- After around eleven years in the position
- Praise and thanks for Giromini
- Giromini spoke at length and said 186 words
(exechange) — Lafayette, Indiana, December 15, 2017 — Dick Giromini, chief executive of Wabash, hands over the reins. As announced by Wabash National Corporation in a news release on Friday, December 15, 2017, Richard J. (Dick) Giromini leaves his post as Chief Executive Officer at the producer of semi-trailers and liquid transportation systems after around eleven years in the position, effective June 1, 2018.
It is the end of an era.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past twelve months was 8.8 years, according to data compiled by exechange. Only 35 percent of the CEOs who departed over the past twelve months left the position after more than ten years.
Giromini leaves the company effective June 1, 2019.
Giromini’s duties will be taken over by Brent Yeagy, currently President and Chief Operating Officer at Wabash National Corporation.
“It’s the perfect time to step down”
Giromini’s departure from the CEO post is explained as follows. Giromini said: “We have worked diligently from day one to effect a complete transformation of our business from top to bottom, with these efforts culminating in five consecutive years of record performance. … With this transformation now at a good stage, it’s the perfect time to step down.”
Precise information about Giromini’s future plans was not immediately available.
Wabash said: “Richard J. Giromini, Chief Executive Officer, notified the Company that he will step down from his position as Chief Executive Officer on June 1, 2018.”
Wabash further said: “To support Mr. Yeagy in his new role, Mr. Giromini will remain with the Company, serving in the role of Executive Advisor through June 1, 2019, following which he will retire from Wabash National.”
Share price rise since November 2016
The change follows a rise in the share price of Wabash National Corporation since November 2016.
Chaired by Martin C. Jischke
Wabash National Corporation is chaired by Martin C. Jischke.
He first joined the Wabash National Board of Directors in January 2002 and was elected Chairman of the Board in 2007.
In the position of CEO since 2007
Giromini has served as the Company’s Chief Executive Officer since January 2007, while also serving as the Company’s President until October 2016.
Previously, Giromini served as the Company’s Executive Vice President and Chief Operating Officer from February 2005 until December 2005, when he was appointed President and a Director of the Company.
Giromini joined the Company in July 2002, as Senior Vice President – Chief Operating Officer.
Earlier experience includes 26 years in the transportation industry, having begun his career with General Motors Corporation (1976 – 1985), serving in a variety of positions of increasing responsibility within the Tier 1 automotive sector, most recently with Accuride Corporation (Senior Vice President and General Manager), AKW LP (President and CEO), and ITT Automotive (Director of Manufacturing).
Giromini holds a Master of Science degree in Industrial Management and a Bachelor of Science degree in Mechanical and Industrial Engineering, both from Clarkson University.
He is also a graduate of the Advanced Management Program at the Duke University Fuqua School of Management.
Read the full story in the exechange report 51.2017 ($).