- Push-out Score determined
- After 16 years in the position
- Praise and thanks for Dirks
- Search for a successor
- Dirks said 115 words
(exechange) — Reno, Nevada, June 9, 2020 — Doug Dirks, chief executive of Employers Holdings, leaves. As announced by Employers Holdings Inc. in a news release and in a regulatory filing published on Tuesday, June 9, 2020, Douglas D. (Doug) Dirks leaves his post as chief executive officer at the small business insurance specialist after 16 years in the role, effective April 1, 2021.
It is the end of an era.
Employers Holdings will undertake a search for a successor.
It is a long goodbye. The announcement of Doug Dirks’s move comes up to 10 months prior to his planned departure from the post of CEO.
In general, a top executive who announces the departure particularly early may be considered a lame duck.
Lengthy lead times give boards extra time to find replacements, and they also create uncertainty. Would-be successors may jockey for attention and workers may wonder who is actually in charge.
Generally speaking, lame-duck leaders can take a forceful role in selecting a successor and are not expected to launch major shifts.
No reason given
In the announcement, Employers Holdings did not explicitly explain the reason for Doug Dirks’s move.
Precise information regarding Doug Dirks’s future plans was not immediately available.
Employers Holdings said: “Douglas Dirks, president and chief executive officer, has informed the board of directors of his intention to retire from his position on April 1, 2021.”
Employers Holdings further said: “On June 7, 2020, Douglas D. Dirks informed the Board of Directors of Employers Holdings, Inc. (the “Company”) of his intention to retire as the Company’s president and chief executive officer on April 1, 2021. Mr. Dirks will also conclude his service as a director on that date.”
Share price increase since June 2015
The announcement follows an increase in Employers Holdings Inc.’s share price of 44% since June 2015.
Chaired by Michael J. McSally
Employers Holdings Inc. is chaired by Michael J. McSally.
In the position of CEO since 2005
Doug Dirks became CEO of the Company in 2005.
Douglas D. Dirks has served as a Director, President and Chief Executive Officer of Employers Holdings, EGI and their predecessors since their creation in April 2005.
He also serves as a Director and Chief Executive Officer of EICN (since December 1999), ECIC (since May 2002), EPIC (since November 2008), and EAC (since November 2008), EIG Services, Inc. (since November 2008), Elite Insurance Services, Inc. (since August 1999), CGI (since May 2018), CSI (since May 2018), and CIC (since August 2019).
Dirks is a licensed Certified Public Accountant in the state of Texas.
He presently serves on the Board of Governors of the American Property Casualty Insurance Association and Advisory Board of Kids Chance of America. Dirks holds B.A. and M.B.A. degrees from the University of Texas and a J.D. degree from the University of South Dakota.
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 Employers Holdings and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 24.2020 ($).