- Push-out Score determined
- After around 10 years in the position
- Accolades and praise for Brondeau
- Mark Douglas taking over
- Brondeau will remain as executive chairman at FMC
- Brondeau said 96 words
(exechange) — Philadelphia, Pennsylvania, December 18, 2019 — Pierre Brondeau, chief executive of FMC, leaves his position. As announced by FMC Corp. in a news release and in a regulatory filing published on Wednesday, December 18, 2019, Pierre Brondeau leaves his post as chief executive officer at the agricultural sciences company after around 10 years in the role, effective May 31, 2020.
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 7.6 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.
Pierre Brondeau’s duties as CEO will be taken over by Mark Douglas, currently chief operating officer of FMC Corp.
“Careful and thorough assessment”
Pierre Brondeau’s departure from the CEO post is explained as follows. Brondeau said: “Mark has been elected following the Board’s careful and thorough assessment of the experience, track record and leadership qualities needed to lead FMC.”
Brondeau will remain as executive chairman at FMC
“Pierre Brondeau will continue to serve as chairman and CEO through May 31, 2020, at which time he will become executive chairman and remain a member of the Board of Directors,” FMC said.
Share price increase since January 2016
The announcement follows an increase in FMC Corp.’s share price of 226% since January 2016.
In the position of CEO since 2010
Pierre Brondeau became CEO of the Company in 2010.
Brondeau was elected Chairman of the Company in October 2010.
Before joining the Company as President and Chief Executive Officer in January 2010, Brondeau served as President and Chief Executive Officer, Dow Advanced Materials Division, until his retirement in September 2009.
Prior to Dow’s acquisition of Rohm and Haas Company in April 2009, he was President and Chief Operating Officer of Rohm and Haas from May 2008.
Brondeau held numerous executive positions during his tenure at Rohm and Haas from 1989 through May 2008.
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 FMC and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 51.2019 ($).