- Push-out Score determined
- After almost 10 years in the position
- Praise, thanks, words of regret and good wishes for Edwards
- Chuck Treadway taking over
- Edwards said 84 words
(exechange) — Hickory, North Carolina, October 1, 2020 — Eddie Edwards, chief executive of CommScope, leaves. As announced by CommScope Holding Co. in a news release and in a regulatory filing published on Thursday, October 1, 2020, Marvin S. (Eddie) Edwards leaves his post as chief executive officer at the network infrastructure provider after almost 10 years in the role, effective immediately.
Eddie Edwards’s duties as CEO will be taken over by Charles (Chuck) Treadway, a former Chief Executive Officer of Accudyne Industries.
The fact that Eddie Edwards’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.
“Succession planning program”
Eddie Edwards’s departure from the CEO post is explained as follows. CommScope said: “This leadership transition is the result of the Company’s ongoing succession planning program led by the Board of Directors.”
Precise information regarding Eddie Edwards’s future plans was not immediately available.
CommScope said: “Eddie Edwards, President and Chief Executive Officer, is stepping down today after 15 years of service to the Company.”
CommScope further said: “On October 1, 2020, CommScope Holding Company, Inc. (the “Company”) announced that the Board of Directors of the Company met and appointed Charles “Chuck” Treadway as the new President and Chief Executive Officer of the Company and as a member of the Company’s Board of Directors, effective October 1, 2020, replacing Marvin S. Edwards, Jr. The Company’s leadership transition is the result of the Board of Directors’ ongoing succession planning efforts.”
Share price decline
The announcement follows a decline in CommScope Holding Co.’s share price of 73% since September 2017.
In the position of CEO since 2011
Eddie Edwards became CEO of the Company in 2011.
His bio reads as follows.
- President and CEO of CommScope (2011-present)
- President and COO of CommScope (2010-2011)
- EVP of Business Development and General Manager, CommScope Wireless Network Solutions of CommScope (2007-2010)
- EVP of Business Development of CommScope (2005-2007)
- President and CEO of OFS Fitel, LLC and OFS BrightWave, LLC, a joint venture between CommScope and The Furukawa Electric Co.
- Various capacities with Alcatel including President of Alcatel North America Cable Systems and President of Radio Frequency Systems
Other Current Public Company Directorships
- OFS Fitel, LLC (2001-2004)
- OFS BrightWave, LLC (2001-2004)
Skills and Qualifications:
- Industry Experience
- Leadership / Management
- Merger and Integration Experience
- Strategic Planning.
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 CommScope and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 40.2020 ($).