Luxury ETG supplier Interblock has announced that long-time CEO John Connelly has stepped down from the role as part of what the company is calling a “CEO transition”.
Bala Ganesan, Interblock’s former interim Chief Operating Officer and a Managing Director at Oaktree Capital Management, L.P. will serve as interim CEO while a comprehensive search is conducted for a permanent successor, it added. Oaktree-advised investment funds own a majority of the equity interests in Interblock.
“As the Company enters its next phase of growth and innovation, the Board is focused on building a world-class, scalable operating platform and ensuring Interblock is led by the right executive to capitalize on emerging opportunities and sustain its strong growth trajectory,” said Interblock board member David Quick.
“We are fortunate to have Bala step in as interim CEO at this important time. During his tenure as interim COO, Bala demonstrated outstanding leadership, operational expertise and a deep understanding of our business and industry. The Board has full confidence in his ability to guide Interblock through this transition and ensure we continue to deliver value to our customers and partners.”
The company explained that Ganesan brings extensive executive leadership and business transformation experience through his role as a Managing Director on the Portfolio Transformation team at Oaktree. He joined Oaktree in 2017 from Yum! Brands, where he led major growth initiatives and the operational and digital transformation of Taco Bell.
Ganesan previously led corporate and business strategy, commercial growth and turnaround initiatives at Kimberly-Clark Corporation and Mattel, Inc and served as a senior leader in McKinsey & Company’s operational transformation practice, advising Fortune 500 companies across the consumer, technology, manufacturing, medical devices, energy and financial services sectors.
He acted as Interblock’s interim COO from 2024 to 2025.
“Interblock is exceptionally well positioned for continued growth, underpinned by a talented team, industry-leading innovation and strong customer partnerships,” Ganesan said. “I am honored to support the company during this transition and remain on serving our customers and partners.”
Interblock stated that it remains “fully committed to advancing its strategic priorities and delivering the high-quality products and services that define the Interblock brand”.
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