Core-Mark CEO Tom Perkins leaves

  • Push-out Score suggests push-out forces
  • After about five and a half years in the position
  • Accolades, praise, thanks and good wishes for Perkins
  • Scott McPherson taking over
  • Perkins spoke at length and said 79 words

(exechange) — South San Francisco, California, March 1, 2018 — Tom Perkins, chief executive of Core-Mark, leaves. As announced by Core-Mark Holding Company, Inc. in a news release and in a regulatory filing published on Thursday, March 1, 2018, Thomas B. (Tom) Perkins leaves his post as Chief Executive Officer at the provider of fresh and frozen goods to convenience stores after about five and a half years in the position, effective June 30, 2018.

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 9.1 years, according to data compiled by exechange.

Perkins’s duties will be taken over by Scott E. McPherson, currently President and Chief Operating Officer of Core-Mark Holding Company, Inc.

“I have been evaluating my retirement for some time”

Perkins’s departure from the CEO post is explained as follows. Perkins said: “I have been evaluating my retirement for some time, and in working through succession with the Board, we knew we were fortunate to have an outstanding CEO-in-waiting in Scott.”

Precise information about Perkins’s future plans was not immediately available.

“Retire”

Core-Mark said: “Thomas B. Perkins, Chief Executive Officer, will retire on June 30, 2018 and will also step down from the Board of Directors.”

Share price decline

The change follows a decline in the share price of Core-Mark Holding Company, Inc. since July 2016.

Chaired by Randy Thornton

Core-Mark Holding Company, Inc. is chaired by Randy Thornton.

Randolph I. Thornton, 70, has served as a Director and Chairman of the Board of Directors since August 2004.

In the position of CEO since 2013

Thomas B. Perkins has served as the Company’s President, Chief Executive Officer and Director since January 18, 2013.

From June 2007 to January 2013, Perkins served as the Company’s Senior Vice President – Resources.

From September 2003 to June 2007, Perkins served as Vice President – U.S. Divisions and from January 2001 to August 2003, he served as the President of the Arizona distribution center.

From September 1996 to December 2000, Perkins served as the President of the Company’s Spokane distribution center and from August 1993 to August 1996 served as Controller of the Company’s Los Angeles distribution center.

Prior to joining Core-Mark, Perkins was a Controller with Pepsi-Cola Company from 1989 to 1993 and a Certified Public Accountant and consultant with Arthur Andersen from 1985 to 1987.

Perkins received a Bachelor of Science degree from Northern Arizona University.

Push-out Score suggests push-out forces

It is not completely certain what forces eventually triggered Tom Perkins’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 10.2018 ($).