- Push-out Score suggests push-out forces
- After about two years in the position
- Praise for Gentilcore
- Belgacem Chariag taking over
- Gentilcore will remain as Executive Chairman at PQ Group
- Gentilcore spoke at length and said 76 words
(exechange) — Malvern, Pennsylvania, August 9, 2018 — Jim Gentilcore, chief executive of PQ Group, leaves the position. It is an abrupt change. As announced by PQ Group Holdings Inc. in a news release on Thursday, August 9, 2018, James F. (Jim) Gentilcore leaves his post as Chief Executive Officer at the chemicals company after about two years in the role, effective immediately.
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 9.3 years, according to data compiled by exechange. Only 20 percent of the CEOs who departed over the past 12 months left the position within three years.
Gentilcore’s duties will be taken over by Belgacem Chariag, most recently Chief Global Operations Officer of Baker Hughes.
The fact that Gentilcore’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, PQ Group did not explicitly explain the obviously compelling reason for Gentilcore’s sudden move, leaving room for speculation.
Gentilcore will remain as Executive Chairman at PQ Group
“Mr. Gentilcore will remain on PQ’s Board as Executive Chairman,” PQ Group said.
PQ Group said: “Mr. Chariag succeeds Jim Gentilcore, 66, following Mr. Gentilcore’s successful tenure as President and Chief Executive Officer during which he led the Company’s initial public offering.”
In the position of CEO since 2016
James F. Gentilcore became a director in July 2016, Chairman of the Board of Directors in December 2017 and Executive Chairman in August 2018.
Gentilcore served as the Company’s President and Chief Executive Officer from July 2016 until August 2018.
Gentilcore previously served as an Executive Advisor to CCMP from April 2014 to June 2016.
He previously served as Chief Executive Officer of Edwards Group Limited, a developer and manufacturer of vacuum products, abatement systems and related services, from March 2013 to January 2014, and as a director from December 2007 until January 2014.
Prior to that, he was the Chief Executive Officer of EPAC Technologies Inc., a logistics technology solutions company, from January 2009 until March 2011.
Gentilcore also served as Chief Operating Officer of Brooks Automation Inc., a position he held from November 2005 until November 2007, after leading the merger between Brooks and Helix Technology Corp., where he had been the Chief Executive Officer from December 2002 until October 2005.
Prior to that, Gentilcore was the Chief Operating Officer of Advanced Energy Industries, Inc.
Earlier in his career, he spent 10 years in the electronics materials industry with Air Products Inc., serving in various business development and operational roles.
Gentilcore currently serves on the board of directors of Entegris, Inc. and Milacron Holdings Corp. and previously served as a member of the board of directors of KMG Chemicals Inc. from May 2014 to December 2016.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Jim Gentilcore’s sudden 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 33.2018 ($).