- Push-out Score determined
- After 14 years in the position
- Praise for Rabinowitz
- Steve Chapman taking over
- Rabinowitz will remain as Executive Chairman at Natera
- Rabinowitz said 85 words
(exechange) — San Carlos, California, January 2, 2019 — This news came the day after New Year’s Day. Matt Rabinowitz, chief executive of Natera, leaves the position. It is an abrupt change. As announced by Natera Inc. in a news release on Wednesday, January 2, 2019, Matthew (Matt) Rabinowitz leaves his post as Chief Executive Officer at the genetic testing company after 14 years in the role, effective immediately.
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 36 percent of the CEOs who departed over the past 12 months left the position after more than 10 years.
Matt Rabinowitz’s duties will be taken over by Steve Chapman, most recently Chief Operating Officer of Natera, Inc.
“We need to focus on exceptional commercial and operational execution”
Matt Rabinowitz’s sudden departure from the CEO post is explained as follows. Rabinowitz said: “For the next phase of the company’s growth into new, large markets, we need to focus on exceptional commercial and operational execution. Steve’s commercial expertise and track record is remarkable.”
Rabinowitz will remain as Executive Chairman at Natera
“Rabinowitz will remain integrally involved as Executive Chairman focusing on the company’s long-term business strategy and technology innovation,” Natera said.
Natera said: “Previously, Chapman was the company’s COO and will succeed Matthew Rabinowitz, Ph.D., Natera co-founder and CEO.”
Share price decline
The change follows a decline in Natera, Inc.’s share price of 52 percent since August 2018.
In the position of CEO since 2005
Matthew Rabinowitz is a co-founder of the Company and has served as a member of the Company’s board of directors and as the Company’s Chief Executive Officer since 2005 and as Chairman of the Company’s board of directors since May 2015.
Prior to co-founding the Company, Rabinowitz served from 2000 to 2003 as chief executive officer and from 2003 to 2007 as chief technology officer of Rosum Corporation, a location services technology company.
Rabinowitz has multiple publications in signal processing, machine learning, bio-informatics, and high-throughput genetic testing.
He received the Scott Helt Memorial Award from the Institute of Electrical and Electronics Engineers and received Technology Pioneer Awards from the World Economic Forum for founding Rosum Corporation and Natera.
He currently serves on the board of directors of a private company.
Rabinowitz holds a Bachelor of Science degree in Engineering and Physics, a Master of Science in Electrical Engineering, and a Ph.D. in Electrical Engineering, from Stanford University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the likelihood that a manager was pushed out or felt pressure to leave the position.
exechange reached out to Natera and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 1.2019 ($).