- Push-out Score determined
- After almost eight years in the position
- Accolades, praise, thanks and good wishes for Keane
- Sara Armbruster taking over
- Keane said 115 words
(exechange) — Grand Rapids, Michigan, April 19, 2021 — Jim Keane, chief executive of Steelcase, leaves his position. As announced by Steelcase Inc. in a news release and in a regulatory filing published on Monday, April 19, 2021, James P. (Jim) Keane leaves his post as chief executive officer at the furniture maker after almost eight years in the role, effective October 4, 2021.
Keane leaves the company effective January 7, 2022.
Jim Keane’s duties as CEO will be taken over by Sara E. Armbruster, currently Executive Vice President at Steelcase Inc.
“The right time for me to move forward”
Jim Keane’s departure from the CEO post is explained as follows. Keane said: “[A]fter 25 years, it’s the right time for me to move forward, and with the crisis ending, the recovery taking shape, and a number of innovative new products ready to go, it will be the perfect time for the company to welcome a new CEO.”
Precise information regarding Jim Keane’s future plans was not immediately available.
Steelcase said: “President and CEO Jim Keane, announces he will be retiring on January 7, 2022, after 25 years with the company, including more than seven years as CEO. Keane will remain President and CEO until October 4, 2021, at which time he will become vice chair and will serve in that role until his retirement from the company.”
Steelcase further said: “On April 19, 2021, Steelcase Inc. (the “Company”) announced the intention of James P. Keane to retire from his position as President and Chief Executive Officer of the Company, effective October 4, 2021.”
Share price decline since April 2016
The announcement follows a decline in Steelcase Inc.’s share price of 2% since April 2016.
Chaired by Rob Pew
Rob Pew serves as Steelcase Inc.’s Chairman.
In the position of CEO since 2014
Jim Keane became CEO of the Company in 2014.
From October 4, 2021, Keane will continue as an employee of the Company, serving as Vice Chair, an executive officer role which will report to the Board Chair, until his retirement from the Company effective January 7, 2022.
Keane has been President and Chief Executive Officer of Steelcase Inc. since 2014.
He served as the Company’s President and Chief Operating Officer from 2013 to 2014.
Keane joined Steelcase in 1997.
Keane is a director of Rockwell Automation, Inc.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Jim Keane’s move on a scale of 0 to 10.
exechange reached out to Steelcase and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 17.2021 ($).