- Push-out Score determined
- After about four and a half years in the position
- Praise, thanks and good wishes for Miller
- Harold Bevis taking over
(exechange) — New Albany, Ohio, March 23, 2020 — Pat Miller, chief executive of CVG, leaves. As announced by Commercial Vehicle Group Inc. in a news release on Monday, March 23, 2020, Patrick E. (Pat) Miller leaves his post as chief executive officer at the supplier of cab systems in the heavy-duty truck, construction and agricultural equipment markets after about four and a half years in the role, effective immediately.
Pat Miller’s duties as CEO will be taken over by Harold C. Bevis, most recently Chief Executive Officer of Boxlight Inc.
Already a director
Bevis is already a director of CVG. Generally speaking, most director-turned-CEO appointments occur following a sudden resignation of the outgoing CEO and signal a lack of preparedness on the company’s part to groom internal talent. Directors-turned-executives represent a blend of outsider and insider.
They don’t have the constraints of a pure insider when it comes to leading painful changes or making unpopular decisions, and they have more company knowledge than a pure outsider.
Having been a director, Bevis understands the expectations and dynamics of the board and has knowledge of CVG’s organization, risk-management practices and strategy.
“The right leader for the company at this time”
CVG did not give an explicit reason for Pat Miller’s departure from the CEO post. Chairman of the Board of Directors, Robert C. Griffin, said: “I have worked closely with Harold as a fellow director at CVG for nearly six years and believe he is the right leader for the company at this time.”
Precise information regarding Pat Miller’s future plans was not immediately available.
CVG said: “Commercial Vehicle Group, Inc. (the “Company” or “CVG”) (NASDAQ: CVGI), a leading supplier of fully-integrated system solutions for the global commercial vehicle market, announced today that the independent members of its Board of Directors has unanimously appointed Harold C. Bevis as President and Chief Executive Officer, replacing Patrick E. Miller effective immediately. Mr. Bevis will also remain a Director of the Company.”
Share price decline
The announcement follows a decline in Commercial Vehicle Group Inc.’s share price of 84% since January 2018.
Chaired by Robert C. Griffin
Commercial Vehicle Group Inc. is chaired by Robert C. Griffin.
In the position of CEO since 2015
Pat Miller became CEO of the Company in 2015.
Patrick E. Miller has served as President and Chief Executive Officer and a Director since November 2015.
Miller, who most recently was President of the Company’s Global Truck & Bus Segment, has been with the Company since 2005.
During this time, he served in the capacity of Senior Vice President & General Manager of Aftermarket; Senior Vice President of Global Purchasing; Vice President of Global Sales; Vice President & General Manager of North American Truck and Vice President & General Manager of Structures.
As of December 2018, Miller was appointed to the board of directors for Federal Signal Corporation, where he serves as a member of the Audit Committee.
Prior to joining the Company, Miller held engineering, sales, and operational leadership positions with Hayes Lemmerz International, Alcoa, Inc. and ArvinMeritor.
He holds a Bachelor of Science in Industrial Engineering from Purdue University and a Masters of Business Administration from the Harvard University Graduate School of Business.
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 13.2020 ($).