CEO / CFO Change Monday! (DSTI, LF, KCP, OII, ATI)

This week has started off with five CEO changes in major companies: DayStar Technologies (NASDAQ: DSTI), LeapFrog Enterprises (NYSE: LF), Kenneth Cole Productions (NYSE: KCP), Oceaneering International (NYSE: OII), and Allegheny Technologies (NYSE: ATI).

DayStar announced that Magnus Ryde has resigned from his dual roles as Chief Executive Officer and Director of DayStar, effective today, in order to pursue other opportunities. Peter Lacey, DayStar's Chairman of the Board, has been appointed to the additional position of Interim Chief Executive Officer, effective today. Ryde commented, “I am grateful for the opportunity to have led DayStar throughout this past year and am confident that the progress we have made to restructure our balance sheet and in discussions with potential strategic partners have DayStar well positioned for near-term success.”

LeapFrog today named industry veteran and former Toys “R” Us executive John Barbour as the company's new CEO and as a member of the Board of Directors. Current CEO William Chiasson has been appointed Chairman of the Board. These changes are effective March 7, 2011. “John has a 25-year track record of building global consumer and internet businesses in both traditional retail and direct-to-consumer environments," Chiasson said.

Kenneth Cole Productions today announced that the company and CEO Jill Granoff have mutually agreed that Ms. Granoff will leave her position as CEO of the Company and resign her seat on the Company's Board, effective immediately. Chairman and Chief Creative Officer Kenneth Cole will act as Interim CEO. In addition, former President Paul Blum will return to the company as Vice Chairman. “We believe that our business is now positioned to take advantage of significant untapped opportunities for growth,” said Chief Financial Officer David Edelman. “We have closed our underperforming stores, put new leadership in place and, once the near-term impact of our decision to close underperforming stores is behind us, we expect to see a financial benefit that far outweighs these short-term costs.”

Oceaneering announced that T. Jay Collins will retire from his position as President and CEO, immediately following the 2011 Annual Meeting of Shareholders, scheduled for May 6, 2011. M. Kevin McEvoy, the company's Executive Vice President and Chief Operating Officer, has been designated to succeed Mr. Collins as President and CEO.
T. Jay Collins stated, “I am very pleased to turn over the executive leadership of Oceaneering to such a qualified and experienced individual as Kevin, who I have worked with since I joined the company in 1993. I am confident he will continue to manage and plan for the growth of Oceaneering and am positive our business strategy of focusing on deepwater services and products will continue to prosper under his direction.”

Finally, Allegheny Technologies announced today that L. Patrick Hassey will retire as Chairman and CEO, effective May 1, 2011. The ATI Board of Directors has selected Richard J. Harshman to serve as Chairman, President and CEO, also effective May 1, 2011. “Over the past several years, the Company has been transformed into a stronger, more efficient, and diversified specialty metals company with unsurpassed manufacturing capabilities,” said Mr. Hassey. “ATI is well-positioned for continued profitable growth as our key global markets expand in the coming years. Now is the right time for a change in leadership, and we expect a smooth transition to occur over the next few months.”

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