- Push-out Score determined
- After around 27 years in the position
- Accolades, praise and thanks for McConnell
- Andy Rose taking over
- McConnell will remain as Executive Chairman at Worthington
- McConnell said 67 words
(exechange) — Columbus, Ohio, June 24, 2020 — John McConnell, chief executive of Worthington, leaves his position. As announced by Worthington Industries Inc. in a news release on Wednesday, June 24, 2020, John P. McConnell leaves his post as chief executive officer at the metals manufacturing company after around 27 years in the role, effective September 1, 2020.
It is the end of an era.
John McConnell’s duties as CEO will be taken over by B.Andrew (Andy) Rose, currently President of Worthington Industries Inc.
“John has been thorough in his succession planning”
John Blystone, lead director of Worthington’s Board of Directors, said: “The board expects a seamless and effective transition as John has been thorough in his succession planning.”
McConnell will remain as Executive Chairman at Worthington
“B. Andrew (Andy) Rose, the Company’s President, will become President and Chief Executive Officer (CEO), effective Sept. 1, 2020, succeeding long-time Chairman and CEO John P. McConnell who will remain with the Company as Executive Chairman,” Worthington said.
Share price increase since June 2015
The announcement follows an increase in Worthington Industries Inc.’s share price of 41% since June 2015.
In the position of CEO since 1993
John McConnell became CEO of the Company in 1993.
As executive chairman, McConnell will continue to work with Rose, the executive team and the board to develop Company strategy and help identify value-enhancing strategic initiatives including acquisitions, joint ventures and strategically important relationships.
John P. McConnell has served as the Company’s Chief Executive Officer since June 1993, as a director of the Company continuously since 1990, and as Chairman of the Board of the Company since September 1996.
He served in various positions with Worthington Industries from 1975 to June 1993.
McConnell also serves as the Chair of the Executive Committee.
He currently serves as Vice Chairman and has been a director of OhioHealth Corporation since 2014.
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 Worthington and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 26.2020 ($).