- Push-out Score determined
- After around 11 years in the position
- Accolades, praise and thanks for VanOort
- Mark Mallon taking over
- VanOort will remain as executive chairman at NeoGenomics
- VanOort spoke at length and said 147 words
(exechange) — Fort Myers, Florida, February 24, 2021 — Doug VanOort, chief executive of NeoGenomics, leaves his position. As announced by NeoGenomics Inc. in a news release on Wednesday, February 24, 2021, Douglas M. (Doug) VanOort leaves his post as chief executive officer at the provider of oncology testing and contract research services after around 11 years in the role, effective April 19, 2021.
Doug VanOort’s duties as CEO will be taken over by Mark Mallon, most recently Chief Executive Officer of Ironwood Pharmaceuticals.
The fact that Doug VanOort’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
“Part of a deliberate succession planning process”
Doug VanOort’s departure from the CEO post is explained as follows. NeoGenomics said: “Today’s leadership announcement is part of a deliberate succession planning process.”
VanOort will remain as executive chairman at NeoGenomics
“Douglas M. VanOort, its Chairman and CEO, will retire as CEO and transition to become executive chairman of the Board of Directors on April 19, 2021,” NeoGenomics said.
Share price increase since October 2009
The announcement follows an increase in NeoGenomics Inc.’s share price of 2928% since October 2009. October 2009 is the month in which VanOort’s tenure as CEO began.
In the position of CEO since 2009
Doug VanOort became CEO of the Company in 2009.
VanOort has served as the Chairman of the Board of Directors and Chief Executive Officer of the Company since October 28, 2009.
For seven months prior to October 2009, he served as Chairman of the Board of Directors, Executive Chairman and Interim Chief Executive Officer.
Prior to joining the Company, VanOort was a General Partner with a private equity firm, and a Founding Managing Partner of a venture capital firm.
From 1982 through 1999, VanOort served in various positions at Corning Incorporated (“Corning”) and at its spin-off company, Quest Diagnostics, Inc. (“Quest Diagnostics”).
During the period from 1995 through 1999, he served as the Senior Vice President Operations for Quest Diagnostics which was then a $1.5 billion newly formed NYSE-traded Company.
During the period of 1989 to 1995, he held senior executive positions at Corning Life Sciences, Inc., including Executive Vice President.
Corning Life Sciences Inc. had revenues of approximately $2 billion and was spun-off in a public transaction to create both Quest Diagnostics and Covance, Inc.
From 1982 to 1989, VanOort served in various executive positions at Corning, including Director of Mergers & Acquisitions.
VanOort currently serves as the Chair of the American Clinical Laboratory Association where he previously served as a member of the Board. VanOort is a graduate of Bentley University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Doug VanOort’s move on a scale of 0 to 10.
exechange reached out to NeoGenomics and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 9.2021 ($).