Hy-Vee invites scrutiny with decision to divide executive power
August 30, 2022 – Media MentionAndrew Apfelberg, Corporate, Finance & Securities partner, shared his perspective on Hy-Vee's decision to appoint Aaron Wiese and Jeremy Gosch as co-CEO's of the company — a shift in plans from their original course of action. According to Apfelberg, appointing two CEOs can simply be a decision made to avoid losing an experienced executive.
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“You don’t want to lose loyal people. So you still need to provide a path or a trajectory for growth, whether it’s financial growth, title growth, scope of responsibility growth,” said Apfelberg.
“Ideally, you’re picking people who work well together and have similar visions to reduce the chances of that happening, but I think that if that were to occur, it would go to the board and the board would ultimately pick one of you or the other,” Apfelberg said.