Mondelez CFO Brian Gladden leaves at short notice

  • Push-out Score suggests push-out forces
  • After less than four years in the position
  • Praise, thanks and good wishes for Gladden
  • Luca Zaramella taking over
  • Gladden spoke at length and said 91 words

(exechange) — Deerfield, Illinois, June 19, 2018 — Brian Gladden, finance chief of Mondelez, leaves. It is a change at short notice. As announced by Mondelez International, Inc. in a news release and in a regulatory filing published on Tuesday, June 19, 2018, Brian T. Gladden, Chief Financial Officer, leaves the confectionery, food, and beverage company after less than four years in the role, effective August 1, 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 6.7 years, according to data compiled by exechange.

Gladden’s move comes eight months after Dirk Van de Put took over as CEO of Mondelez International, Inc.

Gladden’s duties will be taken over by Luca Zaramella, currently Senior Vice President of Corporate Finance of Mondelez International, Inc.

“To pursue an opportunity outside of the Fast Moving Consumer Goods sector”

Gladden’s imminent departure from the CFO post is explained as follows. Mondelez said: “After 10 years as a public company CFO, Gladden has decided to pursue an opportunity outside of the Fast Moving Consumer Goods sector.”

The phrase “to pursue an opportunity outside of the Fast Moving Consumer Goods sector” opens the door to speculation.

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

Alarm signal

Generally speaking, it is often an alarm signal for stockholders when a CFO leaves the position at short notice and without a reasonable explanation.

“Leave the company”

Mondelez said: “Zaramella will replace Brian Gladden, who will leave the company in August.”

Mondelez further said: “Mr. Zaramella will replace Brian T. Gladden, Executive Vice President and Chief Financial Officer, who announced on that date that he is leaving the company effective August 1, 2018.”

Share price decline

The change follows a decline in the share price of Mondelez International, Inc. since August 2015.

Chaired by Dirk Van de Put

Mondelez International, Inc. is chaired by Dirk Van de Put.

Dirk Van de Put has been Chief Executive Officer of Mondelez International, Inc. since November 2017 and its Chairman since April 01, 2018.

In the position of CFO since 2014

Brian T. Gladden has been the Chief Financial Officer and Executive Vice President of Mondelez International, Inc. since December 1, 2014 and October 13, 2014 respectively.

Brian Gladden is Executive Vice President and Chief Financial Officer at Mondelez International and leads the company’s Finance, M&A, and Best-in-Class Cost Leadership agenda.

Before joining the company in December 2014, Gladden was Senior Vice President and CFO of Dell, Inc., the Texas-based technology company.

While at Dell, Gladden played a key leadership role in its transformation from a PC-focused company to a broad technology solutions company, as well as in its leveraged buyout in early 2014.

He led all aspects of the finance function, and was also responsible for global information technology, security, facilities, corporate strategy and corporate development.

Previously, Gladden was the president and CEO of SABIC Innovative Plastics, the successor company to General Electric Company’s Plastics business, after spending almost 20 years in senior financial and operational positions at GE.

He ultimately led the sale of the GE Plastics business to SABIC in 2007.

Gladden has extensive hands-on experience in operating excellence, financial discipline, driving down costs to fuel growth, balance sheet management and building and managing a large global business services operation.

He also has significant emerging markets experience, along with a proven track record of creating shareholder value.

Gladden earned a Bachelor’s Degree in Business Administration and Finance from Millersville University in Millersville, PA.

Push-out Score suggests push-out forces

It is not completely certain what forces eventually triggered Brian Gladden’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 26.2018 ($).