- Push-out Score determined
- After almost eight years in the position
- Praise and thanks for Nord
- Gerben Bakker taking over
- Nord said 96 words
(exechange) — Shelton, Connecticut, September 9, 2020 — Dave Nord, chief executive of Hubbell, leaves. As announced by Hubbell Inc. in a news release on Wednesday, September 9, 2020, David G. (Dave) Nord leaves his post as chief executive officer at the provider of electrical and electronic products after almost eight years in the role, effective October 1, 2020.
Dave Nord’s duties as CEO will be taken over by Gerben W. Bakker, currently President and Chief Operating Officer of Hubbell Inc.
“Executive succession planning process”
Dave Nord’s departure from the CEO post is explained as follows. Hubbell said: “These leadership changes are the product of the Board’s executive succession planning process and its transition planning with both Mr. Nord and Mr. Bakker.”
Precise information regarding Dave Nord’s future plans was not immediately available.
Hubbell said: “David G. Nord has announced his retirement as Chief Executive Officer of Hubbell Incorporated effective October 1, 2020.”
Share price increase since September 2019
The announcement follows an increase in Hubbell Inc.’s share price of 11% since September 2019.
In the position of CEO since 2013
Dave Nord became CEO of the Company in 2013.
Nord will continue to serve as Hubbell’s Executive Chairman of the Board until the Company’s 2021 annual meeting in May to provide his continuing guidance and expertise, as well as to ensure a smooth transition.
Nord has served as Chairman and Chief Executive Officer of the Company since June 2019 and Chairman, President and Chief Executive Officer since May 2014.
Previously, he served as the Company’s President and Chief Executive Officer from January 2013 to May 2014, President and Chief Operating Officer from June 2012 to January 2013 and Senior Vice President and Chief Financial Officer from September 2005 to June 2012.
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 Hubbell and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 37.2020 ($).