- Push-out Score determined
- After about six and a half years in the position
- Praise and thanks for Olsson
- Kelly Williams taking over
- Olsson will remain as non-executive Chairman at Mobile Mini
- Olsson said 127 words
(exechange) — Phoenix, Arizona, May 6, 2019 — Erik Olsson, chief executive of Mobile Mini, leaves his post. His departure is made public at an early stage. As announced by Mobile Mini Inc. in a news release on Monday, May 6, 2019, Erik Olsson leaves his post as Chief Executive Officer at the portable storage company after about six and a half years in the role, effective October 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 7.8 years, according to data compiled by exechange.
Erik Olsson’s duties will be taken over by Kelly Williams, currently Chief Operating Officer of Mobile Mini, Inc.
“Thoughtful and deliberative multi-year approach to succession planning”
Erik Olsson’s departure from the CEO post is explained as follows. Olsson said that Kelly Williams “is the perfect person to lead Mobile Mini through this next phase of its growth, and his appointment is the result of the Board’s thoughtful and deliberative multi-year approach to succession planning.”
Olsson will remain as non-executive Chairman at Mobile Mini
“Kelly Williams, the Company’s President and Chief Operating Officer, will become its Chief Executive Officer on October 1, 2019. At that time, Erik Olsson, the Company’s current Chief Executive Officer, will become the Company’s non-executive Chairman. The Company’s current non-executive Chairman, Mike Watts, will become the Board’s lead independent director,” Mobile Mini said.
Share price decline
The announcement follows a decline in Mobile Mini, Inc.’s share price of 26 percent since July 2018.
Chaired by Mike Watts
Mobile Mini, Inc. is chaired by Mike Watts.
Michael L. Watts has served as a Director since 2002 and as Chairman of the Board since December 2012.
In the position of CEO since 2013
Erik Olsson has been Chief Executive Officer of Mobile Mini, Inc. since March 18, 2013 and was its President until October 2018.
Erik Olsson has served as the Company’s Chief Executive Officer and a member of the Board since his appointment in March 2013.
Olsson also served as the Company’s President from March 2013 to October 2018.
Prior to joining Mobile Mini, Olsson was President, CEO and a director of RSC Holdings, Inc. (“RSC”), a North American equipment rental provider, and certain of its subsidiaries from 2006 until that company was acquired in April 2012.
Olsson joined RSC in 2001 as Chief Financial Officer and became Chief Operating Officer in 2005.
Earlier, Olsson held a number of senior financial management positions in various global businesses of RSC’s former parent company, Atlas Copco Group, in Sweden, Brazil and the United States, including his last assignment as Chief Financial Officer for Milwaukee Electric Tool Corporation in Milwaukee, WI from 1998 to 2000.
He is a Director on the board of Ritchie Brothers Auctioneers Incorporated, the world’s largest industrial auctioneer, and Dometic Group AB, a global manufacturer of products for mobile living.
Olsson also serves on the board of directors of St. Mary’s Foodbank Alliance, one of the world’s largest food banks with a mission to alleviate hunger through the gathering and distribution of food while encouraging self-sufficiency, collaboration, advocacy and education.
Olsson holds a degree in Business Administration and Economics from the University of Gothenburg, Sweden.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Mobile Mini and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 19.2019 ($).