- Push-out Score suggests push-out forces
- After around seven years in the position
- Accolades, praise and good wishes for Galgano
- Bill Wafford taking over
(exechange) — Secaucus, New Jersey, May 18, 2018 — Brenda Galgano, finance chief of Vitamin Shoppe, leaves. It is a change at short notice. As announced by Vitamin Shoppe, Inc. in a news release and in a regulatory filing published on Friday, May 18, 2018, Brenda M. Galgano leaves her post as Chief Financial Officer at the specialty retailer of nutritional products after around seven years in the position, effective June 5, 2018.
Galgano’s move comes three months after Alexander W. Smith took over as Chairman of Vitamin Shoppe, Inc.
Galgano’s duties will be taken over by Bill Wafford, currently SVP Business Development and Strategy of Vitamin Shoppe, Inc.
“To take a position at another company”
Galgano’s imminent departure from the CFO post is explained as follows. Vitamin Shoppe said: “On May 17, 2018, Brenda Galgano resigned from her current position as Executive Vice President—Chief Financial Officer of Vitamin Shoppe, Inc. …, effective June 5, 2018, in order to take a position at another company.”
Precise information about Galgano’s future plans was not immediately available.
Generally speaking, it is often an alarm signal for investors when a CFO leaves the position at short notice and without a reasonable explanation.
Vitamin Shoppe said: “Brenda Galgano, EVP and Chief Financial Officer has resigned her position effective June 5, 2018 to take a position at another company.”
“Resignation did not involve any disagreement”
“Ms. Galgano’s resignation did not involve any disagreement with the Company with regard to its operations, policies or practices,” Vitamin Shoppe said.
It is a phrase that may be intended to prevent false rumors. It may also fuel further speculation and raise more questions than it answers. Such a phrase should be read very carefully. The exact wording may be insightful.
Share price decline
The change follows a decline in the share price of Vitamin Shoppe, Inc. since February 2013.
Chaired by Alexander W. Smith
Vitamin Shoppe, Inc. is chaired by Alexander W. Smith.
In February 2018 Alexander Smith was appointed Executive Chairman.
CEO: Colin Watts
Colin Watts serves as CEO of Vitamin Shoppe, Inc.
Colin Watts has served as the Company’s Chief Executive Officer since April 6, 2015.
Prior to joining Vitamin Shoppe, Watts was President of Weight Watchers Health Solutions from July 2013 to March 2015.
In the position of CFO since 2011
Brenda M. Galgano has been Chief Financial Officer and Executive Vice President of Vitamin Shoppe, Inc. since March 3, 2011.
Brenda Galgano is the Executive Vice President and Chief Financial Officer of the Vitamin Shoppe.
In this capacity, she has leadership responsibility for all the financial functions of the company. Galgano joined the company in 2011.
Prior to joining the Vitamin Shoppe she was Senior Vice President, Chief Financial Officer and Treasurer of The Great Atlantic & Pacific Tea Company (A&P).
Galgano has more than 25 years of experience in key leadership positions in finance, strategic planning, acquisitions and accounting.
Her decade long career with A&P included extensive accounting, financial reporting/planning, risk management and leadership experience, including CFO.
Prior to joining A&P, Galgano was employed by PriceWaterhouseCoopers where her last position was Senior Manager, Assurance and Business Advisory Services.
Galgano holds a B.S. in Business Administration – Accounting from Bryant University and is a Certified Public Accountant.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Brenda Galgano’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 21.2018 ($).