Automotive
Irvine-based Mazda North American Operations hired Dino Bernacchi as chief marketing officer, a new position. He will “oversee all aspects of brand communications” in the U.S., some of which Vice President of Marketing Russell Wager had been responsible for since 2012. Wager will now report to Bernacchi and continue to oversee Mazda’s external communications.
Education
California State University-Fullerton’s fourth president, Milton Gordon, died after a long illness. He was 81. Gordon took the post in August 1990 and served for more than two decades, strengthening student recruitment and retention programs and forming partnerships with public and private entities.
Whittier College’s board of trustees said Whittier’s law school in Costa Mesa won’t enroll a new class in the fall and that “at the appropriate time, the program of legal education will be discontinued.” Currently enrolled students “will have an opportunity to complete their degree in a timely fashion.” A statement on the law school’s website cited “challenges affecting our law program in recent years.”
Finance
California State University-Fullerton received a grant of nearly $3 million from the National Science Foundation to help it strengthen teaching and learning of math in underserved middle schools and high schools in and around Orange County. Experienced math teachers from high-need school districts that serve English language learners and students from low-income families, will each receive a $17,000 annual stipend. The fellows must commit to working in their districts for five years.
Former Banc of California Chief Executive Steven Sugarman received an $18.2 million pay package in the past year, according to the company’s proxy released last week. The Santa Ana-based bank paid him $10.1 million in compensation last year, about four times the 2015 amount, the filing said. The biggest reasons were $7 million in stock and bonus compared to $1.75 million for the same categories in 2015. Sugarman resigned in January following controversies over how the bank handled allegations by an anonymous blogger. The Securities and Exchange Commission is investigating the matter.
Manufacturing
True Drinks Holdings Inc. in Irvine named James Greco chief executive. He’s principal, president and chief executive of investor Pilgrim Holdings LLC in Delray Beach, Fla., and joined True Drinks’ board on Feb. 6. Former True Drinks Chief Executive Kevin Sherman retains the role of president. The company makes a bottled water product for kids.
Restaurants
Irvine-based fast-casual hamburger restaurant operator Habit Restaurants Inc. named Douglas Branigan chief development officer. He was most recently chief development officer of Black Bear Diners Inc. in Redding, Calif.
Technology
Newport Beach-based start-up Veritone Inc. will sell 1.25 million shares of common stock valued between $14 and $16 per share under terms of its initial public offering, according to a Securities and Exchange Commission filing. It projects net proceeds of $15.7 million, or $18.3 million if underwriters exercise their option to purchase additional shares in full, based on the price range’s midpoint. Veritone applied to list its stock on the Nasdaq Capital Market under the symbol VERI. Its market value is estimated at approximately $200 million.
