- Push-out Score determined
- After around 10 years in the position
- Praise, thanks and good wishes for Sims
- John Allison taking over
- Sims said 62 words
(exechange) — Conway, Arkansas, November 7, 2019 — Randy Sims, chief executive of Home BancShares, leaves. As announced by Home BancShares Inc. in a news release and in a regulatory filing published on Thursday, November 7, 2019, C.Randall (Randy) Sims has left his post as Chief Executive Officer at the parent company of Centennial Bank after around 10 years in the role.
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. On an accumulated basis, around 28% of the CEOs who announced their departure over the past 12 months left their posts after more than 10 years.
Randy Sims’s duties as CEO will be taken over by John W. Allison, most recently Chairman of Home BancShares, Inc.
“Spend time with my incredible wife, my five children and 6 grandchildren”
Randy Sims’s departure from the CEO post is explained as follows. Randy Sims said: “[A]t sixty-five years of age, it is now time for me to concentrate and spend time with my incredible wife, my five children and 6 grandchildren and the life adventures ahead of us.”
Precise information regarding Randy Sims’s future plans was not immediately available.
“Retirement”
Home BancShares said: “Jack Engelkes, Director of Home BancShares, has been named as Vice-Chairman of Home BancShares and Tracy French, President and Chief Executive Officer of Centennial Bank, has also been named as Chairman of Centennial Bank. Home BancShares Chairman John Allison will serve as President and Chief Executive Officer of Home BancShares. These positions are being filled by the retirement of Randy Sims.”
Home BancShares further said: “On November 5, 2019, C. Randall Sims announced his retirement as Vice Chairman, Chief Executive Officer and President of Home BancShares, Inc. (“we” or the “Company”), Executive Chairman of the Company’s bank subsidiary, Centennial Bank, and director of the Company and Centennial Bank.”
Share price decline
The announcement follows a decline in Home BancShares, Inc.’s share price of 31% since January 2017.
In the position of CEO since 2009
Randy Sims became CEO of the Company in July 2009.
Over the past twenty years, Sims has served as Executive Chairman and President of Centennial Bank as well as President, Chief Executive Officer and Vice-Chairman of Home BancShares.
Sims has served as Chief Executive Officer of Home BancShares since 2009 and as a director of Home BancShares and Centennial Bank (formerly First State Bank) since 1998.
From 1998 to 2009, he served as Secretary of Home BancShares.
He currently serves as a member of the Asset/Liability Committee.
From 1998 to January 2015, Sims served as the Chief Executive Officer and President of Centennial Bank (formerly First State Bank).
Prior to joining First State Bank, Sims was an executive vice president with First National Bank of Conway.
He holds a Juris Doctor degree from the University of Arkansas at Little Rock School of Law and a Bachelor of Arts degree in accounting and business administration from Ouachita Baptist University in Arkadelphia, Arkansas.
He attended the Graduate School of Banking at the University of Wisconsin and is an honor graduate of the American Bankers Association National Commercial Lending School held at the University of Oklahoma.
Sims formerly served as a Trustee at the University of Central Arkansas and was Chairman of the Conway Christian School Board for 17 years.
He is currently serving on the Board of Trustees at Ouachita Baptist 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.
Read the full story in the exechange report 45.2019 ($).