- Push-out Score determined
- After about six years in the position
- Praise and thanks for Glassman
- Mitch Dolloff taking over
- Glassman will remain as Executive Chairman at Leggett & Platt
- Glassman spoke at length and said 135 words
(exechange) — Carthage, Missouri, November 10, 2021 — Karl Glassman, chief executive of Leggett & Platt, leaves his position. As announced by Leggett & Platt Inc. in a news release published on Tuesday, November 9, 2021, and in a regulatory filing published on Wednesday, November 10, 2021, Karl G. Glassman leaves his post as chief executive officer at the manufacturer of engineered components, after about six years in the role, effective December 31, 2021.
Karl Glassman’s duties as CEO will be taken over by J.Mitchell (Mitch) Dolloff, currently Chief Operating Officer at Leggett & Platt Inc.
“Long-term succession planning”
Karl Glassman’s departure from the CEO post is explained as follows. Glassman said: “This represents the culmination of many years of close collaboration and is in keeping with our history of long-term succession planning.”
Glassman will remain as Executive Chairman at Leggett & Platt
“Karl Glassman will retire as the Company’s CEO effective December 31, 2021 and will become Executive Chairman of the Board of Directors,” Leggett & Platt said.
Leggett & Platt said: “On November 9, 2021, Karl G. Glassman notified the Company of his decision to retire as Chief Executive Officer, effective December 31, 2021.”
Share price increase since November 2018
The announcement follows an increase in Leggett & Platt Inc.’s share price of 18% since November 2018.
In the position of CEO since 2016
Karl Glassman became CEO of the Company in 2016.
Glassman was appointed Chairman of the Board effective January 1, 2020 and continues to serve as Chief Executive Officer since his appointment in 2016.
He previously served as President from 2013 to 2019, Chief Operating Officer from 2006 to 2015, Executive Vice President from 2002 to 2013, President of the former Residential Furnishings Segment from 1999 to 2006, Senior Vice President from 1999 to 2002, and in various capacities since 1982.
Glassman holds a degree in business management and finance from California State University—Long Beach.
Glassman previously served as a director of Remy International, Inc., a leading global manufacturer of alternators, starter motors and electric traction motors.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Karl Glassman’s move on a scale of 0 to 10.
exechange reached out to Leggett & Platt and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 46.2021 ($).