- Push-out Score suggests push-out forces
- After about eight years in the position
- Accolades, praise, words of regret and good wishes for Hirsch
- Bob McMahon taking over
- Hirsch spoke at length and said 90 words
(exechange) — Santa Clara, California, July 31, 2018 — Didier Hirsch, finance chief of Agilent, leaves the position. It is a change at short notice. As announced by Agilent Technologies Inc. in a news release and in a regulatory filing published on Tuesday, July 31, 2018, Didier Hirsch leaves his post as chief financial officer at the analytical laboratory instrument manufacturing company after about eight years in the role, effective September 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 6.8 years, according to data compiled by exechange.
Hirsch leaves the company effective October 31, 2018.
Hirsch’s duties will be taken over by Robert W. (Bob) McMahon, currently chief financial officer of Hologic, Inc.
The fact that Hirsch’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
No reason given
In the announcement, Agilent did not explicitly explain the reason for Hirsch’s imminent move, leaving room for speculation.
Precise information about Hirsch’s future plans was not immediately available.
Agilent said: “Didier Hirsch, senior vice president and chief financial officer, has decided to retire on Oct 31, 2018.”
Agilent further said: “McMahon will join Agilent on August 3, as senior vice president, and will become CFO on Sept. 1, 2018, when Hirsch will step down as CFO.”
Share price rise since October 2016
The change follows a rise in the share price of Agilent Technologies Inc. since October 2016.
Chaired by James G. Cullen
Agilent Technologies Inc. is chaired by James G. Cullen.
CEO: Mike McMullen
Mike McMullen serves as CEO of Agilent Technologies Inc. Mike McMullen was appointed Agilent CEO in March 2015, replacing William (Bill) Sullivan.
In the position of CFO since 2010
Didier Hirsch has been the Chief Financial Officer and Senior Vice President of Agilent Technologies, Inc. since July 21, 2010.
Didier Hirsch is senior vice president and chief financial officer of Agilent Technologies.
Prior to his appointment in July 2010, Hirsch was Agilent’s vice president, corporate controllership and tax.
He has been with Agilent since its inception in 1999, initially as VP, treasury and investor relations. Prior to his positions at Agilent, Hirsch was director of finance and administration for Hewlett-Packard Europe, Middle East and Africa.
Before this, he held a similar position at Hewlett-Packard Asia Pacific based in Hong Kong. Hirsch joined Hewlett-Packard Company in 1989.
Prior to joining Hewlett-Packard Company, Hirsch held finance positions at Ford, Bendix/Allied Signal and STMicroelectronics.
Hirsch serves on the board of directors of Knowles and Logitech.
Hirsch, who was born in France, received his master’s degree in computer science from Toulouse University and a Master of Science in Industrial Administration from Purdue University.
Hirsch will continue as an active member of the executive staff until his retirement date at the end of the fiscal year, focused on working with McMahon to ensure a smooth transition.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Didier Hirsch’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 32.2018 ($).