- Push-out Score determined
- After about three years in the position
- Praise and thanks for Shafer
- Search for a successor
- Shafer said 121 words
(exechange) — Kansas City, Missouri, May 5, 2021 — Brent Shafer, chief executive of Cerner, leaves his position. As announced by Cerner Corp. in a news release and in a regulatory filing published on Wednesday, May 5, 2021, D.Brent Shafer leaves his post as chief executive officer at the supplier of health information technology after about three years in the role, effective on the earlier of the date the CEO successor starts with Cerner and December 31, 2021.
In order to provide a smooth and orderly transition, Shafer plans to serve as chairman and CEO until the Board has identified and appointed a successor, after which he will serve as a senior advisor for one year.
Cerner will undertake a search for a successor.
“Renewed sense of urgency”
Cerner did not give an explicit reason for Brent Shafer’s departure from the CEO post, leaving room for speculation. Shafer said: “We are sharpening our focus and moving forward with a renewed sense of urgency in delivering value to our clients and shareholders.”
Precise information regarding Brent Shafer’s future plans was not immediately available.
Cerner said: “Brent Shafer and the Board have initiated a process to identify the company’s next CEO.”
Cerner further said: “On April 30, 2021, Cerner and D. Brent Shafer, Cerner’s Chief Executive Officer (“CEO”) and Chairman of the Board of Directors (the “Board”), mutually agreed to terms pursuant to which Mr. Shafer will separate and transition from Cerner.”
“Not the result of any dispute or disagreement”
“Mr. Shafer’s departure is not the result of any dispute or disagreement with Cerner, its Board, or its management, or any matter relating to Cerner’s operations, policies or practices,” Cerner said.
Share price decline since January 2021
The announcement follows a decline in Cerner Corp.’s share price of 3% since January 2021.
In the position of CEO since 2018
Brent Shafer became CEO of the Company in 2018.
Shafer joined the Company as Chairman of the Board and Chief Executive Officer in February 2018.
Prior to joining the Company, he served as Chief Executive Officer of Philips North America, a health technology company and the North American division of Koninklijke Philips N.V. (“Philips”) (NYSE: PHG), since February 2014.
In that position, Shafer led an organization of 17,000 employees and oversaw a health technology portfolio that included a broad range of solutions and services covering patient monitoring, imaging, clinical informatics, sleep and respiratory care as well as a group of market-leading consumer-oriented brands.
For 12 years, Shafer played a key role in helping Philips develop and strengthen its healthcare focus, increase its profitability and grow its market share.
Prior to that position, Shafer served as Chief Executive Officer of the global Philips’ Home Healthcare Solutions business, a home healthcare services provider with 6,000 employees, from May 2010 until May 2014, as Chief Executive Officer of the North America region for Royal Philips Electronics from January 2009 until May 2010, and as President and Chief Executive Officer of the Healthcare Sales and Service business for Philips North America from May 2005 until May 2010.
Prior to joining Philips, Shafer served in various senior leadership positions with other companies, including Hill-Rom (NYSE: HRC), GE Medical Systems (NYSE: GE) and Hewlett-Packard (NYSE: HPE).
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Brent Shafer’s move on a scale of 0 to 10.
exechange reached out to Cerner and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 19.2021 ($).