- Push-out Score determined
- After about three years in the position
- Praise and thanks for Hassinger
- Randy Wood taking over
- Hassinger kept it short and said 52 words
(exechange) — Omaha, Nebraska, November 10, 2020 — This news came the day before Veterans Day. Tim Hassinger, chief executive of Lindsay, leaves. As announced by Lindsay Corp. in a news release on Tuesday, November 10, 2020, Timothy L. (Tim) Hassinger leaves his post as chief executive officer of the manufacturer of irrigation and infrastructure equipment after about three years in the role, effective December 31, 2020.
Tim Hassinger’s duties as CEO will be taken over by Randy A. Wood, currently Chief Operating Officer of Lindsay Corp.
No reason given
In the announcement, Lindsay did not explicitly explain the reason for Tim Hassinger’s move, leaving room for speculation.
Precise information regarding Tim Hassinger’s future plans was not immediately available.
“Retirement”
Lindsay said: “Lindsay Corporation … today announced the retirement of Tim Hassinger from his position as President and Chief Executive Officer and as a member of the Board of Directors, effective December 31, 2020.”
Share price increase since November 2015
The announcement follows an increase in Lindsay Corp.’s share price of 65% since November 2015.
Chaired by Michael Nahl
Michael Nahl serves as Lindsay Corp.’s Chairman.
Michael C. Nahl is the retired Executive Vice President and Chief Financial Officer of Albany International Corp., the world’s largest manufacturer of custom-designed engineered fabrics called paper machine clothing.
In the position of CEO since 2017
Tim Hassinger became CEO of the Company in 2017.
Tim Hassinger (current term to expire at the Fiscal 2021 Annual Meeting) is the President and Chief Executive Officer of the Company, a position he has held since October 2017.
Hassinger has also been a director of the Company since October 2017 and he is the only executive officer of the Company serving on the Board of Directors.
Prior to joining the Company and since May 2014, Hassinger served as President and Chief Executive Officer of Dow AgroSciences, an Indianapolis-based subsidiary of The Dow Chemical Company.
During his 33-year career at Dow AgroSciences, Hassinger held a series of senior leadership positions across a variety of domestic and international business units.
Prior to becoming President and Chief Executive Officer of Dow AgroSciences in May 2014, he served as its Global Commercial Leader from February 2013 to April 2014 and as Vice President for its Crop Protection Global Business Unit from August 2009 to April 2014.
Previously, he served as Vice President for the Dow AgroSciences business in the Europe, Latin America, and Pacific regions from 2007 to 2009.
In 2005, he moved to Shanghai, where he served as Regional Commercial Unit Leader for Greater China.
Hassinger currently serves as a member of the Board of Directors of AGDATA.
Hassinger received his Bachelor of Science degree in Agricultural Economics from the University of Illinois.
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 Lindsay and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 46.2020 ($).