- Push-out Score determined
- After around 14 years in the position
- Praise and thanks for Carlucci
- Search for a successor
- Carlucci made a lengthy statement and said 216 words
(exechange) — Beverly, Massachusetts, March 16, 2020 — Joe Carlucci, chief executive of American Renal, leaves. As announced by American Renal Associates Holdings Inc. in a news release and in a regulatory filing published on Monday, March 16, 2020, Joseph A. (Joe) Carlucci leaves his post as chief executive officer at the kidney care and dialysis provider after around 14 years in the role, effective by the end of 2020.
American Renal will undertake a search for a successor.
“Now is the right time”
Joe Carlucci’s departure from the CEO post is explained as follows. Carlucci said: “Now is the right time for a new leader who can build on our established foundation and further realize ARA’s growth opportunities in a way that still prioritizes our Core Values.”
Precise information regarding Joe Carlucci’s future plans was not immediately available.
American Renal said: “Joseph (Joe) Carlucci has communicated his intention to retire as Chief Executive Officer of the Company by the end of 2020.”
American Renal further said: “On March 13, 2020, American Renal Associates Holdings, Inc. (the “Company”) entered into a Transition Services Agreement with Joseph A. Carlucci, under which Mr. Carlucci will transition out of his role as Chairman of the Company’s Board of Directors (the “Board”) and Chief Executive Officer of the Company, and resign as a member of the Board (the “Transition Services Agreement”).”
Share price decline
The announcement follows a decline in American Renal Associates Holdings Inc.’s share price of 54% since March 2017.
In the position of CEO since 2006
Joe Carlucci became CEO of the Company in 2006.
Joseph A. Carlucci is a co-founder of the Company and has served as Chief Executive Officer since 2005 and as Chairman of the Board since 2012.
Carlucci has more than 40 years of experience in the dialysis services industry. Carlucci also served as the Company’s Chief Operating Officer and Treasurer from the Company’s inception in 1999 to 2005.
Prior to co-founding the Company, Carlucci served as President and Chief Executive Officer of Optimal Renal Care, a joint venture between Fresenius Medical Care North America (“FMCNA”) and Kaiser Permanente of Southern California designed as a disease management organization providing additional opportunities to improve treatment outcomes, improve cost structures, and implement new technologies and methods of dialysis care.
Prior to that, Carlucci served as Vice President of Administration at FMCNA and was responsible nationally for managed care, medical director relations and facility development.
He has operations experience from Facility Administrator to Director of U.S. Operations at FMCNA.
Carlucci also serves on the board of directors of the Colorado Center for Reproductive Medicine.
Carlucci holds a B.S. in Accounting from Bentley 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 12.2020 ($).