- Push-out Score determined
- After about five years in the position
- Praise and thanks for Agadi
- Rohit Verma taking over
- Agadi said 97 words
(exechange) — Atlanta, Georgia, April 27, 2020 — Harsha Agadi, chief executive of Crawford, leaves. As announced by Crawford & Co. in a news release and in a regulatory filing published on Monday, April 27, 2020, Harsha V. Agadi leaves his post as chief executive officer at the world’s largest independent claims management company after about five years in the role, effective May 15, 2020.
Harsha Agadi’s duties as CEO will be taken over by Rohit Verma, currently chief operating officer of Crawford & Co.
“Planned and orderly transition”
Harsha Agadi’s departure from the CEO post is explained as follows. Charlie Ogburn, the non-executive chairman of the board, said: “I am very pleased with this planned and orderly transition of leadership at Crawford & Company as we turn the page into the next chapter for the company.”
Precise information regarding Harsha Agadi’s future plans was not immediately available.
Crawford said: “Mr. Harsha V. Agadi, after serving as Crawford & Company’s CEO & president for the last five years (2015 -2020), will be transitioning from his role of CEO to return back to the board as a director.”
Crawford further said: “On April 21, 2020, Harsha V. Agadi, President and Chief Executive Officer of Crawford & Company (the “Company”), informed the board of directors (the “Board”) of the Company of his resignation from the positions of President and Chief Executive Officer of the Company. The resignations are effective May 15, 2020. Mr. Agadi has not resigned from the Board.”
Share price increase since August 2015
The announcement follows an increase in Crawford & Co.’s share price of 9% since August 2015.
Chaired by Charlie Ogburn
Crawford & Co. is chaired by Charlie Ogburn.
In the position of CEO since 2015
Harsha Agadi became CEO of the Company in 2015.
Agadi has served on the board of directors since 2010.
Harsha V. Agadi is the President and Chief Executive Officer of the Company, a position he has held since June 2016, and held on an interim basis prior to that and since August 2015.
Agadi has served as a member of the Board of Directors since August 2010.
He also serves as Chairman of GHS Holdings, LLC, an investing and restaurant consulting business, a position he has held since 2000.
He served as Executive Chairman of Quiznos, LLC, a quick service sandwich chain, from February 2012 until August 2014.
From August 2010 until February 2012, Agadi was Chairman and Chief Executive Officer of Friendly’s Ice Cream LLC, a restaurant chain which provides sandwiches and ice cream desserts.
From December 2004 until December 2009, Agadi was President and Chief Executive Officer of Church’s Chicken, a franchised quick service chicken restaurant.
He previously served on the board of Belmond, Ltd. and on the board of The Krystal Company.
Each of Quiznos and Friendly’s Ice Cream filed voluntary petitions under the federal bankruptcy law during the period in which Agadi served as an executive officer of such entities.
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 Crawford and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 18.2020 ($).