- Push-out Score determined
- After 16 years in the position
- Accolades, praise and thanks for Meeusen
- Meeusen will remain as Chairman at Badger Meter
- Meeusen spoke at length and said 140 words
(exechange) — Milwaukee, Wisconsin, September 24, 2018 — Rich Meeusen, chief executive of Badger Meter, hands over the reins. As announced by Badger Meter, Inc. in a news release and in a regulatory filing published on Monday, September 24, 2018, Richard A. (Rich) Meeusen leaves his post as Chief Executive Officer at the maker of flow measurement products after 16 years in the role, effective December 31, 2018.
It is the end of an era.
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 8.9 years, according to data compiled by exechange. Only 15 percent of the CEOs who departed over the past 12 months left the position after more than 15 years.
Meeusen’s duties will be taken over by Kenneth C. (Ken) Bockhorst, currently President of Badger Meter, Inc.
“Appropriate time to transition the chief executive responsibilities”
Meeusen’s departure from the CEO post is explained as follows. Meeusen said: “After nearly a year of working alongside Ken, I am confident this is an appropriate time to transition the chief executive responsibilities.”
Meeusen will remain as Chairman at Badger Meter
“He will remain Chairman of the Board through 2019,” Badger Meter said.
Badger Meter said: “Richard A. Meeusen will retire as Chief Executive Officer (CEO) of the company, effective December 31, 2018.”
Share price rise since December 2008
The change follows a rise in the share price of Badger Meter, Inc. since December 2008.
In the position of CEO since 2002
Meeusen joined Badger Meter in 1995 as vice president-finance and chief financial officer.
He was elected president and chief executive officer in 2002 and chairman in 2004.
Prior to joining Badger Meter, Meeusen served as vice president of finance and treasurer of Zenith Sintered Products, Inc., and in the audit division of the Milwaukee office of Arthur Andersen & Co.
He received a BBA degree in accounting from the University of Wisconsin-Whitewater and an MBA degree from the Kellogg Graduate School of Management at Northwestern University.
He is a Certified Public Accountant (CPA).
In addition to his responsibilities at Badger Meter, Meeusen currently serves as a director of Menasha Corporation and Serigraph, Inc., a specialty printing company.
He participates in numerous not-for-profit activities including serving on the boards of Goodwill Industries of Southeastern Wisconsin, Inc., the Greater Milwaukee Committee, the Metropolitan Milwaukee Association of Commerce, the Wisconsin Policy Forum, Milwaukee Water Council (co-founder and co-chair), the Great Lakes Protection Fund and United Way of Greater Milwaukee & Waukesha County.
Push-out Score determined
Read the full story in the exechange report 40.2018 ($).