- Push-out Score determined
- After almost 22 years in the position
- Praise and thanks for Whitman
- Paul Walker taking over
- Whitman will remain as Executive Chairman at Franklin Covey
(exechange) — Salt Lake City, Utah, July 1, 2021 — Bob Whitman, chief executive of Franklin Covey, leaves his position. As announced by Franklin Covey Co. in a regulatory filing published on Thursday, July 1, 2021, Robert A. (Bob) Whitman leaves his post as chief executive officer at the provider of leadership and business execution training services after almost 22 years in the role, effective September 1, 2021.
It is the end of an era.
Bob Whitman’s duties as CEO will be taken over by Paul S. Walker, currently President and Chief Operating Officer at Franklin Covey Co.
It is a generational change as well. Paul Walker is about 22 years younger than Bob Whitman.
No reason given
In the announcement, Franklin Covey did not explicitly explain the reason for the move.
Whitman will remain as Executive Chairman at Franklin Covey
“Effective September 1, 2021, Robert A. Whitman, the Company’s current Chairman and Chief Executive Officer (CEO) will continue to serve as Chairman of the Board, and transition his executive role to Executive Chairman,” Franklin Covey said.
Share price increase since July 2016
The announcement follows an increase in Franklin Covey Co.’s share price of 133% since July 2016.
In the position of CEO since 2000
Bob Whitman became CEO of the Company in 2000.
Drawing on Whitman’s capabilities, broad experience, and extensive knowledge of the Company and its operations, his responsibilities as Executive Chairman will include:
- Advising the Company and the new CEO during the transition of the Chief Executive Officer;
- Focusing his efforts on corporate strategy, innovations, key financial matters, and capital transactions;
- Attending meetings with Company leadership, business partners, employees, and others as requested by the CEO or the Board;
- Assisting the Board with its oversight of the Company’s risks;
- Communicating with both internal and external stakeholders, as appropriate;
- Acting as a primary liaison between the Board and management; and
- Creating tight alignment between the Board and management as to the Company’s strategic direction, and supporting the execution of the Company’s strategy.
Whitman has served as the Chairman of the Board of Directors since June 1999 and as the Company’s Chief Executive Officer since January 2000.
Whitman previously served as a director of the Covey Leadership Center from 1994 to 1997.
Prior to joining the Company, Whitman served as President and Co‑Chief Executive Officer of The Hampstead Group LLC from 1992 to 2000 and is a founding partner at Whitman Peterson.
Whitman received his Bachelor of Arts Degree in Finance from the University of Utah and his MBA from the Harvard Business School.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Bob Whitman’s move on a scale of 0 to 10.
exechange reached out to Franklin Covey and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 27.2021 ($).