- Push-out Score suggests push-out forces
- After around nine years in the position
- Accolades, praise and thanks for Cordeiro
- Erica McLaughlin taking over
(exechange) — Boston, Massachusetts, April 23, 2018 — Eddie Cordeiro, finance chief of Cabot, leaves the position. It is a change at short notice. As announced by Cabot Corporation in a news release and in a regulatory filing published on Monday, April 23, 2018, Eduardo E. (Eddie) Cordeiro leaves his post as chief financial officer at the specialty chemicals and performance materials company after around nine years in the position, effective May 15, 2018.
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.
Cordeiro leaves the company effective December 31, 2018.
Cordeiro’s duties will be taken over by Erica McLaughlin, currently vice president of business operations for the Reinforcement Materials segment and general manager of the tire business of Cabot Corporation.
No reason given
In the announcement, Cabot did not explicitly explain the reason for Cordeiro’s imminent move, opening the door for speculation.
Precise information about Cordeiro’s future plans was not immediately available.
Generally speaking, it is often a wake-up call for stockholders when a CFO leaves the position at short notice and without a reasonable explanation.
Cabot said: “Eduardo Cordeiro, executive vice president, chief financial officer (CFO) and president of the Americas Region, will retire from Cabot at the end of 2018.”
Cabot further said: “He will step down from these roles effective May 15, 2018 at which time Erica McLaughlin, the Company’s vice president of business operations for Cabot’s Reinforcement Materials segment and general manager of the tire business, will become senior vice president and CFO.”
CEO: Sean D. Keohane
Sean D. Keohane serves as CEO of Cabot Corporation. Keohane became President and Chief Executive Officer of Cabot Corporation in March 2016.
In the position of CFO since 2009
Eduardo E. Cordeiro has been the Chief Financial Officer of Cabot Corporation since February 13, 2009 and has been its Executive Vice President since March 2009.
Cordeiro joined Cabot in 1998 in the corporate planning group.
Since joining the company he has held several senior management positions including vice president corporate strategy, corporate controller, and director of investor relations.
Additionally, he has managed several of Cabot’s operating businesses including as general manager of the fumed metal oxides business, general manager of the supermetals business, as well as leading the superior micropowders business development activities for the company.
Cordeiro is on the board of FMC Corporation, one of the world’s foremost diversified chemical companies with leading positions in agricultural, industrial and consumer markets.
Prior to joining Cabot, Cordeiro was a consultant with the Boston Consulting Group.
Cordeiro earned his MBA from Harvard University and a BA in Economics from Harvard University.
Cordeiro will remain with Cabot in an advisory capacity through the end of the year to assist in a smooth transition.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Eddie Cordeiro’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 18.2018 ($).