of DENSO Corporation, announced the opening of the Montréal Innovation Lab in Montréal alongside several Canadian government officials. On hand were François Legault, Premier of Québec; The Honourable François-Philippe Champagne, Minister of Infrastructure and Communities; Valérie Plante, Mayor of Montréal and President of the Communauté métropolitaine de Montréal; Hubert Bolduc, President and CEO of Montréal International; and Paul Buron, Executive Vice-President, Government Mandates and Programs Management at Investissement Québec.
Montréal was selected as the location for the newest satellite R&D lab due to its unique, interconnected and collaborative AI ecosystem. This new initiative will create high-value-add jobs in the mobility space within the Greater Montréal region and will support DENSO's overall global R&D activity. There is an ongoing search for a local leader. In the interim, Pat Bassett, vice president of DENSO's North America Research and Engineering Center, will oversee the Montréal lab.
"DENSO has had a presence in Canada for 46 years. Moving forward, we are glad to deepen our relationship with Canada by starting this lab with the great city and people of Montréal to build the community and the future of mobility," said Kenichiro Ito, chairman of DENSO's North America Board of Directors and chief executive officer of DENSO's North American Headquarters. "We know that to quickly create and develop the best AI and mobility solutions, we must tap both local talent and global expertise. That is why DENSO is strategically investing in research labs all over the world that are entirely dedicated to agile research and development through global collaboration."
To expedite innovation, DENSO announced its long-term plan in 2017 to broaden advanced R&D capabilities outside of Japan. The Montreal, Canada location represents this activity.
"We believe that in the next few years, artificial intelligence will lead to productivity gains of up to 1.4% per year globally. In Québec, this means our nominal GDP would increase by over $4 billion every year. Montréal has the highest concentration of AI researchers in the world. The fact that a company of DENSO's caliber saw that and decided to set up its new research center here is a great source of pride. But it also sends out a very strong signal. All investors with AI projects must know it: Montréal is THE place to do business," said the Premier of Québec, François Legault, while also mentioning the key role played by Investissement Québec and Montréal International in attracting the company to Montréal.
Valérie Plante, Mayor of Montréal and President of the Communauté métropolitaine de Montréal, added, "Greater Montréal has become one of the world's most attractive AI hubs due to the highest concentration of deep learning researchers. We applaud DENSO's decision to recognize the talent and innovation in Montréal as well as attest to our ability to attract promising investments to our region. This announcement will be a turning point for the city's positioning in the mobility of the future."
DENSO has a rich history of building hardware for the automotive market – but the industry is at a transformational moment, in which automated driving, cloud computing and artificial intelligence are the next frontier. Understanding this important shift, DENSO is expanding into software-based solutions and developing advanced technologies that will guide the future of mobility.
DENSO is a $48.1 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 220 facilities in 35 countries to produce thermal, powertrain, mobility, electrification, & electronic systems, to create jobs that directly change how the world moves. The company's 170,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 8.8 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2018. For more information about global DENSO, visit https://www.denso.com/global.
In North America, DENSO employs 24,000+ engineers, researchers and skilled workers across 31 sites in the U.S, Canada and Mexico. In the United States alone, DENSO employs 17,000+ employees across 12 states and 25 sites. Headquartered in Southfield, Michigan, in fiscal year ending March 31, 2018, DENSO in North America generated $10.9 billion in consolidated sales.
Alliance Enterprises, Inc. announced the appointment of Darcy Schab as the new Chief Executive Officer (CEO). In her 13-year career with Alliance, Ms. Schab has served in many roles, most recently as the Director of Application Services, a central role for the software company.
"Alliance has a tremendous track record of success with the Aware case management platform. I am honored to lead the teams responsible for our end-to-end solution. Now is the perfect time for Alliance to set its sights on the future and continue to evolve the technologies that will best serve our markets. I am grateful to the Board for choosing me to lead the Company and I look forward to working with our customers in this new capacity," said Alliance Enterprises CEO, Darcy Schab.
Lisa Gifford, Chairman of the Board of Directors, said of the appointment, "In Darcy's many positions within the Company she established a track record of excellent leadership and continuous focus on our customers. We are thrilled to have her as our new chief executive."
Ms. Schab came to Alliance in 2005 with a background in business management, including a Bachelor of Science in Management Information Systems from Western Washington University and an Executive MBA (EMBA) from the University of Washington, Foster School of Business. In her tenure with Alliance, Ms. Schab has led product development teams, designed and developed new lines of business, and directed customer support functions and all marketing activities, including the first annual getAwareLive conference in 2017. She succeeds Chris M. Pieper, who previously served since 2008 as Alliance's CEO.
Alliance Enterprises, Inc., is a 37-year-old software and services company located in the South Puget Sound region of Washington state, offering solutions used by thousands of individuals and companies around the world. Its flagship Aware case management platform is used by 39 state agencies and 23 tribal nations serving 10,000 VR professionals who serve over a million Americans with disabilities. Alliance's team-based goal achievement platform, MyObjectives, is used by organizations all over the world to manage team activities. Alliance was recognized in 2016 as one of the Inc. 5000 Fastest Growing Privately Held Companies, and in 2016 and 2017 as a Microsoft Gold Partner, all as it holds true to its mission of developing and supporting socially relevant computing solutions.
The North American International Auto Show (NAIAS) announced today that Anders Gustafsson, Volvo Car USA CEO, will keynote the 2019 NAIAS and AutoMobili-D – an exposition showcasing a global ecosystem of mobility-focused companies and organizations. The keynote will begin at 3:45 p.m. on the Atrium Stage on Monday, Jan. 14.
"We are honored to welcome Mr. Gustafsson as our keynote speaker at this year's show," said Bill Golling, 2019 NAIAS Chairman. "The leadership Mr. Gustafsson has shown in the future of mobility underscores the role our show plays in showcasing the industry and the ground-breaking technology disrupting it."
Gustafsson will address the role subscription plays in future mobility and the opportunities subscription brings to the experience. Volvo Car launched the first and only nationwide automotive subscription program, Care by Volvo, in 2017 with the new Volvo XC40.
AutoMobili-D will feature over 150 exhibiting brands, ranging from automakers, to suppliers, to tech startups as well as universities and government organizations. In addition, more than 100 industry thought-leaders and executives will participate in symposiums and panel discussions throughout Press and Industry Preview Days.
"AutoMobili-D continues to put together an invigorating agenda to drive the discussion on the future of mobility. I'm excited to be a part of this conversation," said Gustafsson.
MEDC/PlanetM serves as the title sponsor of PlanetM, the PlanetM Theater and AutoMobili-D at NAIAS. The 2019 NAIAS press conference schedule can be found by visiting our website. Stay up-to-date with the latest show updates by signing-up for NAIAS Newsflash.
About the North American International Auto Show
In its 31st year as an international event, the NAIAS is the most influential annual automotive event in the world. NAIAS is where future mobility innovations meet the pavement. With the largest concentration of the world's top automotive and technology executives, designers, engineers and thought leaders, NAIAS serves as the global stage for companies to debut brand-defining vehicles and industry-shaping announcements. NAIAS is unmatched in the industry in presenting six unique shows in one, including: The Gallery, an ultra-luxury automotive event, AutoMobili-D, an inside look at future mobility platforms, Press Preview, Industry Preview, Charity Preview and then concluding with a nine-day Public Show.
For more information, visit naias.com.
PepsiCo, Inc. (NASDAQ: PEP) has announced that its Board of Directors has unanimously elected Ramon Laguarta as the company's Chairman of the Board, succeeding Indra K. Nooyi who announced in August 2018 her intention to step down as PepsiCo CEO effective October 3, 2018 and remain Chairman until early 2019 to ensure a smooth and seamless transition. The appointment is effective when Chairman Nooyi retires from the company on February 1, 2019.
Laguarta is currently Chief Executive Officer of the global food and beverage company, a role he assumed on October 3, 2018. He becomes the sixth Chairman and CEO in PepsiCo's 53-year history, following Nooyi, Steve Reinemund, Roger A. Enrico, Wayne D. Calloway and Donald M. Kendall. Herman W. Lay served as PepsiCo's first chairman, while Kendall served as CEO.
"I am honored to take on this important post and want to thank the Board for the confidence they have placed in me," said Laguarta. "I also want to thank Indra for her outstanding leadership and tireless work on behalf of PepsiCo. I look forward to building on the strong legacy she and our previous leaders have created, and to working with our very talented global team to position PepsiCo for our next phase of growth."
Laguarta, a 22-year veteran of PepsiCo, has held a number of executive and leadership roles within the company. Prior to becoming CEO, he served as President of PepsiCo, with responsibility for shaping the company's corporate strategy, working closely with business units to deliver top-line growth, driving productivity to enable this growth, and investing in new areas of disruptive innovation. In this capacity he oversaw PepsiCo's Global Category Groups; its Global Operations, Corporate Strategy, and Public Policy & Government Affairs functions; and the PepsiCo Foundation. Previously, Laguarta served as Chief Executive Officer, Europe Sub-Saharan Africa, one of PepsiCo's most complex businesses with operations spanning three continents and comprised of developed, developing and emerging markets. Prior to that, he served as President, PepsiCo Eastern Europe region and served in a variety of sales, marketing and other commercial roles across Europe.
Speaking on behalf of PepsiCo's Board of Directors, Presiding Director Ian Cook said: "We are pleased to appoint Ramon as our company's Chairman. He is an outstanding leader with a compelling vision for PepsiCo and a keen understanding of the evolving needs of consumers around the world. His vast PepsiCo knowledge, combined with his innovative thinking and proven executional excellence, make him the ideal steward to take on this most important role and lead our company into the future."
Cook continued: "On behalf of the Board and the entire PepsiCo family, I want to sincerely thank Indra for her leadership and commitment over the last 24 years, for paving the way for future leaders to 'do well by doing good,' and for making PepsiCo one of the world's most ethical and admired companies. She proved that it is possible to deliver extraordinary and consistent financial performance while making a difference in the world around us, and leaves a lasting legacy."
Nooyi served as PepsiCo's Chairman since 2007 and as Chief Executive Officer for 12 years. Prior to becoming CEO, Nooyi served as President and Chief Financial Officer beginning in 2001, when she was also named to PepsiCo's Board of Directors. Nooyi joined PepsiCo in 1994.
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $63 billion in net revenue in 2017, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 22 brands that generate more than $1 billion each in estimated annual retail sales.
At the heart of PepsiCo is Performance with Purpose – our fundamental belief that the success of our company is inextricably linked to the sustainability of the world around us. We believe that continuously improving the products we sell, operating responsibly to protect our planet and empowering people around the world enable PepsiCo to run a successful global company that creates long-term value for society and our shareholders. For more information, visit www.pepsico.com.
Bluerock Capital Markets, LLC, a distributor of institutional alternative investment products, and the dedicated dealer manager for Bluerock Real Estate ("Bluerock"), announced today that it accomplished another record capital raise of nearly $81 million across all products in the month of December.
The Company reported that a key contributor to this substantial growth in sales in December was a spike in subscriptions for its Series B Redeemable Preferred Stock and Warrants program issued by Bluerock Residential Growth REIT, Inc. ("BRG"). The Company reported more than $22.1 million of new investor capital for this offering in December as compared to $11.6 million in November; a sharp 90% increase.
Further, Bluerock's Total Income+ Real Estate Fund ("TI+ Fund") continues to attract substantial new investor inflows which the Company attributes to its significant outperformance of the broader equity, bond and public real estate indices.
"Advisors are seeking principal protection and income stability in today's highly volatile market and BRG's Series B redeemable preferred stock ranks senior to BRG's publicly traded common stock and pays a 6% annual dividend, paid monthly, said Jeffrey S. Schwaber, CEO of Bluerock Capital Markets. "Further, we continue to generate substantial flows into Bluerock's flagship institutional real estate fund, Total Income+ Real Estate Fund which holds positions in over $181 billion of best-in-class, institutionally-managed holdings. TI+ Fund's A-share (TIPRX) ended the year up 7.07% (TI+ Fund's I-share (TIPWX) up 7.34%) compared to the S&P 500 which was down 4.75%, and the MSCI US REIT Index which was down 4.57%. We are delighted to deliver to our valued financial advisors and their clients a 1,182 and 1,164 basis point beat, respectively, over these two major indices, added Mr. Schwaber.
Based on sales information obtained from industry third-parties, the Company also reports maintaining its ranking as one of the Top 4 Sponsors within the Direct Investment Industry in new capital raised year-to-date through November and continues to be one of the fastest-growing distributors of real estate-related direct investment products marketed through independent broker-dealers and registered investment advisors†.
The Company reports robust equity raises across all three of its product lines, which includes:
About Bluerock Residential Growth REIT
Bluerock Residential Growth REIT, Inc. is a real estate investment trust that focuses on developing and acquiring a diversified portfolio of institutional-quality highly amenitized live/work/play apartment communities in demographically attractive knowledge economy growth markets to appeal to the renter by choice. The Company's objective is to generate value through off-market/relationship-based transactions and, at the asset level, through Core+ improvements to properties and operations. The Company reports assets in excess of $1.9 billion and more than 13,500 apartment units. The Company is included in the Russell 2000 and Russell 3000 Indexes. BRG has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes.
About Total Income+ Real Estate Fund
Bluerock's The Total Income+ Real Estate Fund offers individual investors access to a portfolio of institutional real estate securities managed by top-ranked fund managers with more than $181 Billion of underlying gross asset value and 3,400+ properties. The Fund's primary investment objective is to generate current income while secondarily seeking long-term capital appreciation with low to moderate volatility and low correlation to the broader markets. The Fund utilizes an exclusive partnership with Mercer Investment Management, Inc., the world's leading advisor to endowments, pension funds, sovereign wealth funds and family offices globally, with over 3,300 clients worldwide, and $11 trillion in assets under advisement.
About Bluerock Value Exchange
Bluerock Value Exchange is a national sponsor of syndicated 1031-exchange offerings with a focus on Class A assets that seek to deliver stable cash flows and potential for value creation. Bluerock has structured 1031 exchanges on $1.2 billion in total property value and over eight million square feet of property. With capacity across nearly all real estate sectors and the ability to customize transactions for individual investors, BVEX is available to create programs to accommodate a wide range of tax requirements.
Bluerock is a leading institutional alternative asset manager with over $5.5 billion on Assets Under Management and headquartered in Manhattan with regional offices across the U.S. Bluerock principals have a collective 100+ years of investing experience, have been involved with over $10 billion in investments, and have helped launch leading private and public company platforms.
About Bluerock Capital Markets
Bluerock Capital Markets, LLC serves as the managing broker dealer for Bluerock and is a member of FINRA/SIPC. Formed in 2010, BCM distributes a broad range of institutional investment products with potential for growth, income, and tax benefits exclusively through broker dealers and investment professionals including the Total Income+ Real Estate Fund, Bluerock Residential Growth REIT, Inc., and programs issued by Bluerock Value Exchange, LLC. BCM ranks #4 for capital fundraising in 2018 among all active managing broker-dealers in the Direct Investments Industry†.
† Sources: The Stanger Market PulseTM, Blue Vault, and Mountain Dell report equity sales of public DPP, interval fund, non-listed REIT, 1031-exchange and non-listed BDC products marketed through independent broker-dealers as of November 2018.
The Bluerock Residential Growth REIT and Bluerock Value Exchange are offered by Bluerock Capital Markets, LLC. The Total Income+ Real Estate Fund is distributed by ALPS Distributors Inc. Bluerock Capital Markets, LLC is not affiliated with Alps Distributors, Inc. or Mercer Investment Management, Inc.
Looking to expand its position in the global auto industry, Röchling Automotive USA has hired Michael Brosseau as president, effective January 8. Brosseau brings 30 years of automotive experience, including three as president of a Tier 1 supplier, to the aerodynamics, propulsion and new mobility integrated system solutions provider.
"We are delighted to have Mike, with his extensive automotive industry experience, join our team to grow and lead our business within the North American market," said Erwin Doll, CEO, Röchling Automotive Group. "Röchling has an impressive history of developing solutions to address industry challenges including reducing emissions, weight and fuel consumption. With our industry constantly evolving, we're excited to have Mike help us expand our position in the market and add to our breadth of experience and knowledge."
Brosseau brings his comprehensive expertise and leadership skills to Röchling. He will have responsibility over the company's U.S., Canada and Mexico operations.
"I'm excited to kick off the new year by joining Röchling Automotive," stated Brosseau. "It's a dynamic company in many ways, and I look forward to getting to know the team and working together to achieve, and hopefully exceed, our goals."
Brosseau will report directly to Doll and work out of the company's Technical Center in Troy,MI. He earned a bachelor's degree in mechanical engineering from Kettering University and a Master of Business Administration from the University of Detroit Mercy.
For more on Röchling Automotive, visit www.roechling.com.
With sales of € 1.8 billion and over 10,000 employees at 90 locations in 25 countries, the global Röchling Group stands for competence in plastics. We leverage the unique innovation potential of this material – from semi-finished products right through to complex systems.
The Industrial division supplies almost every sector of industry with optimal, application-oriented materials. To achieve this, Röchling has probably the world's biggest product portfolio of thermoplastics and composite materials. The company manufactures a range of semi-finished parts such as sheets, rods, tubes, flat bars, finished castings and profiles as well as machined and assembled precision components.
The Automotive Division designs and engineers components and system solutions in the fields of aerodynamics, powertrain and new mobility. As part of our customer-oriented and global development approach, we focus on the current challenges facing the automotive industry: reduction of the environmental impact and improvement of the customer experience.
The Medical division offers customers a wide range of standard and tailored plastic products in the fields of pharmaceuticals, diagnostics, surgery and life sciences as well as cardiology, fluid management and ophthalmology. These high-quality products are used in innovative drug delivery systems, primary packaging systems, surgical instruments and disposable diagnostic items.
GDS360 today announced the appointment of Helder Antunes as the company's new Chief Executive Officer.
"We're pleased to have been able to attract an individual with Helder Antunes's experience, particularly in the area of IoT and security," said co-founders John Galinski and Nigel Walker. "Helder's vast experience in Silicon Valley brings a wealth of knowledge in the areas of scaling up businesses and in building a world class global organization. Given his exceptional connections to senior executive management across powerhouse firms in technology, transportation and finance, Helder's ability to open doors for GDS360 will immeasurably benefit our growth and market presence."
Helder Antunes is a high-profile, award-winning, technologist and executive with over 30 years of experience in Silicon Valley. During his tenure as a Cisco Systems executive for 20 years, Helder spearheaded various innovative initiatives from Network Security and Connected Vehicles to the Internet of Things. Antunes's name has become synonymous with fog computing since co-founding and being named Chairman of the OpenFog Consortium in 2015, a consortium founded by tech giants Microsoft, Cisco, Dell, Intel, ARM Holdings, and Princeton University, for the standardization and promotion of fog computing. During his tenure, Antunes led and grew the OpenFog Consortium into a global organization and succeeded in standardizing its reference architecture with IEEE.
GDS360 Executive Chairman Shahal Khan stated, "Our ability to attract such a high-profile industry leader, with a proven track record of execution, as Helder Antunes, is only a testament to the trajectory that GDS360 is taking and to the hard work and innovation that's been put into our DMOS™ data security platform."
"I am very excited to begin working with the exceptional team at GDS360 to deliver a quality security platform with a stellar business organization behind it, so that we can guide GDS360 in scaling to the next stage of our global growth," says Antunes.
GDS360 is a data security firm providing unique cyber security solutions. The firm's data management operating system, known as DMOS™, uses a blend of quantum-proof, hierarchical encryption and deep AI analytics to provide persistent data security across varied platforms, domains, clouds, and disparate technologies from legacy systems to chip-level hardware and IoT. Fully compliant to HIPAA and GDPR regulations, GDS360's DMOS™ system is used by healthcare firms, financial institutions, and government agencies across the globe.