- Push-out Score suggests push-out forces
- After about six and a half years in the position
- Accolades, praise and thanks for Robb
- Kevin Jacobsen taking over
- Robb said 47 words
(exechange) — Oakland, California, January 22, 2018 — Steve Robb, finance chief of Clorox, leaves. As announced by The Clorox Company in a news release and in a regulatory filing published on Monday, January 22, 2018, Stephen M. (Steve) Robb leaves his post as Chief Financial Officer at the maker of liquid bleach, water filters and Glad trash bags after about six and a half years in the position, effective April 1, 2018.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CFOs who departed over the past twelve months was 5.9 years, according to data compiled by exechange.
Robb’s duties will be taken over by Kevin Jacobsen, currently vice president – Financial Planning & Analysis at The Clorox Company.
No reason given
In the announcement, Clorox did not explicitly explain the reason for Robb’s move, leaving room for speculation.
Precise information about Robb’s future plans was not immediately available.
Clorox said: “Chief Financial Officer Stephen M. ‘Steve’ Robb has announced his decision to retire from the company.”
Clorox further said: “On January 17, 2018, Stephen M. Robb, Executive Vice President – Chief Financial Officer of The Clorox Company …, provided notice of his intention to retire from the Company on March 31, 2018, following 29 years of service with the Company.”
Share price rise since November 2016
The change follows a rise in the share price of The Clorox Company since November 2016.
Chaired by Benno Dorer
The Clorox Company is chaired by Benno Dorer.
Benno Dorer was elected chief executive officer of the company in November 2014 and appointed chairman of the board effective August 15, 2016.
In the position of CFO since 2011
Stephen M. Robb has been the Chief Financial Officer of the Clorox Company since November 16, 2011.
Robb was named executive vice president – chief financial officer in 2014 after three years as senior vice president – chief financial officer.
In this role, he is the senior executive responsible for Clorox’s financial activities, including accounting, reporting, internal Controls, treasury, tax and investor relations.
Prior to being named CFO, Robb served as vice president – Global Finance, with responsibility for the company’s day-to-day finance operations, including tax, treasury, accounting, and financial planning and analysis. Other positions with Clorox have included vice president – Financial Planning and Analysis and vice president – Finance and Accounting, Household Segment.
Robb joined Clorox in 1989 and has held assignments in several business units as well as a variety of corporate staff positions.
Since 2004, Robb has overseen The Clorox Company’s cost savings efforts, a key strategic commitment for the company under its 2020 Strategy.
Under his stewardship, cost savings efforts have produced an average of $100 million in savings annually.
A native of Sunnyvale, Calif., Robb holds a bachelor’s degree in finance with a minor in economics from San Jose State University.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Steve Robb’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.
Read the full story in the exechange report 5.2018 ($).