- Push-out Score determined
- After less than two years in the position
- Praise and thanks for Aamir
- Steven Boal taking over
(exechange) — Mountain View, California, August 6, 2019 — Mir Aamir, chief executive of Quotient, leaves. As announced by Quotient Technology Inc. in a news release and in a regulatory filing published on Tuesday, August 6, 2019, Mir Aamir has left his post as Chief Executive Officer at the digital promotion and media platform after less than two years in the role, effective August 2, 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 7.4 years, according to data compiled by exechange. Only 13 percent of the CEOs who departed over the past 12 months left their position within two years, and 24 percent left their position within three years.
Mir Aamir’s duties as CEO will be taken over by Steven Boal, most recently Executive Chairman of Quotient Technology Inc.
Mir Aamir’s move is part of a management shake-up also involving the position of President.
No reason given
In the announcement, Quotient did not explicitly explain the reason for Mir Aamir’s move.
Precise information regarding Mir Aamir’s future plans was not immediately available.
“Replacing/stepped down”
Quotient said: “The company also announced that Steven Boal, Founder and Executive Chairman, has returned to Quotient as Chief Executive Officer and Chairman of Quotient, replacing Mir Aamir who will remain with the company as an advisor during a transitionary period.”
Quotient further said: “On August 2, 2019, Mr. Mir Aamir stepped down as the Company’s President and Chief Executive Officer. In connection with his departure, Mr. Aamir resigned from the Board of Directors of the Company (the “Board”) effective August 2, 2019.”
“Not the result of any disagreement”
“Mr. Aamir’s departure is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices,” Quotient said.
Share price decline
The announcement follows a decline in Quotient Technology Inc.’s share price of 32% since September 2017.
In the position of CEO since 2017
Mir Aamir became CEO of the Company in September 2017.
Mir Aamir has served on the Company’s Board since February 2017.
Aamir has served as the Company’s CEO since September 2017 and the Company’s President since September 2015.
Aamir served as the Company’s Chief Operating Officer from October 2013 until September 2017 and the Company’s Chief Financial Officer from October 2013 to September 2015.
From March 2011 to October 2013, Aamir served as President of Customer Loyalty and Digital Technologies at Safeway, Inc. (“Safeway”).
From January 2008 to February 2011, Aamir served as Senior Vice President of Marketing Strategy and Financial Planning and Analysis at Safeway.
From May 2005 to December 2007, Aamir served as Group Vice President, Financial Planning and Analysis for all of Safeway’s U.S. business units.
Aamir holds a B.B.A. and an M.B.A. from the Institute of Business Administration, University of Karachi and an M.B.A. from the University of Chicago Booth School of Business.
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 Quotient and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 32.2019 ($).