- Push-out Score suggests push-out forces
- After less than four years in the position
- Paul Orban taking over
(exechange) — Englewood, Colorado, August 10, 2018 — Steve Swain, finance chief of Dish, leaves. It is a change at short notice. As announced by Dish Network Corporation in a regulatory filing published on Friday, August 10, 2018, Steven E. (Steve) Swain leaves his post as Chief Financial Officer at the U.S. television provider after less than four years in the role, effective August 22, 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.
Swain’s move comes eight months after Erik Carlson took over as CEO of Dish Network Corporation.
Swain’s duties will be taken over by Paul W. Orban, most recently Chief Accounting Officer of Dish Network Corporation, as principal financial officer.
Swain will be CFO at Brookdale Senior Living
Brookdale Senior Living Inc. announced that Steven Swain will join the Company as its Executive Vice President and Chief Financial Officer.
He is expected to start on September 4, 2018 and will replace the Company’s current Interim Chief Financial Officer, Teresa Sparks.
Brookdale Senior Living Inc. announced the move on Friday, August 10, 2018.
Brookdale Senior Living is an operator of senior living communities.
Dish said: “On August 7, 2018, Mr. Steven E. Swain notified Dish Network Corporation (“Dish Network”) and its wholly-owned subsidiary, Dish DBS Corporation (“Dish DBS”), that he was resigning as Senior Vice President and Chief Financial Officer of each of Dish Network and Dish DBS, effective August 22, 2018.”
Share price decline
The change follows a decline in the share price of Dish Network Corporation since July 2017.
Chaired by Charles W. Ergen
Dish Network Corporation is chaired by Charles W. Ergen.
Charlie Ergen serves as the Company’s executive Chairman and has been Chairman of the Board of Directors of Dish Network since its formation.
CEO: Erik Carlson
Erik Carlson serves as CEO of Dish Network Corporation. Carlson has been President of Dish Network Corporation since December 11, 2015 and has been its Chief Executive officer since December 5, 2017.
In the position of CFO since 2014
Swain has been Chief Financial Officer and Senior Vice President at Dish Network Corporation since October 1, 2014.
Steve Swain, Senior Vice President and Chief Financial Officer, oversees the accounting, tax and financial reporting functions at Dish.
Swain joined Dish in 2011 as Vice President of Corporate Financial Planning and Analysis.
Prior to Dish, Swain spent more than 15 years working in the telecommunications sector, most recently at CenturyLink, formerly Qwest Communications.
There he served in multiple leadership roles across Finance, including corporate financial planning and analysis, treasury and investor relations, as well as in Network Engineering.
He earned his Bachelor’s of Science degree in chemical engineering from the University of Wisconsin and his Master of Business Administration from the University of Chicago.
Swain enjoys spending time with his wife, Sherri, and their son.
Swain has also served as principal financial officer of both Dish Network and Dish DBS.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Steve Swain’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 33.2018 ($).