- Push-out Score suggests push-out forces
- After eight years in the position
- Praise and thanks for Greisch
- Search for a successor
- Greisch spoke at length and said 116 words
(exechange) — Chicago, Illinois, January 26, 2018 — John Greisch, chief executive of Hill-Rom, leaves. As announced by Hill-Rom Holdings, Inc. in a news release and in a regulatory filing published on Friday, January 26, 2018, John J. Greisch leaves his post as chief executive officer at the medical technology company after eight years in the position, effective during the company’s fiscal third quarter.
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 9.2 years, according to data compiled by exechange.
Hill-Rom will undertake a search for a successor.
“This is the right time for me personally, and for the company”
Greisch’s departure from the CEO post is explained as follows. Greisch said: “This is the right time for me personally, and for the company, to transition to the next generation of leadership.”
Precise information about Greisch’s future plans was not immediately available.
Hill-Rom said: “John J. Greisch, 62, president and chief executive officer, has informed the board of directors of his intention to retire from Hill-Rom during the company’s fiscal third quarter.”
Hill-Rom further said: “On January 25, 2018, Mr. John J. Greisch notified the Board of Directors of his intent to retire from his position as president and chief executive officer of the Corporation, effective during the Corporation’s fiscal third quarter.”
Share price rise since November 2016
The change follows a rise in the share price of Hill-Rom Holdings, Inc. since November 2016.
Chaired by Rolf Classon
Hill-Rom Holdings, Inc. is chaired by Rolf Classon.
Classon became Chairman of the Board of Hill-Rom in 2006.
In the position of CEO since 2010
Greisch was elected President & Chief Executive Officer of Hill-Rom effective January 8, 2010.
Greisch was most recently President International Operations for Baxter International, Inc., a position he held since 2006.
During his seven-year tenure with Baxter, he also served as Baxter’s Chief Financial Officer and as President of Baxter’s BioScience division.
Before his time with Baxter, he was President & CEO for FleetPride Corporation in Deerfield, Illinois, an independent after-market distribution company serving the transportation industry.
Prior to his tenure at FleetPride, he held various positions at The Interlake Corporation in Lisle, Illinois, a leading global engineered materials and industrial equipment supplier, including serving as President of the company’s Materials Handling Group.
Greisch currently serves on the Board of Directors of Idorsia Pharmaceuticals Ltd. and AdvaMed, and previously served on the Board of Directors of Actelion Ltd.
Additionally, he is on the Board of Directors for Ann & Robert H. Lurie Children’s Hospital of Chicago.
Through January 2010, Greisch served as a director of TomoTherapy, Inc.
At the effective time of the retirement, Greisch will also step down from the board of directors of the company.
As a general rule, when a top leader announces to step down with no successor in place, it is a signal that the move was unexpected and too early.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered John Greisch’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 ($).