- Push-out Score determined
- Praise and thanks for Ambroseo
- Search for a successor
- Ambroseo said 110 words
(exechange) — Santa Clara, California, April 15, 2019 — John Ambroseo, chief executive of Coherent, prepares for his departure. As announced by Coherent Inc. in a news release and in a regulatory filing published on Monday, April 15, 2019, John R. Ambroseo leaves his post as chief executive officer at the company after almost 19 years in the role, effective no later than April 2021.
It is the end of an era.
Coherent will undertake a search for a successor.
It is a long goodbye. The announcement of John Ambroseo’s move comes up to 24 months prior to his planned departure from the post of CEO.
In general, a top executive who announces the departure very early may be considered a lame duck.
Lengthy lead times give boards extra time to find replacements, and they also create uncertainty. Would-be successors may jockey for attention and workers may wonder who is actually in charge.
Generally speaking, lame-duck leaders can take a forceful role in selecting a successor and are not expected to launch major shifts.
“I want to shift my long-term attention to my family and philanthropic pursuits”
John Ambroseo’s departure from the CEO post is explained as follows. Ambroseo said: “Throughout my nearly 17 years as CEO of Coherent, I always try to take the long view on the markets, technologies and the company. I believe this approach allows us to make better decisions benefitting all stakeholders, but this also requires a trade-off between professional and personal priorities. Having considered this, I want to shift my long-term attention to my family and philanthropic pursuits.”
Coherent said that “the Company and President and Chief Executive Officer John Ambroseo have entered into a transition and retirement agreement pursuant to which Mr. Ambroseo will transition from being President and Chief Executive Officer no later than April 2021.”
Share price decline
The announcement follows a decline in Coherent, Inc.’s share price of 51 percent since January 2018.
Chaired by Garry Rogerson
Coherent, Inc. is chaired by Garry Rogerson.
Rogerson has served as Coherent’s Chairman of the Board since June 2007. Since September 2015, Rogerson has been a private investor.
In the position of CEO since 2002
Ambroseo has served as the Company’s President and Chief Executive Officer as well as a member of the Board of Directors since October 2002.
Ambroseo served as the Company’s Chief Operating Officer from June 2001 through September 2002.
Ambroseo served as the Company’s Executive Vice President and as President and General Manager of the Coherent Photonics Group from September 2000 to June 2001.
From September 1997 to September 2000, Ambroseo served as the Company’s Executive Vice President and as President and General Manager of the Coherent Laser Group.
From March 1997 to September 1997, Ambroseo served as the Company’s Scientific Business Unit Manager.
From August 1988, when Ambroseo joined the Company, until March 1997, he served as a Sales Engineer, Product Marketing Manager, National Sales Manager and Director of European Operations.
Ambroseo received a Bachelor degree from SUNY-College at Purchase and a PhD in Chemistry from the University of Pennsylvania.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the likelihood that John Ambroseo was pushed out or felt pressure to leave the position.
exechange reached out to Coherent and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 16.2019 ($).