USG CEO Jenny Scanlon leaves

  • Push-out Score determined
  • After about two years in the position
  • Praise and thanks for Scanlon
  • No successor appointed
  • Scanlon said 118 words

(exechange) — Chicago, Illinois, January 22, 2019 — This news came the day after Martin Luther King, Jr. Day. Jenny Scanlon, chief executive of USG, leaves. As announced by USG Corp. in a news release and in a regulatory filing published on Tuesday, January 22, 2019, Jennifer F. (Jenny) Scanlon leaves her post as Chief Executive Officer at the gypsum product manufacturing company after about two years in the role.

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 8.5 years, according to data compiled by exechange. Only 22 percent of the CEOs who departed over the past 12 months left the position within three years.

“Leave”

USG said: “President and Chief Executive Officer Jennifer F. Scanlon today announced that she intends to leave USG upon, and subject to, the completion of the pending merger with Gebr. Knauf KG.”

Scanlon will continue to serve as President and CEO until closing, continuing to focus on executing USG’s business plans and strategies, and ensuring a smooth transition for USG’s employees, customers and other stakeholders.

USG did not name a replacement for the position of Chief Executive Officer.

Jenny Scanlon’s move is part of a management shake-up also involving the positions of Chief Financial Officer; Chief Administrative Officer; Chief Customer and Innovation Officer; President, Gypsum; and General Counsel and Corporate Secretary.

No reason given

In the announcement, USG did not explicitly explain the reason for Jenny Scanlon’s move, leaving room for speculation.

Precise information regarding Jenny Scanlon’s future plans was not immediately available.

Share price increase since January 2016

The management change announcement follows an increase in USG Corporation’s share price of 141 percent since January 2016.

Chaired by Steven F. Leer

USG Corporation is chaired by Steven F. Leer.

Steven F. Leer retired as Chairman of Arch Coal, Inc. in 2014 after having served in that position since April 2006. He was also the Chief Executive Officer of Arch Coal, Inc. until April 2012.

In the position of CEO since 2016

Scanlon has served in leadership roles at USG for sixteen years.

As a senior executive, she led the execution of some of the Company’s most significant strategic moves in recent history, including establishing the USG Boral Building Products joint venture and the divestiture of L&W Supply Corporation.

Scanlon became USG’s President and CEO effective November 1, 2016.

Scanlon’s previous roles with USG include president, International; president, L&W Supply Corporation; chief information officer and chairman of the board for USG Boral Building Products.

She has led the company through some of its most significant strategic moves in recent history, including establishing the USG Boral Building Products joint venture and the divestiture of L&W Supply Corporation.

Scanlon joined USG in 2003 as director of strategy implementation for Supply Chain Management and Customer Relationship Management.

She holds a bachelor’s degree in government and computer applications from the University of Notre Dame and a master’s degree in finance and marketing from the University of Chicago.

Scanlon serves on the boards of Norfolk Southern Corporation, the National Association of Manufacturers, the Chicago Council of Global Affairs and SHORE Community Services, Inc.

She is a member of the Economic Club of Chicago, The Chicago Network and the Executives’ Club of Chicago.

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 USG and offered the company the opportunity to comment on the score.

Read the full story in the exechange report 4.2019 ($).