- Push-out Score determined
- After 11 years in the position
- Praise for Tucker
- Tim Schools taking over
- Tucker will remain as Chief Executive Officer Emerita at CapStar
- Tucker said 67 words
(exechange) — Nashville, Tennessee, May 14, 2019 — Claire Tucker, chief executive of CapStar, leaves the position. As announced by CapStar Financial Holdings Inc. in a news release on Tuesday, May 14, 2019, Claire W. Tucker leaves her post as Chief Executive Officer at the bank holding company after 11 years in the role, effective July 31, 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 7.9 years, according to data compiled by exechange. Only 30 percent of the CEOs who departed over the past 12 months left the position after more than 10 years.
Claire Tucker’s duties will be taken over by Timothy K. (Tim) Schools, most recently Chief Executive Officer of Highlands Bancshares, Inc.
The fact that Claire Tucker’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
“Leadership continuity to deliver on CapStar’s future strategic plans”
Claire Tucker’s departure from the CEO post is explained as follows. Dennis Bottorff, Chairman of the Board, said: “Today’s announcement provides for leadership continuity to deliver on CapStar’s future strategic plans.”
Tucker will remain as Founding President and Chief Executive Officer Emerita at CapStar
Effective May 13, 2019, Claire W. Tucker will “step aside” as President of the Company and as President and Chief Executive Officer of CapStar Bank and will be succeeded by Timothy K. Schools.
Schools will be President and Chief Executive Officer of the Bank and President of the Company, and Tucker will continue as Chief Executive Officer of the Company.
On July 31, 2019, Schools will succeed Tucker as Chief Executive Officer of the Company.
“Tucker will then serve as Founding President and Chief Executive Officer Emerita until May 31, 2021,” CapStar said.
Share price decline
The announcement follows a decline in CapStar Financial Holdings, Inc.’s share price of 29 percent since January 2018.
Chaired by Dennis Bottorff
CapStar Financial Holdings, Inc. is chaired by Dennis Bottorff.
Bottorff was one of the founders of CapStar Bank and currently serves as Chairman of the Company’s Board of Directors and as a member of the Nominating, Governance and Community Affairs Committee, the Compensation and Human Resources Committee and the Credit Committee. Bottorff has served on the Company’s Board of Directors since 2008.
In the position of CEO since 2008
Tucker has served as a director, President and Chief Executive Officer for CapStar Financial Holdings, Inc. as well as Chief Executive Officer and Interim President of CapStar Bank.
Tucker has served on the Company’s Board of Directors since 2008.
She is a member of the Credit Committee and the Risk Committee.
After raising more than $88 million in start-up capital, a record for a de novo bank in Tennessee, in 2008 Tucker led the founding of CapStar, which is now a two billion-dollar financial institution.
Tucker began her banking career in 1975 at First American National Bank and advanced to holding the office of president of corporate banking by 1996.
When the bank was sold to AmSouth in 1999, she was named Senior Executive VP responsible for all commercial banking activities in six southeastern states and New York.
In 2019, Tucker was appointed to a three year term as a director of the Federal Reserve Bank of Atlanta; she previously served two 3-year terms as a director of the Sixth Federal Reserve District’s Community Depository Institutions Advisory Council (CDIAC) and for 2 years as a director of the Federal Reserve Bank of Atlanta – Nashville Branch.
Tucker is a board member of Belmont University, the Nashville Area Chamber of Commerce, the Tennessee Performing Arts Center (TPAC), the Entrepreneur Center and the Nashville Healthcare Council.
She has chaired the boards of TPAC, the Nashville Ballet, Nashville’s Table, St. Luke’s Community House, Tennessee Wesleyan College and others.
She is a graduate of the Leadership Nashville class of 1996, Tennessee Wesleyan College and the Stonier Graduate School of Banking at Rutgers University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to CapStar and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 20.2019 ($).