- Push-out Score determined
- After almost 17 years in the position
- Praise, thanks and good wishes for Gendron
- Chip Blankenship taking over
- Gendron said 81 words
(exechange) — Fort Collins, Colorado, April 21, 2022 — Tom Gendron, chief executive of Woodward, leaves. As announced by Woodward Inc. in a news release and in a regulatory filing published on Thursday, April 21, 2022, Thomas A. (Tom) Gendron leaves his post as chief executive officer at the manufacturer of control products for the aerospace and industrial markets, after almost 17 years in the role, effective May 9, 2022.
It is the end of an era.
Tom Gendron’s duties as CEO will be taken over by Charles (Chip) Blankenship, a former Chief Executive Officer at Arconic.
The fact that Tom Gendron’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
“Longstanding succession planning process”
Tom Gendron’s departure from the CEO post is explained as follows. John Cohn, Woodward’s Lead Director, said: “In line with the Board’s longstanding succession planning process, the Board identified Chip as the right choice for the Company’s future. Today’s announcement is the result of what was an ongoing, deliberate and extensive evaluation to choose the Company’s next CEO.”
Precise information regarding Tom Gendron’s future plans was not immediately available.
“Retire”
Woodward said: “[A]fter more than 31 years with the Company and 17 years as Chief Executive Officer, Thomas (“Tom”) A. Gendron has expressed his intention to retire from the Company. He will retire from his role as Chairman of the Board, Chief Executive Officer and President effective May 9, 2022.”
Woodward further said: “On April 16, 2022, Thomas A. Gendron, Chairman, Chief Executive Officer and President of Woodward, Inc. (“Woodward”, or the “Company”), notified the Board of Directors of the Company (the “Board”) that he intends to retire from his role as Chairman of the Board, Chief Executive Officer and President effective May 9, 2022.”
Share price increase since April 2017
The announcement follows an increase in Woodward Inc.’s share price of 81% since April 2017.
In the position of CEO since 2005
Tom Gendron became CEO of the Company in 2005.
Thomas A. Gendron has been Chairman of the Board of the Company since January 2008, and has been President and Chief Executive Officer of the Company since July 2005.
Gendron previously served as Chief Operating Officer and President of the Company from September 2002 until July 2005, and as Vice President and General Manager of Industrial Controls from June 2001 until September 2002.
Prior to that, Gendron served as Vice President of Industrial Controls from April 2000 through May 2001, and as Director of Global Marketing and Industrial Controls’ Business Development from February 1999 through March 2000.
Overall, Gendron has served with Woodward for over 25 years in both the aircraft and industrial businesses, providing leadership in sales, marketing, business development, and product support management.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Tom Gendron’s move on a scale of 0 to 10.
exechange reached out to Woodward and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 17.2022 ($).