- Push-out Score suggests push-out forces
- After about seven years in the position
- Accolades, praise, thanks, words of regret and good wishes for Laplante
- Search for a successor
- Laplante spoke at length and said 83 words
(exechange) — Santa Clara, California, April 18, 2018 — George Laplante, finance chief of Ambarella, leaves. As announced by Ambarella, Inc. in a news release and in a regulatory filing published on Wednesday, April 18, 2018, George W. Laplante leaves his post as Chief Financial Officer at the fabless semiconductor design company after about seven years in the position.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CFOs who departed over the past 12 months was 6.3 years, according to data compiled by exechange.
Laplante, who joined the company in 2011, intends to remain in his current role until a successor is named and an orderly transition is completed.
Ambarella will undertake a search for a successor.
No reason given
In the announcement, Ambarella did not explicitly explain the reason for Laplante’s move, leaving room for speculation.
Precise information about Laplante’s future plans was not immediately available.
Ambarella said: “George Laplante, the company’s CFO, will retire later this year.”
CEO: Fermi Wang
Feng-Ming (Fermi) Wang serves as CEO of Ambarella, Inc. Wang co-founded Ambarella, Inc. in 2004 and serves as its Executive Chairman, Chief Executive Officer and President.
In the position of CFO since 2011
George W. Laplante has served as the Company’s Chief Financial Officer since March 2011.
From May 2009 to March 2011, Laplante served as a management consultant and interim chief financial officer to several private technology companies.
From March 2007 to May 2009, Laplante served as the Chief Financial Officer and Secretary of Santur Corporation, a manufacturer of laser technology for the communications industry.
From September 2000 to December 2006, Laplante served as the Chief Financial Officer and Secretary of 2Wire, Inc., a provider of broadband services platforms.
Prior to joining 2Wire, Laplante held finance and management positions at Action Computer Supplies Holdings Plc., ACS Distribution, Inc., Arneson Marine, Inc., Molecular Computer, and Televideo Systems, Inc. Laplante began his career as a CPA with Arthur Andersen & Company.
Laplante holds a B.A. degree in Economics from Southern Connecticut State College and a Masters in Accountancy from Bowling Green State University.
Generally speaking, when a top leader announces to step aside with no successor in place, it is a sign that the change was unexpected and too early.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered George Laplante’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 17.2018 ($).