- After about four and a half years in the position
- Thanks and good wishes for Carrigan
- Tom Manning taking over in the interim
- Search for a successor
(exechange) — Short Hills, New Jersey, February 12, 2018 — Bob Carrigan, chief executive of Dun & Bradstreet, leaves — “by mutual agreement”. It is an abrupt change. As announced by The Dun & Bradstreet Corporation in a news release and in a regulatory filing published on Monday, February 12, 2018, Robert P. (Bob) Carrigan leaves his post as Chief Executive Officer at the company that provides commercial data, analytics and insights for business after about four and a half years in the position, effective immediately.
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 9.2 years, according to data compiled by exechange.
Dun & Bradstreet will undertake a search for a successor.
Carrigan’s duties will be taken over in the interim by Tom Manning, most recently Lead Director of The Dun & Bradstreet Corporation.
“The Board believes now is the right time to transition the Company’s leadership”
Carrigan’s sudden departure from the CEO post is explained as follows. James Fernandez, new Lead Director of the Board, said in a fairly blunt statement: “As Dun & Bradstreet continues its work to drive sustainable growth, the Board believes now is the right time to transition the Company’s leadership.”
Precise information about Carrigan’s future plans was not immediately available.
Dun & Bradstreet said: “Mr. Manning’s appointment follows Robert Carrigan’s decision to step down as Chairman of the Board, Chief Executive Officer, and as a director of the Company, by mutual agreement with the Dun & Bradstreet Board of Directors.”
Dun & Bradstreet further said: “On February 12, 2018, Robert P. Carrigan, the principal executive officer of the Company, stepped down by mutual agreement with the Board from his positions as Chief Executive Officer of the Company, director and Chairman of the Board of Directors of the Company …, effective immediately.”
Share price decline
The change follows a decline in the share price of The Dun & Bradstreet Corporation since August 2016.
In the position of CEO since 2013
Carrigan has served as the Company’s Chairman of the Board since December 7, 2016, and as the Company’s Chief Executive Officer since October 2013.
He also served as the Company’s President from October 2013 until November 2015.
Prior to that, Carrigan served as Chief Executive Officer of IDG Communications, Inc., a leading technology media, events and research company, from April 2008 until September 2013, where he led the company’s media operations, including online, print and events in 90 countries.
Under Carrigan’s leadership, IDG Communications transformed from a print publisher to a leading digital media company and the worldwide leader in the technology event and media space.
Prior to becoming Chief Executive Officer of IDG Communications, Carrigan held senior leadership roles of increasing responsibility, including President of IDG Communications US from April 2005 until March 2008 and Chief Executive Officer, President and Publisher of Computerworld from May 2003 until April 2005.
Previously, Carrigan spent four years at America Online, Inc., where he was Senior Vice President in the Interactive Marketing Group from April 1999 to March 2003.
He has not served as a director of any other public company in the last five years.
Carrigan will be available as requested by the Board and management team to assist with the transition process.
Read the full story in the exechange report 8.2018 ($).