- Push-out Score determined
- After almost 18 years in the position
- Accolades, praise and thanks for Farmer
- Todd Schneider taking over
- Farmer will remain as Executive Chairman at Cintas
- Farmer spoke at length and said 186 words
(exechange) — Cincinnati, Ohio, April 1, 2021 — Scott Farmer, chief executive of Cintas, leaves his position. As announced by Cintas Corp. in a news release on Thursday, April 1, 2021, Scott D. Farmer leaves his post as chief executive officer at the maker of corporate identity uniform programs after almost 18 years in the role, effective May 31, 2021.
It is the end of an era.
Scott Farmer’s duties as CEO will be taken over by Todd M. Schneider, currently Chief Operating Officer of Cintas Corp.
“The appropriate time”
Scott Farmer’s departure from the CEO post is explained as follows. Farmer said: “Our company is in a position of financial strength, with a strong and experienced leadership team executing a proven strategy that has allowed our continued success even through the recent pandemic, making this the appropriate time for an orderly transition.”
Farmer will remain as Executive Chairman at Cintas
“Mr. Farmer will remain Executive Chairman, a role he has held since 2016,” Cintas said.
Cintas said: “Scott D. Farmer, Cintas Chairman & Chief Executive Officer, will retire as CEO on May 31, 2021.”
Share price increase since April 2016
The announcement follows an increase in Cintas Corp.’s share price of 279% since April 2016.
In the position of CEO since 2003
Scott Farmer became CEO of the Company in 2003.
Scott D. Farmer joined Cintas in 1981.
He has held the positions of Vice President – National Account Division, Vice President – Marketing and Merchandising, Rental Division Group Vice President and Chief Operating Officer.
In 1994, he was elected to the Board.
He was elected Chief Executive Officer in July 2003.
Farmer was appointed Chairman of the Board in September 2016.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Scott Farmer’s move on a scale of 0 to 10.
exechange reached out to Cintas and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 14.2021 ($).