PRA Health CFO Linda Baddour leaves post at short notice

  • Push-out Score suggests push-out forces
  • After almost 11 years in the position
  • Praise, thanks and good wishes for Baddour
  • Mike Bonello taking over
  • Baddour said 67 words

(exechange) — Raleigh, North Carolina, April 25, 2018 — Linda Baddour, finance chief of PRA Health, leaves. It is a change at short notice. As announced by PRA Health Sciences, Inc. in a news release and in a regulatory filing published on Wednesday, April 25, 2018, Linda Baddour leaves her post as Chief Financial Officer at the research company after almost 11 years in the position, effective May 1, 2018.

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 CFOs who departed over the past 12 months was 6.4 years, according to data compiled by exechange. Only 24 percent of the CFOs who departed over the past 12 months left the position after more than 10 years.

Baddour’s duties will be taken over by Michael J. (Mike) Bonello, currently Senior Vice President, Accounting and Corporate Controller of PRA Health Sciences, Inc.

No reason given

In the announcement, PRA Health did not explicitly explain the reason for Baddour’s imminent move, leaving room for speculation.

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

“Retire”

PRA Health said: “Linda Baddour, Executive Vice President and Chief Financial Officer will retire from her position as CFO, effective May 1, 2018.”

PRA Health further said: “On April 24, 2018, Linda Baddour announced her decision to retire as Chief Financial Officer of PRA Health Sciences, Inc. …, effective as of May 1, 2018.”

Share price rise since November 2014

The change follows a rise in the share price of PRA Health Sciences, Inc. since November 2014.

Chaired by Colin Shannon

PRA Health Sciences, Inc. is chaired by Colin Shannon.

On January 1, 2010, Shannon was named PRA’s President and Chief Executive Officer and as a director of the Company. He is currently the Chairman of the Company’s Board.

In the position of CFO since 2007

Linda Baddour was named Executive Vice President and Chief Financial Officer (CFO) in June 2007.

She has a proven track record in managing the financial activities of a fast-growing, global clinical research firm.

From 2002 to 2007, Baddour was CFO at Pharmaceutical Product Development, Inc. (PPD).

During her tenure as PPD’s CFO, the company posted greater than 20% annual revenue growth and industry-leading margins, while consistently meeting revenue and earnings targets.

Baddour also managed M&A and information technology.

Baddour earned her MBA from the University of North Carolina at Wilmington and is also a certified public accountant.

Baddour will remain as Executive Vice President of the Company through September 30, 2018, to assist with the transition of her responsibilities and act as a special advisor to the Chairman and Chief Executive Officer.

Push-out Score suggests push-out forces

It is not completely certain what forces eventually triggered Linda Baddour’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 ($).