- Push-out Score determined
- After almost nine years in the position
- Thanks and good wishes for Buckhout
- Tony Najjar taking over temporarily
- Search for a successor
(exechange) — Burlington, Massachusetts, January 19, 2022 — Scott Buckhout, chief executive of Circor, leaves — as “mutually agreed.” As announced by Circor International Inc. in a news release and in a regulatory filing published on Wednesday, January 19, 2022, Scott Buckhout leaves his post as chief executive officer at the provider of flow control products, after almost nine years in the role, effective immediately.
Circor will undertake a search for a successor.
Scott Buckhout’s duties as CEO will be taken over temporarily by Tony Najjar, most recently Aerospace & Defense Group President at Circor International Inc., as interim President and Chief Executive Officer.
“Accelerate progress on our strategic priorities”
Circor did not give an explicit reason for Scott Buckhout’s departure from the CEO post. Chair Helmuth Ludwig said: “Today’s announcement reflects the Board’s commitment to unlock the potential of Circor and accelerate progress on our strategic priorities.”
Precise information regarding Scott Buckhout’s future plans was not immediately available.
“Step down”
Circor said: “[T]he Board of Directors and Scott Buckhout, President and Chief Executive Officer, have mutually agreed that Mr. Buckhout will step down as President and Chief Executive Officer, effective immediately.”
Circor further said: “On January 19, 2022, Scott Buckhout and the Company reached mutual agreement that Mr. Buckhout will step down from his position as President and Chief Executive Officer effective immediately.”
“Not the result of any disagreement”
“Mr. Buckhout’s decision to step down from his position was not the result of any disagreement with the Company on any matters relating to the Company’s operations, policies or practices, the Company’s management, or the Board,” Circor said.
Share price decline since January 2017
The announcement follows a decline in Circor International Inc.’s share price of 64% since January 2017.
In the position of CEO since 2013
Scott Buckhout became CEO of the Company in 2013.
Buckhout joined Circor as President and Chief Executive Officer and was appointed to the Board in April 2013.
Prior to joining Circor, Buckhout had served as President, Fire & Security at United Technologies Corporation (UTC), a diverse, multinational manufacturing company.
He previously held a number of senior level positions at UTC, including President, Global Fire Products and President, Systems and Firefighting.
Before joining UTC, Buckhout held a number of senior roles at Honeywell International Corporation in the Consumer Products and Friction Materials divisions.
He spent five years in Europe for UTC and Honeywell, including as Vice President and General Manager, Consumer Products Group, Honeywell EMEA and Vice President and General Manager, Honeywell Friction Materials – Europe.
He also previously worked in general management and strategy consulting roles at Booz Allen & Hamilton and The Boeing Company.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Scott Buckhout’s move on a scale of 0 to 10.
exechange reached out to Circor and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 4.2022 ($).