- Push-out Score determined
- After about a year and a half in the position
- Praise and thanks for Dillon
- Eric Tapia taking over temporarily
- Search for a successor
(exechange) — San Diego, California, June 21, 2022 — This news came shortly after Juneteenth. Pat Dillon, finance chief of TuSimple, leaves. As announced by TuSimple Holdings Inc. in a news release and in a regulatory filing published on Tuesday, June 21, 2022, Patrick (Pat) Dillon leaves his post as chief financial officer at the autonomous driving technology company, after about a year and a half in the role, effective July 7, 2022.
TuSimple will undertake a search for a successor.
Pat Dillon’s duties as CFO will be taken over temporarily by Eric Tapia, currently Global Controller and principal accounting officer at TuSimple Holdings Inc., as interim Chief Financial Officer.
Pat Dillon’s move coincides with a management shake-up also involving the positions of Executive Vice President of Operations; and Executive Vice President of Technology.
“To pursue other opportunities”
The management change is explained as follows. TuSimple said: “Chief Financial Officer Patrick Dillon will leave the company to pursue other opportunities.”
Precise information regarding Pat Dillon’s future plans was not immediately available.
“Departure/resignation”
TuSimple said: “Today, TuSimple (Nasdaq: TSP) co-founder and CEO Xiaodi Hou announced the addition of two key leadership positions and the departure of its CFO as the company continues transitioning from testing to scaling and, ultimately, wide deployment of autonomous trucking technology across the U.S.”
TuSimple further said: “On June 21, 2022, TuSimple Holdings Inc. (the “Company”) announced Patrick Dillon’s resignation on June 15, 2022 from his role as Chief Financial Officer of the Company, effective July 7, 2022 (the “Termination Date”). Mr. Dillon is leaving to pursue other opportunities.”
Share price decline since June 2021
The announcement follows a decline in TuSimple Holdings Inc.’s share price of 82% since June 2021.
In the position of CFO since 2020
Pat Dillon became CFO of the Company in 2020.
Patrick Dillon has served as the Company’s Chief Financial Officer since December 2020.
Dillon has more than 13 years of experience working in finance, investment banking and public accounting.
Prior to joining the Company, from August 2011 to December 2020, Dillon was a member of the investment banking division of Morgan Stanley, co-leading its coverage of vehicle technology companies.
During his tenure at Morgan Stanley working in both the New York and Chicago offices, Dillon advised clients on capital raising, mergers and acquisitions and other strategic transactions.
Prior to his work at Morgan Stanley, Dillon was a member of Deloitte’s tax consulting practice in Chicago from 2005 to 2009.
Dillon holds a Bachelor of Business Administration and M.S. in accountancy from the University of Notre Dame Mendoza College of Business and an M.B.A. from the University of Chicago Booth School of Business.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Pat Dillon’s move on a scale of 0 to 10.
exechange reached out to TuSimple and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 26.2022 ($).