- Push-out Score determined
- After almost nine years in the position
- Accolades, praise and thanks for Stephenson
- Lee Shavel taking over
- Stephenson spoke at length and said 171 words
(exechange) — Jersey City, New Jersey, February 18, 2022 — Scott Stephenson, chief executive of Verisk, leaves. As announced by Verisk Analytics Inc. in a news release on Friday, February 18, 2022, Scott G. Stephenson, chief executive officer, leaves the data analytics provider, after almost nine years in the role, effective following Verisk’s 2022 Annual Shareholder Meeting.
Scott Stephenson’s duties as CEO will be taken over by Lee M. Shavel, currently Chief Financial Officer at Verisk Analytics Inc.
Shavel’s replacement as CFO will be named at a later date.
“Culmination of a thorough succession planning process”
Scott Stephenson’s departure from the CEO post is explained as follows. Verisk said: “The naming of Shavel as the next CEO is the culmination of a thorough succession planning process undertaken by the Verisk Board, that included the evaluation of internal and external candidates.”
Precise information regarding Scott Stephenson’s future plans was not immediately available.
Verisk said: “Scott G. Stephenson, Chairman, President and CEO of Verisk, will be retiring from the company following Verisk’s 2022 Annual Shareholder Meeting.”
Share price increase since April 2013
The announcement follows an increase in Verisk Analytics Inc.’s share price of 211% since April 2013. April 2013 is the month in which Stephenson’s tenure as CEO began.
In the position of CEO since 2013
Scott Stephenson became CEO of the Company in 2013.
In connection with his retirement from the company, Stephenson will step down from the Verisk Board of Directors following the 2022 Annual Meeting.
The roles of chair of the board of directors and CEO will be separated effective following the 2022 annual meeting.
Scott G. Stephenson has been the Company’s Chief Executive Officer since April 2013 and has been the Company’s President since March 2011.
Stephenson has also served on the Company’s Board of Directors since April 2013 and effective April 2016, Stephenson was appointed as the Chairman of the Company’s Board.
Stephenson also previously served as the Company’s Chief Operating Officer and prior to that led the Company’s Decision Analytics segment.
From 2002 to 2008, Stephenson served as the Company’s Executive Vice President, and he served as President of the Company’s Intego Solutions business from 2001 to 2002.
Stephenson joined the Company from Silver Lake Partners, a technology-oriented private equity firm, where he was an advisor from 2000 to 2001.
From 1989 to 1999 Stephenson was a partner with The Boston Consulting Group, eventually rising to senior partner and member of the firm’s North American operating committee.
Since February 2020, Stephenson has served on the Board of Directors of Public Service Enterprise Group Inc. (NYSE: PEG), the publicly-traded parent company of New Jersey-based gas and electric utility company, Public Service Electric and Gas Co. (PSE&G).
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Scott Stephenson’s move on a scale of 0 to 10.
exechange reached out to Verisk and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 8.2022 ($).