- Push-out Score determined
- After around 16 years in the position
- Accolades and praise for Stepan
- Scott Behrens taking over
- Stepan will remain as Chairman at Stepan Co.
- Stepan spoke at length and said 166 words
(exechange) — Northbrook, Illinois, February 17, 2022 — Quinn Stepan, chief executive of Stepan Co., leaves his position. As announced by Stepan Co. in a news release and in a regulatory filing published on Thursday, February 17, 2022, F.Quinn Stepan leaves his post as chief executive officer at the manufacturer of specialty chemicals, after around 16 years in the role, effective April 25, 2022.
It is the end of an era.
Quinn Stepan’s duties as CEO will be taken over by Scott R. Behrens, currently President and Chief Operating Officer at Stepan Co.
“Now is the right time for a transition that the Board and I have planned”
Quinn Stepan’s departure from the CEO post is explained as follows. Stepan said: “We are well positioned to execute on our strategy and now is the right time for a transition that the Board and I have planned.”
Stepan will remain as Chairman at Stepan Co.
“Mr. Stepan will continue to serve as non-executive Chairman of the Board assuring an effective transition,” Stepan Co. said.
“Retire”
Stepan Co. said: “F.Quinn Stepan, Jr. will retire as Chief Executive Officer of the Company on April 25, 2022.”
Stepan Co. further said: “F.Quinn Stepan, Jr. had notified the Company that he will retire as Chief Executive Officer of the Company on April 25, 2022.”
Share price increase since February 2017
The announcement follows an increase in Stepan Co.’s share price of 42% since February 2017.
In the position of CEO since 2006
Quinn Stepan became CEO of the Company in 2006.
Stepan has served as Chairman of the Company since January 2017.
Stepan has served as Chief Executive Officer of the Company since January 2006.
Stepan has served as President of the Company from January 2006 through December 2020.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Quinn Stepan’s move on a scale of 0 to 10.
exechange reached out to Stepan Co. and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 8.2022 ($).