- Push-out Score determined
- After 11 years in the position
- Praise and thanks for Colonias
- Mike Olosky taking over
- Colonias spoke at length and said 135 words
(exechange) — Pleasanton, California, September 8, 2022 — Karen Colonias, chief executive of Simpson, leaves. As announced by Simpson Manufacturing Co. in a news release and in a regulatory filing published on Thursday, September 8, 2022, Karen Colonias leaves her post as chief executive officer at the specialist in engineered structural connectors and building products, after 11 years in the role, effective December 31, 2022.
Karen Colonias’s duties as CEO will be taken over by Michael (Mike) Olosky, currently President and Chief Operating Officer at Simpson Manufacturing Co.
“Succession plan”
Karen Colonias’s departure from the CEO post is explained as follows. Simpson said: “Karen Colonias will step down from her position as Chief Executive Officer as part of Simpson’s succession plan, effective December 31, 2022.”
Precise information regarding Karen Colonias’s future plans was not immediately available.
“Retire/step down”
Simpson said: “Karen Colonias notified the Company that she will retire from the Company on June 30, 2023 and step down from her position as Chief Executive Officer, effective December 31, 2022.”
Share price increase since September 2017
The announcement follows an increase in Simpson Manufacturing Co.’s share price of 106% since September 2017.
In the position of CEO since 2012
Karen Colonias became CEO of the Company in 2012.
Colonias will continue in her role as CEO through the end of 2022, after which, as part of the succession plan, she will remain employed as an Executive Advisor to assist with the transition until her retirement on June 30, 2023.
Colonias will continue to serve as a member of Simpson’s board of directors until the Company’s 2023 annual meeting of stockholders.
Colonias has been the Company’s Chief Executive Officer since January 2012, the Company’s President from January 2012 through January 2022, and a member of the Board since her appointment in 2013.
From 2009 – 2012, she was the Company’s Chief Financial Officer, Secretary and Treasurer.
Prior to that, she held the position of Vice President of the Company’s global structural product solutions subsidiary, Simpson Strong-Tie Company Inc. and, in that capacity from 2004 to 2009, served as the Branch Manager of Simpson Strong-Tie’s manufacturing facility in Stockton, California.
She joined Simpson Strong-Tie in 1984 as an engineer in the research and development department, where she was responsible for the design and testing of new products and code development.
In 1998 she was promoted to Vice President of Engineering, responsible for Simpson Strong-Tie’s research and development efforts.
Before joining Simpson Strong-Tie, she worked as a civil engineer for the Bechtel Corporation, a global engineering, construction and project management company.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Karen Colonias’s move on a scale of 0 to 10.
exechange reached out to Simpson and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 37.2022 ($).