- Push-out Score suggests push-out forces
- After around seven years in the position
- Accolades, praise, thanks and good wishes for Gliebe
- Search for a successor
- Gliebe said 81 words
(exechange) — Beloit, Wisconsin, September 24, 2018 — Mark Gliebe, chief executive of Regal Beloit, leaves the position. As announced by Regal Beloit Corporation in a news release published on Sunday, September 23, 2018 and in a regulatory filing published on Monday, September 24, 2018, Mark J. Gliebe, Chief Executive Officer, leaves the maker of electric motors after around seven years in the role, effective after the completion of calendar year 2018.
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 9.1 years, according to data compiled by exechange.
Gliebe has agreed to lead the Company until a successor has been named and to resign from the Board effective as of his retirement date as CEO.
Regal Beloit will undertake a search for a successor.
“Time for me to move to the next phase of my life”
Gliebe’s departure from the CEO post is explained as follows. Gliebe said: “Having served eight years as CEO and four years as COO, it is time for me to move to the next phase of my life.”
Precise information about Gliebe’s future plans was not immediately available.
Regal Beloit said: “Mark J. Gliebe, Chairman and CEO, will retire from Regal after the completion of calendar year 2018.”
Regal Beloit further said: “Mark J. Gliebe, Chairman of the Board and Chief Executive Officer of the Company, will be retiring after the completion of calendar year 2018. Mr. Gliebe will resign as a director and as Chairman of the Company effective as of his retirement date as Chief Executive Officer.”
In the position of CEO since 2011
Gliebe was elected Chairman of the Board in January 2012.
He was elected Chief Executive Officer in May 2011.
He served as President and Chief Operating Officer from December 2005 to May 2011.
Gliebe joined the Company in January 2005 as Vice President and President – Electric Motors Group, following the Company’s acquisition of the HVAC motors and capacitors businesses from GE;
Gliebe was previously employed by GE as the General Manager of GE Motors and Controls in the GE Consumer and Industrial business unit from June 2000 to December 2004.
Generally speaking, when a top leader announces to step down with no successor in place, it’s a sign that the change was unplanned and too early.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Mark Gliebe’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 40.2018 ($).