Bed Bath & Beyond CIO Promoted to Chief Strategy Officer
By CIO Staff
Last week, high-flying Bed Bath & Beyondpromoted its CIO, Richard McMahon, to a newly created position. McMahon is now chief strategy officer and vice president of corporate operations. He’s the second CIO I can think of who’s taken on corporate strategy. Ford’s Marv Adams is the first one who comes to my mind. I think we’ll see more CIOs moving into strategy in 2006. In McMahon’s new role, he will continue to oversee IT and the Union, N.J.-based retailer’s supply chain. He joined the company in August 1998 and was appointed CIO a year later. He added VP of supply chain to his title in November 2001. Based on McMahon’s success at such a successful company, I’d say this guy is one to watch.
On January 31, Bennett Gaines (pictured at left) will assume the CIO role at FirstEnergy. He currently works for Cinergy, which is merging with Duke Energy, as the Cincinnati-based energy company’s VP and CTO. Gaines succeeds C. John Daugherty, who has served as interim VP and CIO since September 2005. Before joining Cinergy in 2001, Gaines was managing director of business services for Powergen in the United kingdom.