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9 Times Executives Were Poached

9 Times Executives Were Poached

United Continental Holdings Inc (NYSE: UAL) has stepped in and snatched up former American Airlines Group Inc (NASDAQ: AAL) president Scott Kirby.

Luring talent from the workforce of competitors is known as “poaching,” and it’s certainly nothing new on Wall Street, especially in the tech world. Here’s a look at some other companies that have made poaching news in recent years.

Back in 2012, Facebook Inc (NASDAQ: FB) hired COO Sheryl Sandberg away from Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL).

Tesla Motors Inc (NASDAQ: TSLA) poached an entire team of chip makers and executives from Advanced Micro Devices, Inc. (NASDAQ: AMD) earlier this year to help work on the next-generation autopilot feature.

Last year, Apple Inc. (NASDAQ: AAPL), Google, Intel Corporation (NASDAQ: INTC) and Adobe Systems Incorporated (NASDAQ: ADBE) had to pay a $415 million settlement regarding an illegal anti-poaching pact that the companies had entered into to suppress executive pay levels.

When Apple wanted to focus on repackaging its retail stores, the company reached outside of the tech world to poach Burberry CEO Angela Ahrendts.

Earlier this year, Apple hired former Tesla VP of vehicle engineering Chris Porritt to work on “special projects.”

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In 2014, Samsung (OTC: SSNLF) subsidiary Joyent poached Cisco Systems, Inc. (NASDAQ: CSCO) executive Scott Hammond to be the company’s new CEO.

In April, Nestle named former head of German healthcare group Fresenius, Ulf Mark Scheider, the new CEO of Nestle.

In December 2015, Sothebys (NYSE: BID) announced it had poached auction rival Christies’ chairman and president of the Americas Marc Porter.

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