- Push-out Score suggests push-out forces
- After around 13 years in the position
- Accolades and praise for Henslee
- Greg Johnson taking over
- Henslee will remain as Executive Vice Chairman at O’Reilly
- Henslee spoke at length and said 123 words
(exechange) — Springfield, Missouri, February 7, 2018 — Greg Henslee, chief executive of O’Reilly, leaves the position. As announced by O’Reilly Automotive, Inc. in a news release and in a regulatory filing published on Wednesday, February 7, 2018, Gregory L. (Greg) Henslee leaves his post as Chief Executive Officer at the auto parts retailer after around 13 years in the position, effective May 8, 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 12 months was 9.3 years, according to data compiled by exechange. Only 36 percent of the CEOs who departed over the past 12 months left the position after more than 10 years.
Henslee’s duties will be taken over by Greg Johnson, currently Co-President at O’Reilly Automotive, Inc.
Henslee’s move is part of a management shake-up also involving the position of Chief Operating Officer.
“His desire to transition into a new role”
A reason for Henslee’s departure from the CEO post was not explicitly given. David O’Reilly, Executive Chairman, said: “After 33 years with Team O’Reilly and 13 years as CEO, Greg has communicated his desire to transition into a new role with the Company.”
Henslee will remain as Executive Vice Chairman at O’Reilly
“Greg Henslee, who currently serves as the Company’s CEO and member of the Board of Directors …, has been nominated as Executive Vice Chairman of the Board and will serve in that role subject to his election as a director at O’Reilly’s upcoming Annual Shareholders’ Meeting in May,” O’Reilly said.
Share price decline
The change follows a decline in the share price of O’Reilly Automotive, Inc. since July 2016.
In the position of CEO since 2005
Henslee has been the Chief Executive Officer of O’Reilly Automotive, Inc. since February 24, 2005.
Greg Henslee, Chief Executive Officer, has been an O’Reilly Team Member since 1984.
Henslee’s O’Reilly career began as a Parts Specialist in a store and progressed through the roles of Assistant Store Manager, District Manager, Computer Operations Manager, Director of Computer Operations and Loss Prevention, Vice President of Store Operations, Senior Vice President, President of Merchandise, Distribution, Information Systems and Loss Prevention, and Chief Executive Officer and Co-President.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Greg Henslee’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 7.2018 ($).