- Push-out Score suggests push-out forces
- After about 13 years in the position
- Praise, thanks and good wishes for Niblock
- Search for a successor
- Niblock spoke at length and said 117 words
(exechange) — Mooresville, North Carolina, March 26, 2018 — Robert Niblock, chief executive of Lowe’s, leaves. As announced by Lowe’s Companies, Inc. in a news release on Monday, March 26, 2018, Robert A. Niblock leaves his post as Chief Executive Officer at the retail company after about 13 years in the position.
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 9.4 years, according to data compiled by exechange. Only 37 percent of the CEOs who departed over the past 12 months left the position after more than 10 years.
The board of directors has initiated a search for his successor, and in the interim Niblock will remain in his current role as chairman, president and CEO.
“The right time to transition the company to its next generation of leadership”
Niblock’s departure from the CEO post is explained as follows. Niblock said: “After a 25-year career at Lowe’s, including 13 years as chairman and CEO, I am confident that it is the right time to transition the company to its next generation of leadership.”
Precise information about Niblock’s future plans was not immediately available.
Lowe’s said: “Robert A. Niblock plans to retire as chairman, president and CEO after a 25-year career with the company.”
In the position of CEO since 2005
Robert Alan Niblock has been the Chief Executive Officer of Lowe’s Companies, Inc. since January 28, 2005.
Niblock has served as Chairman and Chief Executive Officer of Lowe’s since January 2005.
In May 2011, he reassumed the title of President, after having served in that role from 2003 to 2006.
Niblock joined Lowe’s in 1993, and during his career with the Company, has served as Vice President and Treasurer, Senior Vice President-Finance, and Executive Vice President and Chief Financial Officer.
Before joining Lowe’s, Niblock had a nine-year career with the accounting firm Ernst & Young LLP.
Niblock has been a member of the board of directors of the Retail Industry Leaders Association (RILA) since 2004 and has served as Secretary since 2012.
He previously served as its Chairman in 2008 and 2009 and Vice Chairman in 2006 and 2007.
As a general rule, when a top leader announces to step aside 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 Robert Niblock’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 14.2018 ($).