- Push-out Score determined
- After about two and a half years in the position
- Accolades, praise, thanks and good wishes for Robbins
- Clint Stein taking over
- Robbins spoke at length and said 143 words
(exechange) — Tacoma, Washington, September 30, 2019 — Hadley Robbins, chief executive of Columbia Banking, leaves. As announced by Columbia Banking System Inc. in a news release on Monday, September 30, 2019, Hadley S. Robbins leaves his post as Chief Executive Officer at the bank holding company after about two and a half years in the role, effective December 31, 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 announced their departure over the past 12 months was 7.2 years, according to data compiled by exechange. On an accumulated basis, around 26% of the CEOs who announced their departure over the past 12 months left their posts within three years.
Hadley Robbins’s duties as CEO will be taken over by Clint E. Stein, currently Chief Operating Officer of Columbia Banking System, Inc.
“Planned, multi-year succession process”
Hadley Robbins’s departure from the CEO post is explained as follows. Craig Eerkes, Chairman of Columbia’s Board of Directors, said: “The transition is the result of a planned, multi-year succession process that included Clint’s transition from Chief Financial Officer to Chief Operating Officer in 2017.”
Precise information regarding Hadley Robbins’s future plans was not immediately available.
Columbia Banking said: “President and Chief Executive Officer Hadley Robbins will retire on December 31, 2019 after nearly seven years of service with the company and nearly forty years in banking.”
Share price decline
The announcement follows a decline in Columbia Banking System, Inc.’s share price of 7% since July 2017.
Chaired by Craig Eerkes
Columbia Banking System, Inc. is chaired by Craig Eerkes.
He joined Columbia’s board of directors on September 2, 2014.
In the position of CEO since 2017
Hadley Robbins became CEO of the Company in July 2017.
Robbins was named President and Chief Executive Officer of Columbia and Columbia Bank effective July 1, 2017.
He was appointed Interim Chief Executive Officer of Columbia and Columbia Bank in February 2017, following the unexpected passing of Melanie J. Dressel, and prior to that, served as Executive Vice President and Chief Operating Officer of Columbia Bank since March 2014.
He joined Columbia Bank as Senior Vice President and Oregon Group Manager in April 2013, when Columbia acquired West Coast Bancorp, where Robbins had served as Executive Vice President and Chief Credit Officer since 2007.
Robbins has over 35 years of banking experience and has held senior level positions with Wells Fargo Bank and community banks in the Pacific Northwest.
He holds an M.B.A. from the University of Oregon and a B.S. in Business Administration from Lewis and Clark College.
He currently serves on the boards of directors for the Multicare Foundation, Pacific Coast Bankers School (PCBS) and the Oregon Bankers Association.
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 Columbia Banking and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 40.2019 ($).