- Push-out Score determined
- After almost 20 years in the position
- Praise, thanks and good wishes for Gorder
- Scott Longval taking over
- Gorder spoke at length and said 131 words
(exechange) — Arden Hills, Minnesota, June 25, 2020 — Mark Gorder, chief executive of IntriCon, leaves. As announced by IntriCon Corp. in a news release on Thursday, June 25, 2020, Mark S. Gorder leaves his post as chief executive officer at the manufacturer of miniature interventional, implantable and body-worn medical devices after almost 20 years in the role, effective September 30, 2020.
It is the end of an era.
Mark Gorder’s duties as CEO will be taken over by J.Scott Longval, currently Chief Operating Officer and Chief Financial Officer of IntriCon Corp.
It is a generational change as well. Scott Longval is about 30 years younger than Mark Gorder.
Concurrently, IntriCon announced that it has commenced a search for a new CFO to replace Longval.
No reason given
In the announcement, IntriCon did not explicitly explain the reason for Mark Gorder’s move.
Precise information regarding Mark Gorder’s future plans was not immediately available.
IntriCon said: “Mr. Longval will succeed Mark Gorder, who will retire as President and CEO effective September 30, 2020, positions he has held since 2001.”
Share price decline
The announcement follows a decline in IntriCon Corp.’s share price of 83% since September 2018.
In the position of CEO since 2001
Mark Gorder became CEO of the Company in 2001.
Gorder has agreed to remain in an executive advisory consultant capacity to facilitate a smooth transition through December 31, 2020 and will continue as a director of the company for the balance of his term.
Mark S. Gorder became a director in January 1996.
Gorder has served as the President and Chief Executive Officer of the Corporation since April 2001; President and Chief Operating Officer of the Corporation from December 2000 to April 2001; and Vice President of the Corporation from 1996 to December 2000.
Gorder has been President and Chief Executive Officer of IntriCon, Inc., a subsidiary of the Corporation, since 1983.
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 IntriCon and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 26.2020 ($).