- Push-out Score determined
- After nine years in the position
- Accolades and praise for O’Donnell
- Julie Schertell taking over
- O’Donnell said 68 words
(exechange) — Alpharetta, Georgia, February 11, 2020 — John O’Donnell, chief executive of Neenah, leaves. As announced by Neenah Inc. in a news release and in a regulatory filing published on Tuesday, February 11, 2020, John P. O’Donnell leaves his post as chief executive officer at the maker of technical products, paper and packaging after nine years in the role, effective May 21, 2020.
John O’Donnell’s duties as CEO will be taken over by Julie A. Schertell, currently Chief Operating Officer of Neenah Inc.
“Succession planning process”
John O’Donnell’s departure from the CEO post is explained as follows. Bill Cook, Chairman of the Board, said: “As part of our ongoing CEO and key officer succession planning process, our Board of Directors has done considerable work over the past several years to ensure we effectively select John’s successor as CEO and accomplish a successful transition.”
Precise information regarding John O’Donnell’s future plans was not immediately available.
Neenah said: “Neenah, Inc. (NYSE: NP) announced today that John P. O’Donnell will retire as Chief Executive Officer and as a member of the Board of Directors effective on May 21, 2020, and that the Board of Directors has unanimously elected Julie A. Schertell, Senior Vice President and Chief Operating Officer, to succeed him in both roles. Ms. Schertell will join Neenah’s Board effective immediately.”
Neenah further said: “On February 11, 2020, Neenah, Inc. (the “Company”) announced that its Board of Directors (the “Board”) has approved an executive succession plan under which John P. O’Donnell will retire as Chief Executive Officer and as a member of the Board, both effective as of May 21, 2020, and has unanimously elected Julie A. Schertell to succeed Mr. O’Donnell as Chief Executive Officer.”
Share price increase since May 2011
The announcement follows an increase in Neenah Inc.’s share price of 202% since May 2011.
Chaired by Bill Cook
Neenah Inc. is chaired by Bill Cook.
William M. Cook, born 1953, is the former Executive Chairman (2015-2016) of Donaldson Company Inc., a technology-driven global company that manufacturers filtration systems to remove contaminants from air and liquids.
In the position of CEO since 2011
John O’Donnell became CEO of the Company in 2011.
John P. O’Donnell, born in 1960, is President and Chief Executive Officer of Neenah and previously served as Chief Operating Officer from 2010 to 2011 and President, Fine Paper from 2007 to 2010.
Prior to joining Neenah in 2007, O’Donnell was with Georgia Pacific Corporation since 1985 and held increasingly senior management positions in the Consumer Products division.
O’Donnell served as President of the North American Retail Business from 2004 through 2007 and as President of the North American Commercial Tissue business from 2002 through 2004.
O’Donnell received his BS from Iowa State University.
O’Donnell has served as a director of Neenah since 2010.
O’Donnell has also served as a director for Clearwater Paper since April 2016.
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 Neenah and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 7.2020 ($).