- Push-out Score determined
- After around eight years in the position
- Accolades, praise, thanks and good wishes for Raver
- Kim Ryan taking over
- Raver said 97 words
(exechange) — Batesville, Indiana, June 2, 2021 — Joe Raver, chief executive of Hillenbrand, leaves his post. His departure is made public at an early stage. As announced by Hillenbrand Inc. in a news release and in a regulatory filing published on Wednesday, June 2, 2021, Joe A. Raver leaves his post as chief executive officer at the diversified industrial company after around eight years in the role, effective December 31, 2021.
Joe Raver’s duties as CEO will be taken over by Kimberly K. (Kim) Ryan, most recently Senior Vice President and President of the Coperion business at Hillenbrand Inc.
“Culmination of a robust, multi-year leadership development and succession planning process”
Joe Raver’s departure from the CEO post is explained as follows. Hillenbrand said: “Ryan’s selection is the culmination of a robust, multi-year leadership development and succession planning process led by the Board with the help of an independent external management consultant.”
Precise information regarding Joe Raver’s future plans was not immediately available.
Hillenbrand said: “Joe A. Raver, President and Chief Executive Officer, plans to retire at the end of 2021.”
Hillenbrand further said: “On June 2, 2021, Hillenbrand, Inc. (the “Company”) announced the decision of Joe A. Raver to retire from the Company as its President and Chief Executive Officer and a member of the Board of Directors (the “Board”), effective December 31, 2021.”
Share price increase since September 2013
The announcement follows an increase in Hillenbrand Inc.’s share price of 87% since September 2013. September 2013 is the month in which Raver’s tenure as CEO began.
Chaired by Joe Loughrey
Joe Loughrey serves as Hillenbrand Inc.’s Chairperson.
Loughrey has been chairperson of the board since February 27, 2013.
He previously served as a director of the company since February 11, 2009. On April 1, 2009, he retired from Cummins Inc. after serving in a variety of roles for 35 years, most recently as vice chairman of the board of directors and as the company’s president and chief operating officer.
In the position of CEO since 2013
Joe Raver became CEO of the Company in 2013.
Raver has served as a director and as President and Chief Executive Officer of the Company since September 2013.
He has served as President of the Company’s Advanced Process Solutions (formerly Process Equipment Group) reportable segment since March 2011. Raver has been a director of Applied Industrial Technologies, Inc. (“AIT”), a leading industrial distributor serving MRO and OEM customers in virtually every industry since August 2017.
Raver currently serves on the Corporate Governance Committee and Executive Organization and Compensation Committee of AIT.
He previously served as President of Batesville Casket Company from 2008 – 2011.
He also previously served as Vice President and General Manager of the respiratory care division of Hill-Rom Holdings (“Hill-Rom”), a leading global provider of medical equipment and services and the Company’s former parent, as well as Hill‑Rom’s Vice President of Strategy and Shared Services.
Prior to that, Raver spent 10 years in a variety of leadership positions at Batesville Casket Company and Hill-Rom.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Joe Raver’s move on a scale of 0 to 10.
exechange reached out to Hillenbrand and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 23.2021 ($).