- Push-out Score determined
- After almost 18 years in the position
- Accolades, praise and thanks for Perez de la Mesa
- Perez de la Mesa will remain as Vice Chairman at Pool Corp.
- Perez de la Mesa spoke at length and said 114 words
(exechange) — Covington, Louisiana, July 30, 2018 — Manny Perez de la Mesa, chief executive of Pool Corp., hands over the reins. As announced by Pool Corporation in a news release and in a regulatory filing published on Monday, July 30, 2018, Manuel J. (Manny) Perez de la Mesa leaves his post as Chief Executive Officer at the wholesale distributor of swimming pools after almost 18 years in the role, effective December 31, 2018.
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 16 percent of the CEOs who departed over the past 12 months left the position after more than 15 years.
Perez de la Mesa’s duties will be taken over by Peter D. (Pete) Arvan, currently Chief Operating Officer of Pool Corporation.
“Comprehensive succession plan”
Perez de la Mesa’s departure from the CEO post is explained as follows. John E. Stokely, the company’s Chairman of the Board, said: “The Board, working closely with Manny, has developed and executed a comprehensive succession plan and, as a result, we are confident Pete Arvan is the right person to lead POOLCORP.”
Perez de la Mesa will remain as Vice Chairman at Pool Corp.
“Manny will remain with POOLCORP as Vice Chairman of the Board of Directors (the Board),” Pool Corp. said.
Pool Corp. said: “Manuel (Manny) J. Perez de la Mesa will retire as Chief Executive Officer (CEO) effective December 31, 2018.”
Pool Corp. further said: “Pool Corporation … announced the retirement of Mr. Manuel J. Perez de la Mesa, President and Chief Executive Officer, effective December 31, 2018.”
Share price rise since February 2009
The change follows a rise in the share price of Pool Corporation since February 2009.
Chaired by John E. Stokely
Pool Corporation is chaired by John E. Stokely.
In the position of CEO since 2001
Perez de la Mesa has been Chief Executive Officer of the Company since May 2001 and has also been the President of the Company since February 1999.
Perez de la Mesa served as Chief Operating Officer of the Company from February 1999 to May 2001.
Prior to joining the Company, Perez de la Mesa served as Vice President, Distribution Operations for Watsco, Inc., a HVAC/R distribution company, from 1996 to January 1999.