- Push-out Score determined
- After about nine years in the position
- Seth Blackley taking over
- Williams will remain as Executive Chairman at Evolent
- Williams spoke at length and said 157 words
(exechange) — Washington, D.C., August 4, 2020 — Frank Williams, chief executive of Evolent, leaves his position. As announced by Evolent Health Inc. in a news release and in a regulatory filing published on Tuesday, August 4, 2020, Frank Williams leaves his post as chief executive officer at the health care company after about nine years in the role, effective October 1, 2020.
Frank Williams’s duties as CEO will be taken over by Seth Blackley, currently President of Evolent Health Inc.
No reason given
In the announcement, Evolent did not explicitly explain the reason for Frank Williams’s move.
Williams will remain as Executive Chairman at Evolent
“Frank Williams, currently CEO, will remain as Executive Chairman,” Evolent said.
“Resigned”
Evolent said: “On August 4, 2020, in connection with Mr. Blackley’s promotion, Mr. Williams resigned from his position as Chief Executive Officer of the Company, with effect from the Effective Date [October 1, 2020].”
Share price decline
The announcement follows a decline in Evolent Health Inc.’s share price of 46% since August 2015.
In the position of CEO since 2011
Frank Williams became CEO of the Company in 2011.
Williams, 54, has served as the Co-Founder, Chief Executive Officer and a Director of the Company since August 2011.
Earlier in his career Williams was Chairman and Chief Executive Officer at The Advisory Board Company. Prior to joining The Advisory Board Company, Williams served as President of MedAmerica, President of Vivra Orthopedics, and as a management consultant for Bain & Co.
Williams holds a BA degree in Political Economies of Industrial Societies from the University of California, Berkeley, and an MBA from Harvard Business School.
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 Evolent and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 32.2020 ($).