- Push-out Score determined
- After less than four years in the position
- Praise, thanks and good wishes for Hatfield
- Rod Little taking over
- Hatfield said 83 words
(exechange) — Shelton, Connecticut, February 7, 2019 — David Hatfield, chief executive of Edgewell, leaves. It is a change at short notice. As announced by Edgewell Personal Care Co. in a news release and in a regulatory filing published on Thursday, February 7, 2019, David P. Hatfield, Chief Executive Officer, leaves the consumer products company after less than four years in the role, effective March 1, 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 8.1 years, according to data compiled by exechange.
David Hatfield’s duties will be taken over by Rod R. Little, currently Chief Financial Officer of Edgewell Personal Care Company.
Edgewell is conducting a search process to identify a new Chief Financial Officer.
David Hatfield’s move is part of a management shake-up also involving the position of Chief Accounting Officer.
“To operate more efficiently”
A reason for David Hatfield’s imminent departure from the CEO post was not explicitly provided. Little said: “Despite the challenging market environment, we have significant opportunities to drive growth by building our core brands, taking further decisive actions to operate more efficiently, and reorienting our portfolio to focus on growth opportunities.”
Precise information regarding David Hatfield’s future plans was not immediately available.
Edgewell said: David P. Hatfield “will retire from the company effective March 1, 2019.”
Edgewell further said: “At a meeting of the Board of Directors … of Edgewell Personal Care Company … on February 1, 2019, David P. Hatfield, President, Chief Executive Officer, and Chairman of the Board, informed the Board of his decision to retire, effective March 1, 2019.”
Share price decline
The announcement follows a decline in Edgewell Personal Care Company’s share price of 60 percent since July 2015.
In the position of CEO since 2015
Hatfield has been President and Chief Executive Officer of the Company since July 1, 2015 and was appointed Chairman in July 2016.
From October 2007 to July 1, 2015, he served as Chief Executive Officer of the Energizer Personal Care division commencing upon the Company’s acquisition of Playtex in October 2007.
Prior thereto, Hatfield served in a number of senior leadership positions at Schick-Wilkinson Sword: in 2007 he was named President and Chief Executive Officer; from 2004 to 2007 he served as its Executive Vice President and Chief Marketing Officer; from 1999 to 2004 he was appointed Vice President, North America and Global Marketing and led the e2 launch and segmentation strategy development, where he also helped formalize the company’s M&A strategy and was the marketing lead on the team that successfully acquired Schick; and from 1997 to 1999, he served as Vice President, Europe, Marketing in Switzerland.
From 1988 to 1997, Hatfield served in a number of capacities in the Eveready Battery division including Advertising Manager (during the launch of the Energizer Bunny), Director of Marketing for Latin America, and Director of Marketing North America. In 1986, he joined Ralston Purina in the pet food marketing department.
Hatfield does not currently serve on any other public company boards.
Hatfield has over 30 years of service with Edgewell, in both international and domestic leadership positions, and he has obtained extensive knowledge of the Company’s business operations and industry dynamics.
In order to facilitate a smooth transition, Hatfield will continue to serve as a Director on the Edgewell Board until May 1, 2019.
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 Edgewell and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 6.2019 ($).