- Push-out Score suggests push-out forces
- After around seven years in the position
- Accolades, praise and thanks for Billerbeck
- Glen Hawk taking over in the interim
- Search for a successor
- Billerbeck spoke at length and said 104 words
(exechange) — Portland, Oregon, March 12, 2018 — Darin Billerbeck, chief executive of Lattice, leaves the position. It is a change at short notice. As announced by Lattice Semiconductor Corporation in a news release and in a regulatory filing published on Monday, March 12, 2018, Darin G. Billerbeck leaves his post as Chief Executive Officer at the maker of connectivity products after around seven years in the position, effective March 16, 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 9.2 years, according to data compiled by exechange.
Billerbeck leaves the company effective May 31, 2018.
Lattice will undertake a search for a successor.
Billerbeck’s duties will be taken over in the interim by Glen Hawk, currently Chief Operating Officer of Lattice Semiconductor Corporation.
No reason given
In the announcement, Lattice did not explicitly explain the reason for Billerbeck’s imminent move, leaving room for speculation.
Precise information about Billerbeck’s future plans was not immediately available.
Generally speaking, it is often an alarm signal for stockholders when a CEO leaves the post at short notice and without a reasonable explanation.
Lattice said: “Lattice Semiconductor Corporation … today announced that its President and Chief Executive Officer, Darin G. Billerbeck, has decided to retire and will also step down from the Company’s Board of Directors on March 16, 2018.”
Share price decline
The change follows a decline in the share price of Lattice Semiconductor Corporation since April 2014.
Chaired by John Bourgoin
Lattice Semiconductor Corporation is chaired by John Bourgoin.
John Bourgoin joined the Company’s Board of Directors in September 2011.
In the position of CEO since 2010
Billerbeck has been the Chief Executive Officer and President at Lattice Semiconductor Corporation since November 11, 2010.
Prior to joining the Company, Billerbeck served as the Chief Executive Officer of Zilog, a microcontroller manufacturer, which was acquired by IXYS Corporation in February 2010.
Prior to joining Zilog in January 2007, Billerbeck served 18 years in various executive and management positions at Intel Corporation, a global technology company, including as Vice President and General Manager of Intel’s Flash Products Group from 1999 to 2007.
Billerbeck will remain with the Company until May 31, 2018 to help ensure a smooth transition.
As a general rule, when a top manager announces to step aside with no permanent successor available, it is a signal that the move was unplanned and too early.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Darin Billerbeck’s imminent 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 12.2018 ($).