- Push-out Score determined
- After less than one year in the position
- Praise and thanks for Ratzesberger
- Vic Lund taking over in the interim
- Search for a successor
(exechange) — San Diego, California, November 7, 2019 — Oliver Ratzesberger, chief executive of Teradata, leaves — “upon mutual agreement.” As announced by Teradata Corp. in a news release and in a regulatory filing published on Thursday, November 7, 2019, Oliver G. Ratzesberger has left his post as Chief Executive Officer at the cloud-based data analytics company after less than one year in the role, effective November 5, 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 7.5 years, according to data compiled by exechange. Around 4% of the CEOs who announced their departure over the past 12 months left their posts within their first year. On an accumulated basis, around 14% left their posts within two years, and 25% left their posts within three years.
Teradata will undertake a search for a successor.
Oliver Ratzesberger’s duties as CEO will be taken over in the interim by Victor L. (Vic) Lund, most recently Executive Chairman of Teradata Corporation, as Interim Chief Executive Officer.
It is a reverse generational change. Vic Lund is about 24 years older than Oliver Ratzesberger.
“To accelerate the execution”
Oliver Ratzesberger’s departure from the CEO post is explained as follows. Lund said: “Ultimately, the board decided that now is the right time to identify a new CEO to accelerate the execution of the transformation, in order to achieve our vision and growth strategy. The board remains confident that Teradata’s market-leading position in cloud-based data and analytics, talented team and strong foundation will drive us forward as we execute our transformation strategy, continue to innovate, and provide exceptional value to our customers through the power of data.”
Precise information regarding Oliver Ratzesberger’s future plans was not immediately available.
“Is no longer serving/removal”
Teradata said: “Upon mutual agreement between the Teradata board and Oliver Ratzesberger, as of November 5, 2019, Mr. Ratzesberger is no longer serving as President and Chief Executive Officer and he has resigned from Teradata’s board.”
Teradata further said: “On November 7, 2019, the Company issued a press release (the “Management Change Press Release”) announcing that, on November 4, 2019, Teradata’s Board of Directors (the “Board”) elected Victor L. Lund as Interim President and Chief Executive Officer (“CEO”) of the Company, effective as of November 5, 2019 (the “Effective Date”), and that, upon mutual agreement between the Board and Oliver Ratzesberger, as of the Effective Date, Mr. Ratzesberger is no longer serving as President and Chief Executive Officer. In connection with his removal as President and CEO, Mr. Ratzesberger has resigned from the Board as of the Effective Date.”
Share price decline
The announcement follows a decline in Teradata Corporation’s share price of 36% since March 2019.
In the position of CEO since 2019
Oliver Ratzesberger became CEO of the Company in January 2019.
Ratzesberger has been the President and Chief Executive Officer of Teradata since January 2019.
Previously, from February 2018 until 2019, he served as Teradata’s Chief Operating Officer with responsibility for the Company’s operations and strategies for go-to-market, product development and innovation, marketing, and customer support and services.
From August 2016 to February 2018, he was the Executive Vice President and Chief Product Officer with responsibility for the research and development of Teradata’s data and analytics solutions.
Previously, from 2015 to August 2016, he was President, Teradata Labs and, from 2013 to 2015, led the software teams for Teradata Labs.
Before joining Teradata, Ratzesberger served as Vice President, Information Analytics and Innovation at Sears Holdings Corporation from 2011 until 2013.
Prior to that, from 2004 until 2011, he was Senior Director, Analytics Platform at eBay, Inc. where he was responsible for its data warehouse and big data platforms.
Before joining eBay, Ratzesberger worked for both Fortune 500 and early-stage companies, holding positions of increasing responsibility in software development and information technology.
Ratzesberger joined the Company’s board in November 2018.
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 Teradata and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 45.2019 ($).