- Push-out Score determined
- After less than three years in the position
- Praise and good wishes for England
- Cliff Marks taking over in the interim
- Search for a successor
(exechange) — Centennial, Colorado, November 5, 2018 — Andy England, chief executive of National CineMedia, leaves. It is an abrupt change. As announced by National CineMedia Inc. in a news release and in a regulatory filing published on Monday, November 5, 2018, Andrew J. (Andy) England has left his post as Chief Executive Officer at the cinema advertising company after less than three years in the role, effective November 2, 2018.
No company wants a CEO to flame out in the first years.
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 9.2 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.
National CineMedia will undertake a search for a successor.
Andy England’s duties will be taken over in the interim by Clifford E. (Cliff) Marks, most recently President of National CineMedia, Inc., as Interim Chief Executive Officer.
No reason given
In the announcement, National CineMedia did not explicitly explain the obviously compelling reason for Andy England’s sudden move, leaving room for speculation.
Precise information about Andy England’s future plans was not immediately available.
Generally speaking, it is often an alarm signal for stockholders when a CEO leaves the post abruptly and without a reasonable explanation.
National CineMedia said: “Andrew J. England has stepped down as Chief Executive Officer and a member of the Company’s Board of Directors.”
National CineMedia further said: “On November 2, 2018, Andrew J. England stepped down as Chief Executive Officer and as a member of the Board of Directors of National CineMedia, Inc. …, effective immediately.”
“Not the result of a violation of any company policy”
“Mr. England’s termination of employment is not the result of a violation of any company policy,” National CineMedia said.
It is a phrase that may be intended to prevent false rumors. It may also fuel further speculation and raise more questions than it answers. Such a phrase should be read very carefully. The exact wording may be insightful.
Share price decline
The change follows a decline in the share price of National CineMedia, Inc. since December 2016.
Chaired by Thomas F. Lesinski
National CineMedia, Inc. is chaired by Thomas F. Lesinski.
In the position of CEO since 2016
England was appointed Chief Executive Officer and Director of NCM, Inc. on January 1, 2016.
England has a long career in marketing, previously serving as the Executive Vice President and Chief Marketing Officer of MillerCoors, LLC from 2010 until July 2015.
From 2008 to 2010, England served as the Chief Marketing Officer of the then newly formed MillerCoors, LLC. From 2006 to 2008 he served as Chief Marketing Officer of Coors Brewing Co.
Prior to that, England was Vice President and General Manager of Hershey’s Snacks division, Director of the Reese’s Brand, and held various marketing and brand management positions for over ten years at Nabisco Biscuit Company and Cadbury Schweppes.
England holds a Master of Business Administration degree from Stanford University and a bachelor’s degree in Engineering Science from Durham University in the United Kingdom.
Push-out Score determined
The Push-out Score™ determined by exechange suggests that push-out forces have contributed to the change.
Read the full story in the exechange report 46.2018 ($).