- Push-out Score suggests push-out forces
- Search for a successor
- Ellertson will remain as Executive Chairman at Everbridge
- Ellertson spoke at length and said 214 words
(exechange) — Burlington, Massachusetts, June 14, 2018 — Jaime Ellertson, chief executive of Everbridge, prepares for his departure. As announced by Everbridge, Inc. in a news release on Thursday, June 14, 2018, Jaime W. Ellertson leaves his post as Chief Executive Officer at the software company after around eight years in the role, effective in mid to late 2019.
Everbridge will undertake a search for a successor.
It is a long goodbye. The announcement of Ellertson’s move comes up to 18 months prior to his planned departure from the post of CEO.
In general, a top executive who announces the departure very early may be considered a lame duck.
Lengthy lead times give boards extra time to find replacements, and they also create uncertainty. Would-be successors may jockey for attention and workers may wonder who is actually in charge.
Generally speaking, lame-duck leaders can take a forceful role in selecting a successor and are not expected to launch major shifts.
“Now is the right time”
Ellertson’s departure from the CEO post is explained as follows. Ellertson said: “I believe now is the right time to start the process of identifying the next CEO to lead us forward.”
Ellertson will remain as Executive Chairman at Everbridge
“[L]ong-time Chairman and CEO Jaime Ellertson will transition from CEO to Executive Chairman in mid to late 2019,” Everbridge said.
Share price rise since December 2017
The change follows a rise in the share price of Everbridge, Inc. since December 2017.
In the position of CEO since 2011
Jaime Ellertson has served as the Company’s Chief Executive Officer since September 2011 and as Chairman of the Company’s Board since March 2011, after joining the Company’s Board in April 2010.
From September 2011 to July 2017, Ellertson also served as the Company’s President.
From November 2010 to September 2011, Ellertson was Chief Executive Officer and chairman of the board of directors of CloudFloor Corporation, a provider of cloud solutions, which we acquired in 2011.
Since June 2014, Ellertson has served as chairman of the board of directors of hVIVO PLC, a viral challenge and services company, and since August 2012, Ellertson has served as a member of the board of directors of PeopleFluent, Inc., a provider of human capital management software and services.
From December 2010 to December 2014, Ellertson served as a member of the board of director of Qvidian, a provider of cloud-based sales execution solutions.
As a general rule, when a top manager announces to step down with no successor in place, it’s a sign that the move was unexpected and too early.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Jaime Ellertson’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 25.2018 ($).