Natus Medical CEO Jim Hawkins leaves abruptly

  • Push-out Score determined
  • After around 14 years in the position
  • Accolades, praise and thanks for Hawkins
  • Jonathan Kennedy taking over
  • Hawkins spoke at length and said 89 words

(exechange) — Pleasanton, California, July 11, 2018 — Jim Hawkins, chief executive of Natus Medical, leaves. It is an abrupt change. As announced by Natus Medical Incorporated in a news release on Wednesday, July 11, 2018, James B.  (Jim) Hawkins leaves his post as Chief Executive Officer at the provider of healthcare products after around 14 years in the role, effective immediately.

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 CEOs who departed over the past 12 months was 9.4 years, according to data compiled by exechange. Only 38 percent of the CEOs who departed over the past 12 months left the position after more than 10 years.

Hawkins’s duties will be taken over by Jonathan Kennedy, most recently Chief Financial Officer of Natus Medical Incorporated.

In connection with Kennedy’s appointment, Sharon Villaverde, Vice President, Finance, has been appointed interim CFO, effective immediately.

The Company will conduct a comprehensive search to identify a permanent CFO with both internal and external candidates being considered.

“Planned succession”

Hawkins’s sudden departure from the CEO post is explained as follows. Natus Medical said: “As part of a planned succession, Jonathan Kennedy, who has served as Chief Financial Officer since April 2013, has been appointed President and Chief Executive Officer, effective immediately.”

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

“Retiring”

Natus Medical said: “Jim Hawkins is retiring from Natus after 14 years of service as CEO.”

Share price decline

The change follows a decline in the share price of Natus Medical Incorporated since December 2015.

In the position of CEO since 2004

James B. Hawkins has been the Chief Executive Officer of Natus Medical Inc. since April 19, 2004.

James B. Hawkins has served as Chief Executive Officer, and as a member of the Board, since joining Natus in April 2004 and as President since June 2013.

He previously served as President from April 2004 through January 2011.

Since December 2015, he has served as a member of the board of directors of OSI Systems, Inc., and he has served as a member of the board of directors of El Dorado Resorts since September 2014.

Hawkins previously served as a director at Iradimed Corporation from 2005 until June 2016, IRIDEX Corporation from October 2007 until December 2014 and Digirad Corporation from April 2012 to October 2014.

Prior to joining Natus, Hawkins was President, Chief Executive Officer and a director of Invivo Corporation, a developer and manufacturer of multi-parameter vital sign monitoring equipment, and its predecessor, from August 1985 through January 2004.

He earned his undergraduate degree in Business Commerce from Santa Clara University and holds a Masters of Business Administration degree from San Francisco State University.

Push-out Score determined

The Push-out Score™ determined by exechange suggests that push-out forces have contributed to the change.

Read the full story in the exechange report 29.2018 ($).