- Push-out Score determined
- After less than three years in the position
- Thanks for Ponton
- Rob Mellor taking over in the interim
- Search for a successor
- Ponton said 84 words
(exechange) — Rochester, New York, August 6, 2020 — Brett Ponton, chief executive of Monro, leaves. As announced by Monro Inc. in a news release and in a regulatory filing published on Thursday, August 6, 2020, Brett T. Ponton leaves his post as chief executive officer at the provider of automotive undercar repair and tire services after less than three years in the role, effective August 19, 2020.
Monro will undertake a search for a successor.
Brett Ponton’s duties as CEO will be taken over in the interim by Robert E. (Rob) Mellor, currently Chairman of the Board of Directors of Monro Inc., as Interim Chief Executive Officer.
Rob Mellor is about 26 years older than Brett Ponton.
Brett Ponton’s departure from the CEO post is explained as follows. Monro said: “Brett Ponton has resigned as President and Chief Executive Officer of the Company, effective August 19, 2020, in order to pursue another opportunity. Ponton also resigned as a member of the Board of Directors of the Company, effective immediately.”
Ponton will be CEO at ServiceMaster
ServiceMaster Global Holdings, Inc. announced that Brett T. Ponton will become its new Chief Executive Officer, on or before October 1, 2020.
ServiceMaster announced the move on Thursday, August 6, 2020.
ServiceMaster is a provider of services to residential and commercial customers in the termite, pest control, cleaning and restoration markets.
Monro said: “On August 1, 2020, Brett T. Ponton resigned as President and Chief Executive Officer of Monro, Inc. (the “Company”), effective as of August 19, 2020. In connection therewith, Mr. Ponton also tendered his resignation as a member of the Board of Directors of the Company (the “Board”), effective as of August 5, 2020.”
Share price decline
The announcement follows a decline in Monro Inc.’s share price of 28% since August 2019.
In the position of CEO since 2017
Brett Ponton became CEO of the Company in 2017.
Brett T. Ponton was appointed to serve as President in August 2017 and Chief Executive Officer in October 2017.
Prior to joining the Company, Ponton served as president and chief executive officer of American Driveline Systems, Inc. (the parent company of AAMCO Transmissions Inc., Cottman Transmission Systems, LLC and Global Powertrain Systems, Inc.) from September 2013 until July 2017.
He also served as president and chief executive officer of Heartland Automotive Services, Inc., the largest operator of Jiffy Lube stores in North America, from 2009 until September 2013.
Ponton also previously served in a variety of roles during an 18-year tenure at The Goodyear Tire & Rubber Company, beginning in 1991.
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 Monro and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 32.2020 ($).