- Push-out Score determined
- After almost 12 years in the position
- Praise for Blickenstaff
- Blickenstaff will remain as Executive Chairman at Tandem Diabetes
- Blickenstaff spoke at length and said 138 words
(exechange) — San Diego, California, February 26, 2019 — Kim Blickenstaff, chief executive of Tandem Diabetes, hands over the reins. It is a change at short notice. As announced by Tandem Diabetes Care Inc. in a news release and in a regulatory filing published on Tuesday, February 26, 2019, Kim D. Blickenstaff leaves his post as Chief Executive Officer at the insulin delivery and diabetes technology company after almost 12 years in the role, effective March 1, 2019.
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 8.2 years, according to data compiled by exechange. Only 31 percent of the CEOs who departed over the past 12 months left the position after more than 10 years.
Kim Blickenstaff’s duties will be taken over by John F. Sheridan, currently Chief Operating Officer of Tandem Diabetes Care, Inc.
“Now is the right time”
Kim Blickenstaff’s imminent departure from the CEO post is explained as follows. Kim Blickenstaff said: “John has been an integral part of our management team, who have worked to build a patient-centric culture of innovation and have transformed the Company to deliver record growth. With this in place, now is the right time for me to focus on external and corporate strategy efforts as Executive Chairman.”
Blickenstaff will remain as Executive Chairman at Tandem Diabetes
“After nearly 12 years of service as Tandem’s President and CEO, Kim D. Blickenstaff will transition to a newly-created position of Executive Chairman of the Board of Directors,” Tandem Diabetes said.
Share price increase since November 2018
The announcement follows an increase in Tandem Diabetes Care, Inc.’s share price of 70 percent since November 2018.
Chaired by Dick P. Allen
Tandem Diabetes Care, Inc. is chaired by Dick P. Allen.
In the position of CEO since 2007
Kim D. Blickenstaff has served as the Company’s President and Chief Executive Officer and as one of its directors since September 2007.
Prior to joining Tandem, Blickenstaff served as Chairman and Chief Executive Officer of Biosite Incorporated, a provider of medical diagnostic products, from 1988 until its acquisition by Inverness Medical Innovations, Inc. in June 2007.
Blickenstaff previously served as a director of Medivation, Inc., a biotechnology company, from 2005 to 2016, until its acquisition by Pfizer, and as a director of DexCom, Inc., a provider of continuous glucose monitoring systems, from June 2001 to September 2007.
He received a B.A. in Political Science from Loyola University, Chicago, and an M.B.A. from the Graduate School of Business, Loyola University, 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 Tandem Diabetes and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 9.2019 ($).