- Push-out Score determined
- After less than three years in the position
- Accolades and praise for Davis
- James Rhyu taking over
- Davis will remain as Executive Chairman at Stride
- Davis said 102 words
(exechange) — Herndon, Virginia, January 26, 2021 — Nate Davis, chief executive of Stride, leaves his position. As announced by Stride Inc. (formerly K12 Inc.) in a news release and in a regulatory filing published on Tuesday, January 26, 2021, Nathaniel A. (Nate) Davis leaves his post as chief executive officer of the provider of tech-enabled education products after less than three years in the role, effective immediately.
Nate Davis’s duties as CEO will be taken over by James J. Rhyu, most recently President of Corporate Strategy, Marketing, and Technology of Stride Inc.
“Smooth transition”
Nate Davis’s departure from the CEO post is explained as follows. Stride said: “The Board of Directors has focused on a smooth transition in leadership as Mr. Davis and Mr. Rhyu have worked together to build Stride into the education leader it is today.”
Davis will remain as Executive Chairman at Stride
Davis will remain active in the business as the Executive Chairman of Stride’s Board of Directors, Stride said.
“Retiring/resign”
Stride said: “Nathaniel (Nate) A. Davis is retiring from his role as Chief Executive Officer.”
Stride further said: “On January 20, 2021, Nathaniel A. Davis, Chairman of the Board of Directors and Chief Executive Officer of the Company, notified the Company’s Board of Directors (the “Board”) that he will resign from his position as Chief Executive Officer, effective January 26, 2021.”
Share price decline since August 2020
The announcement follows a decline in Stride Inc.’s share price of 46% since August 2020.
In the position of CEO since 2018
Nate Davis became CEO of the Company in 2018.
Davis joined the Company as a director in July 2009 and has served as the Company’s Chairman since June 2012.
In January 2013, he became the Company’s Executive Chairman, and in January 2014, Davis was appointed to be the Company’s CEO, serving in that role through February 2016 and again beginning in March 2018.
Prior to joining the Company, he served as the managing director of RANND Advisory Group from 2003 until December 2012.
Previously, Davis worked for XM Satellite Radio from June 2006 to November 2008, serving as President and then Chief Executive Officer until the company’s merger with Sirius Radio.
He also served on the XM Satellite Radio board from 1999 through 2008. From 2000 to 2003, Davis was President and Chief Operating Officer and a board member of XO Communications Inc. Davis has also held senior executive positions at Nextel Communications (EVP, Network and Technical Service), MCI Telecommunications (Chief Financial Officer) and MCI Metro (President and Chief Operating Officer).
Since 2011, Davis has served as a director of Unisys Corporation and RLJ Lodging Trust.
Davis has also previously served on the board of several public and private firms including Mutual of America Capital Management Corporation, Charter Communications and Telica, Inc.
Davis holds an M.B.A. from the Wharton School of the University of Pennsylvania, an M.S. in Engineering Computer Science at the Moore School of the University of Pennsylvania, and a B.S. in Engineering from Stevens Institute of Technology.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Nate Davis’s move on a scale of 0 to 10.
exechange reached out to Stride and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 5.2021 ($).