- Push-out Score determined
- After about six years in the position
- Praise and thanks for Colella
- John Lee taking over
- Colella will remain as Chairman at MKS Instruments
- Colella said 111 words
(exechange) — Andover, Massachusetts, May 9, 2019 — Jerry Colella, chief executive of MKS Instruments, leaves his post. His departure is made public at an early stage. As announced by MKS Instruments Inc. in a news release and in a regulatory filing published on Thursday, May 9, 2019, Gerald G. (Jerry) Colella leaves his post as Chief Executive Officer at the provider of technologies that enable advanced processes and improve productivity after about six years in the role, effective January 1, 2020.
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.
Jerry Colella’s duties will be taken over by John T.C. Lee, currently Chief Operating Officer of MKS Instruments, Inc.
No reason given
In the announcement, MKS Instruments did not explicitly explain the reason for Jerry Colella’s move.
Colella will remain as Chairman at MKS Instruments
“Mr. Colella will take on the role of Chairman of the Board of Directors, following the company’s annual meeting in May 2020, when John R. Bertucci, current Chairman of the Board, will retire from the Board and become Chairman Emeritus,” MKS Instruments said.
MKS Instruments said: “Gerald G. Colella will retire as Chief Executive Officer January 1, 2020.”
MKS Instruments further said: “On May 8, 2019, Gerald G. Colella, the Chief Executive Officer of MKS Instruments, Inc. … announced his retirement as Chief Executive Officer of the Company, effective January 1, 2020.”
Share price decline
The announcement follows a decline in MKS Instruments, Inc.’s share price of 31 percent since March 2018.
Chaired by John R. Bertucci
MKS Instruments, Inc. is chaired by John R. Bertucci.
In the position of CEO since 2014
Colella has served as the Company’s Chief Executive Officer since January 2014.
Additionally, he served as the Company’s President from February 2013 to May 2018.
He served as the Company’s Chief Operating Officer from January 2010 until December 2013 (additionally serving as Vice President until his promotion to President in February 2013).
He served as the Company’s Vice President and Chief Business Officer from April 2005 until January 2010.
In addition, Colella also served as the Company’s Acting Group Vice President, PRG Products, from July 2007 to March 2010.
From October 1997 to April 2005, he served as the Company’s Vice President, Global Business and Service Operations; from March 1996 to October 1997, he served as the Company’s Director of Materials Planning and Logistics; and from 1994 to 1996, he served as the Company’s Materials Planning and Logistics Manager. Colella joined MKS in 1983.
He holds a B.A. in Secondary Education from the University of Massachusetts and an M.B.A. from Southern New Hampshire University.
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 MKS Instruments and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 19.2019 ($).