- Push-out Score determined
- After about three years in the position
- Accolades, praise and thanks for North
- Search for a successor
- North said 71 words
(exechange) — Redwood City, California, February 5, 2019 — Chris North, chief executive of Shutterfly, leaves. As announced by Shutterfly Inc. in a news release and in a regulatory filing published on Tuesday, February 5, 2019, Christopher (Chris) North, Chief Executive Officer, leaves the digital photo company after about three years in the role, effective at the end of August 2019.
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 8.2 years, according to data compiled by exechange.
Shutterfly will undertake a search for a successor.
“To return to the UK with his family”
Chris North’s departure from the CEO post is explained as follows. Shutterfly said: “Christopher North, President and CEO, will be stepping down from his leadership and Director roles at the Company at the end of August 2019 in order to return to the UK with his family.”
The phrase “to return to the UK with his family” opens the door to speculation.
Precise information regarding Chris North’s future plans was not immediately available.
Shutterfly said: “On February 5, 2019, Shutterfly, Inc. … announced that Christopher North will be stepping down from his role as the Company’s President and Chief Executive Officer and as a member of the Board of Directors of the Company … in the coming months in order to return to the United Kingdom with his family.”
Share price decline
The announcement follows a decline in Shutterfly, Inc.’s share price of 53 percent since June 2018.
Chaired by Will Lansing
Shutterfly, Inc. is chaired by Will Lansing.
In the position of CEO since 2016
Christopher North has been the Chief Executive Officer and President of Shutterfly, Inc. since May 31, 2016.
Christopher North has served as the Company’s President and Chief Executive Officer and on the Company’s Board of Directors since May 2016.
North was employed by Amazon.com, Inc. from 2006 to May 2016.
North served as Amazon’s UK Country Manager from January 2011, initially as Managing Director of Amazon.co.uk Ltd. until May 2015 and then as UK Managing Director of Amazon EU Sarl until May 2016.
Prior to January 2011, he served as Vice President, UK Media, and prior to that role, as Vice President, UK Books at Amazon.
Prior to joining Amazon, North served as Managing Director of Phaidon Press Ltd., as Chief Operating Officer at HarperCollins Canada Ltd., as Vice President and General Manager, Electronic Publishing at HarperCollins Publishers, and as a management consultant at Booz Allen Hamilton.
North received a Bachelor of Arts in Economics from Harvard College and a Master of Arts in Philosophy from New York University.
North will continue as the Company’s President and Chief Executive Officer until a successor is appointed and will remain with the Company until August 31, 2019, in order to ensure a smooth transition.
As a general rule, when a top manager announces to step down with no successor in place, it is a sign that the change was unplanned and too early.
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 Shutterfly and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 6.2019 ($).