- Push-out Score determined
- Praise, thanks and words of regret for Wilkinson
- Search for a successor
- Wilkinson said 62 words
(exechange) — Goleta, California, June 9, 2020 — Scott Wilkinson, chief executive of Inogen, prepares for his departure. As announced by Inogen Inc. in a news release and in a regulatory filing published on Tuesday, June 9, 2020, Scott Wilkinson leaves his post as chief executive officer at the medical technology company after about five years in the role, effective before the end of 2021.
Inogen will undertake a search for a successor.
It is a long goodbye. The announcement of Scott Wilkinson’s move comes up to 19 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.
“Now is the right time”
Scott Wilkinson’s departure from the CEO post is explained as follows. Wilkinson said: “After 15 years with the Company, I believe now is the right time to begin the transition to the next phase of leadership.”
Precise information regarding Scott Wilkinson’s future plans was not immediately available.
Inogen said: “Inogen, Inc. (NASDAQ: INGN), a medical technology company offering innovative respiratory products for use in the homecare setting, today announced that in connection with Inogen’s succession planning activities, Scott Wilkinson, the Company’s Chief Executive Officer and President, has informed the Company’s Board of Directors (the “Board”) that he intends to retire as Chief Executive Officer and President, and as a member of the Board, in each case before the end of 2021.”
Inogen further said: “On June 8, 2020, as part of Inogen, Inc.’s, (the “Company”) succession planning activities, Scott Wilkinson, the Company’s Chief Executive Officer and President, informed the Company’s Board of Directors (the “Board”) that he intends to retire as Chief Executive Officer and President of the Company before the end of 2021.”
“Not as a result of any disagreement”
“Mr. Wilkinson’s decision to retire is voluntary and is not as a result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices,” Inogen said.
Share price decline
The announcement follows a decline in Inogen Inc.’s share price of 85% since September 2018.
Chaired by Heath Lukatch
Inogen Inc. is chaired by Heath Lukatch.
Heath Lukatch, Ph.D. has served as Chairperson of the Company’s Board since 2008, and as a director since 2006.
In the position of CEO since 2017
Scott Wilkinson became CEO of the Company in 2017.
Scott Wilkinson has served as the Company’s Chief Executive Officer and President since March 1, 2017, and a Member of the Company’s Board since January 1, 2017.
Previously, he served as the Company’s President and Chief Operating Officer from January 1, 2016 through February 28, 2017, and the Company’s Executive Vice President, Sales and Marketing from 2008 through December 31, 2015, and in this role, he oversaw Inogen’s global operations in sales, marketing, customer service, product management, medical billing, and clinical services.
Prior to that, he served as the Company’s Director of Product Management from 2005 to 2006 and Vice President, Product Management from 2006 to 2008.
From 2000 to 2005, Wilkinson worked for Invacare Corporation, a designer and manufacturer of oxygen products, as a Group Product Manager and helped launch their $100 million oxygen product line segment.
From 1999 to 2000, Wilkinson served as a Product Line Director with Johnson & Johnson, a healthcare company.
From 1988 to 1999, Wilkinson worked as a Research Scientist, Product Manager, and Project Leader at Kimberly Clark, a consumer products company.
Wilkinson received a Bachelor of Science degree in Chemical Engineering from the University of Akron and an M.B.A. from University of Wisconsin, Oshkosh.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Inogen and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 24.2020 ($).