- Push-out Score determined
- After about nine years in the position
- Accolades, praise, thanks and good wishes for Elich
- Gary Kramer taking over
- Elich said 73 words
(exechange) — Vancouver, Washington, March 5, 2020 — Mike Elich, chief executive of Barrett Business, leaves. As announced by Barrett Business Services Inc. in a news release and in a regulatory filing published on Thursday, March 5, 2020, Michael L. (Mike) Elich leaves his post as chief executive officer at the provider of business management solutions for small and mid-sized companies after about nine years in the role, effective immediately.
Mike Elich’s duties as CEO will be taken over by Gary E. Kramer, most recently Chief Financial Officer of Barrett Business Services Inc.
“Aligned with the Board’s management succession and transition process”
A clear and transparent reason for Mike Elich’s departure from the CEO post was not explicitly provided. Barrett Business said: “Mr. Elich’s retirement is aligned with the Board’s management succession and transition process that has been under discussion for several months.”
Precise information regarding Mike Elich’s future plans was not immediately available.
Barrett Business said: “Barrett Business Services, Inc. (BBSI) (NASDAQ: BBSI), a leading provider of business management solutions, announced the retirement of Michael Elich as Chief Executive Officer. Mr. Elich is also retiring from the company’s Board of Directors.”
Barrett Business further said: “Gary E. Kramer, BBSI’s Chief Financial Officer (“CFO”), has been appointed to succeed Michael L. Elich as the Company’s President and Chief Executive Officer (“CEO”) effective March 5, 2020.”
Share price increase since January 2015
The announcement follows an increase in Barrett Business Services Inc.’s share price of 94% since January 2015.
Chaired by Anthony Meeker
Barrett Business Services Inc. is chaired by Anthony Meeker.
In the position of CEO since 2011
Mike Elich became CEO of the Company in 2011.
Elich joined BBSI in 2001 and was appointed as CEO in 2011.
Elich, who has served as President and CEO and as a director of BBSI since 2011, retired from those positions effective March 5, 2020.
Michael L. Elich joined the Company in October 2001 as Director of Business Development.
He was appointed Vice President and Chief Operating Officer in May 2005.
He was appointed interim President and Chief Executive Officer in January 2011 upon the death of William W. Sherertz.
Effective February 17, 2011, Elich was elected to the Board and his position as President and Chief Executive Officer was confirmed.
From 1995 to 2001, Elich served as Executive Vice President and Chief Operating Officer of Skills Resource Training Center, a staffing services company with offices in Oregon, Washington and Idaho that was later acquired by the Company in 2004.
Elich graduated from Montana State University with a B.S. degree in Economic Science.
He is a member of Tournament Golf Foundation, a non-profit organization that has donated more than $18 million to charities since its inception in 1972.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Barrett Business and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 10.2020 ($).