- Push-out Score suggests push-out forces
- After less than three and a half years in the position
- Praise and thanks for Tachibana
- Chris Coldren taking over in the interim
- Search for a successor
(exechange) — Milpitas, California, June 7, 2018 — Aaron Tachibana, finance chief of Lumentum, leaves the position. It is an abrupt change. As announced by Lumentum Holdings Inc. in a news release on Thursday, June 7, 2018, Aaron L. Tachibana leaves his post as Chief Financial Officer at the telecommunications equipment company after less than three and a half years in the role, effective immediately.
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 6.7 years, according to data compiled by exechange.
Tachibana leaves the company effective August 31, 2018.
Lumentum will undertake a search for a successor.
Tachibana’s duties will be taken over in the interim by Chris Coldren, most recently Senior Vice President Strategy and Corporate Development of Lumentum Holdings Inc.
“To pursue other interests”
Tachibana’s sudden departure from the CFO post is explained as follows. Lumentum said: “Aaron Tachibana, Executive Vice President and Chief Financial Officer, has resigned from the company to pursue other interests and will remain with the Company through a transition period which will end on August 31, 2018.”
The phrase “to pursue other interests” opens the door to speculation.
Precise information about Tachibana’s future plans was not immediately available.
“Not related to any issues”
“Mr. Tachibana’s departure is not related to any financial performance, policy, or control issues or any disagreements on accounting or financial reporting matters,” Lumentum 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 rise since October 2015
The change follows a rise in the share price of Lumentum Holdings Inc. since October 2015.
Chaired by Martin A. Kaplan
Lumentum Holdings Inc. is chaired by Martin A. Kaplan.
CEO: Alan S. Lowe
Alan S. Lowe serves as CEO of Lumentum Holdings Inc. Lowe has served as Lumentum’s president and chief executive officer since July 2015.
In the position of CFO since 2015
Aaron L. Tachibana has been the Chief Financial Officer of Lumentum Holdings Inc. since February 2015 and serves as its Executive Vice President.
Prior to joining Lumentum, Tachibana was employed by Viavi.
Tachibana joined Viavi in November 2013 as vice president of finance and corporate controller.
Prior to joining Viavi, Tachibana served as chief financial officer at Pericom Semiconductor Corp., a supplier of performance connectivity and timing solutions, from March 2010 to October 2013 where he led finance and human resources.
From 1992 to 2010, he held executive and senior management positions with Asyst Technologies, Inc., Allied Telesis, Inc., TapCast Inc. and TeraStor Corporation.
Tachibana holds a Bachelor of Science degree in Business Administration and Finance from San Jose State University.
Generally speaking, when a top leader announces to step down with no permanent successor available, it’s a sign that the move was unplanned and too early.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Aaron Tachibana’s sudden 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 24.2018 ($).