- Push-out Score suggests push-out forces
- After about five and a half years in the position
- Praise, thanks and good wishes for Simons
- Devin Stockfish taking over
- Simons spoke at length and said 198 words
(exechange) — Seattle, Washington, August 27, 2018 — Doyle Simons, chief executive of Weyerhaeuser, leaves his post. His departure is made public at an early stage. As announced by Weyerhaeuser Company in a news release and in a regulatory filing published on Monday, August 27, 2018, Doyle R. Simons leaves his post as chief executive officer at the owner of timberlands after about five and a half years in the role, effective January 1, 2019.
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.
Simons leaves the company effective April 1, 2019.
Simons’s duties will be taken over by Devin W. Stockfish, currently senior vice president of the Timberlands business of Weyerhaeuser Company.
Simons’s departure from the CEO post is explained as follows. Rick R. Holley, chairman of Weyerhaeuser’s board of directors, said: “In anticipation of this planned transition, the board conducted an extensive succession process and unanimously determined that Devin is the right leader to take this company to the next level.”
Precise information about Simons’s future plans was not immediately available.
Weyerhaeuser said: “Doyle R. Simons has elected to retire.”
Chaired by Rick R. Holley
Weyerhaeuser Company is chaired by Rick R. Holley.
Rick R. Holley has been Non-Executive Chairman at Weyerhaeuser Co. since February 19, 2016 and has been its Director since 2016.
In the position of CEO since 2013
Doyle R. Simons has been President and Chief Executive Officer since August 1, 2013.
He has been a director of the company since June 2012 and was appointed as Chief Executive Officer Elect and an executive officer of the company June 17, 2013.
He served as Chairman and Chief Executive Officer of Temple-Inland, Inc. (forest products) from 2008 to February 2012 when it was acquired by International Paper.
Previously, he held various management positions with Temple-Inland, including Executive Vice President from 2005 to 2007 and Chief Administrative Officer from 2003 to 2005.
Prior to joining Temple-Inland in 1992, he practiced real estate and banking law with Hutcheson and Grundy, L.L.P. Simons also serves on the board of directors for Fiserv, Inc.; is a member of the board of visitors for the University of Texas M. D. Anderson Cancer Center, and the Baylor University Hankamer School of Business Advisory Board; and serves on the board of directors for United Way of King County.
He has extensive experience in managing forest products companies and capital intensive industries, with strong skills in real estate development, corporate finance, executive compensation and strategic planning.
Simons will remain employed with the Company as a senior advisor through April 1, 2019.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Doyle Simons’s 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 36.2018 ($).