- Push-out Score determined
- After less than half a year in the position
- Praise and thanks for Miller
- Ralph Andretta taking over
(exechange) — Columbus, Ohio, November 18, 2019 — Melisa Miller, chief executive of Alliance Data, leaves. As announced by Alliance Data Systems Corp. in a news release and in a regulatory filing published on Monday, November 18, 2019, Melisa A. Miller leaves her post as chief executive officer at the provider of loyalty and marketing services after less than half a year in the role, effective immediately.
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 7.4 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 15% left their posts within two years, and 25% left their posts within three years.
Melisa Miller’s duties as CEO will be taken over by Ralph J. Andretta, most recently Managing Director and Head of US Cards of Citigroup.
Charles Horn, vice chairman of Alliance Data, will serve as acting CEO pending the effective date of Andretta’s appointment.
“An opportunistic but carefully considered board decision”
Melisa Miller’s departure from the CEO post is explained as follows. Alliance Data Board Chairman Rob Minicucci said: “Today’s announcement reflects an opportunistic but carefully considered board decision. Earlier this year, the board initiated an executive search for a newly-created chief operating officer position. Consistent with board succession planning, the candidate selected as COO was intended to be positioned as successor to the Alliance Data CEO. As board members came to know Ralph Andretta and understand the breadth and depth of his card business experience, operational leadership strength and financial expertise, it became apparent that Ralph was an exceptional fit for the immediate strategic needs of Alliance Data and the interests of its investors, clients and associates. Hence, a decision was made by the full board to appoint Ralph as the Company’s new CEO. Pending Ralph’s arrival, Charles Horn will continue driving initiatives aimed at streamlining Alliance Data’s cost structure and operating model while overseeing the Company as acting CEO, and Melisa will serve in an advisory role during this interim period.”
Precise information regarding Melisa Miller’s future plans was not immediately available.
Alliance Data said: “Andretta joins Alliance Data from Citigroup, where he most recently served as managing director and head of its U.S. cards business. He succeeds Melisa Miller, who served in the role following the June 2019 retirement of long-time president and CEO Ed Heffernan.”
Alliance Data further said: “Melisa Miller, who has served as Alliance Data’s President and Chief Executive Officer since Ed Heffernan’s retirement in June 2019, stepped down from those positions and as a Director of the Company effective immediately but will continue to serve the Company in an advisory capacity.”
Share price decline
The announcement follows a decline in Alliance Data Systems Corporation’s share price of 24% since June 2019.
Chaired by Rob Minicucci
Alliance Data Systems Corporation is chaired by Rob Minicucci.
In the position of CEO since 2019
Melisa Miller became CEO of the Company in June 2019.
Melisa Miller led Alliance Data’s Card Services business for over 8 years as president.
Melisa Miller has more than 30 years of experience in the credit industry.
Prior to her role as head of Alliance Data’s Card Services business, she served six years as card services’ Senior Vice President and Chief Client Officer, where she was responsible for the management and growth of managing key brand relationships.
Melisa Miller came to Alliance Data from Experian, where she held various leadership roles throughout her 22-year tenure.
In 2015, Melisa Miller joined the Columbus Partnership, a nonprofit coalition of CEOs from Columbus’ leading businesses, with a primary goal of improving the economic vitality of the Columbus, Ohio region.
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 Alliance Data and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 47.2019 ($).