- Push-out Score determined
- After about five years in the position
- Praise and thanks for O’Connell
- Search for a successor
- O’Connell said 115 words
(exechange) — Milford, Massachusetts, June 17, 2020 — Chris O’Connell, chief executive of Waters, leaves — as “mutually agreed.” As announced by Waters Corp. in a news release and in a regulatory filing published on Wednesday, June 17, 2020, Christopher J. (Chris) O’Connell leaves his post as chief executive officer at the analytical laboratory instrument and software company after about five years in the role, effective when a successor is appointed.
Waters will undertake a search for a successor.
“It is the right time”
Chris O’Connell’s departure from the CEO post is explained as follows. O’Connell said: “The Board and I agree that it is the right time for this thoughtful succession process, and I am committed to supporting a smooth transition for the benefit of all of our stakeholders.”
Precise information regarding Chris O’Connell’s future plans was not immediately available.
“Step down”
Waters said: “[T]he Company’s Board of Directors and Christopher O’Connell have mutually agreed that Mr. O’Connell will step down as President, Chief Executive Officer and as a member of the Board when a successor is appointed. At that time, he will remain with Waters as an advisor until the end of this year to support the transition.”
Share price increase since September 2015
The announcement follows an increase in Waters Corp.’s share price of 60% since September 2015.
Chaired by Flemming Ornskov
Waters Corp. is chaired by Flemming Ornskov.
In the position of CEO since 2015
Chris O’Connell became CEO of the Company in 2015.
His bio reads as follows:
President and Chief Executive Officer (March 2020 to present; September 2015 to January 2018); Chief Executive Officer and Chairman (January 2018 to March 2020)
Executive Vice President and President of the Restorative Therapies Group at Medtronic plc (August 2009 to August 2015); served in the following positions at Medtronic plc: Senior Vice President and President of Medtronic Diabetes, President of Medtronic Physio-Control, Vice President of Sales and Marketing for the Cardiac Rhythm Management business, Vice President/General Manager of the Patient Management business, Vice President of Corporate Strategy, Director of Investor Relations, and Corporate Development Associate (1994 to August 2009).
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 Waters and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 25.2020 ($).