- Push-out Score determined
- After about six years in the position
- Praise and thanks for Shiver
- Ryals McMullian taking over
- Shiver said 99 words
(exechange) — Thomasville, Georgia, February 19, 2019 — This news came the day after Presidents Day. Allen Shiver, chief executive of Flowers Foods, leaves. As announced by Flowers Foods Inc. in a news release on Tuesday, February 19, 2019, Allen L. Shiver leaves his post as chief executive officer at the marketer of packaged bakery foods after about six years in the role, effective as of the company’s 2019 annual meeting of shareholders.
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 8.3 years, according to data compiled by exechange.
Allen Shiver’s duties will be taken over by A.Ryals McMullian, currently chief operating officer of Flowers Foods, Inc.
Allen Shiver’s departure from the CEO post is explained as follows. Flowers Foods said: “The board of directors, in accordance with the company’s management succession plan, elected McMullian following the decision by Allen L. Shiver, president and chief executive officer, to retire and step down from the board.”
Precise information regarding Allen Shiver’s future plans was not immediately available.
Share price decline
The announcement follows a decline in Flowers Foods, Inc.’s share price of 23 percent since October 2015.
Chaired by George E. Deese
George E. Deese, age 72, served as executive chairman of the board of directors of the company from May 22, 2013, until he retired December 31, 2014. He continues to serve as non-executive chairman.
In the position of CEO since 2013
Allen L. Shiver has served as president, chief executive officer, and director of the company since May 22, 2013.
Shiver was president of Flowers Foods from January 2010 to May 22, 2013, and previously served as executive vice president and chief marketing officer of Flowers Foods from May 2008 to 2009.
Shiver served as president and chief operating officer of Flowers Foods Specialty Food Group from 2003 until 2008 and as president and chief operating officer of Flowers Snack from 2002 to 2003.
Prior to these positions, Shiver served as bakery president, regional vice president, and executive vice president of operations.
He joined the company in 1978.
Shiver is an American Bakers Association (ABA) board member and has served as ABA’s chairman of the board.
He currently serves as co-chair of the Grain Foods Foundation Board of Trustees and on the Grocery Manufacturers Association’s President’s Advisory Council and Industry Affairs Council.
To ensure a seamless transition, Shiver will continue to serve in his current position and as a board member until the annual meeting and will then serve as a non-executive special advisor to the company through the end of the year.
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 Flowers Foods and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 8.2019 ($).