- After 24 years in the position
- Dennis McKenna taking over
- Ruhlman will remain as Executive Chairman at Preformed Line
- Ruhlman said 65 words
(exechange) — Cleveland, Ohio, November 22, 2023 — This news came shortly before Thanksgiving Day. Rob Ruhlman, chief executive of Preformed Line, leaves his position. As announced by Preformed Line Products Co. in a news release and in a regulatory filing published on Wednesday, November 22, 2023, Robert G. (Rob) Ruhlman leaves his post as chief executive officer at the supplier of cable anchoring and control hardware, after 24 years in the role, effective January 1, 2024.
It is the end of an era.
Generally speaking, it raises questions when a CEO leaves his post at short notice.
Rob Ruhlman’s duties as CEO will be taken over by Dennis F. McKenna, currently Chief Operating Officer at Preformed Line Products Co.
No reason given
In the announcement, Preformed Line did not explicitly explain the reason for the move.
Ruhlman will remain as Executive Chairman at Preformed Line
Preformed Line stated: “Mr. McKenna assumes the role from Robert G. Ruhlman, who has served as CEO since 2000 and who will become Executive Chairman of the company.”
“Will no longer serve in the capacity of CEO”
Preformed Line said: “Robert G. Ruhlman, the Company’s current Chairman of the Board and Chief Executive Officer, has been appointed as Executive Chairman of the Company and will no longer serve in the capacity of Chief Executive Officer, effective January 1, 2024.”
Share price increase since November 2018
The announcement follows an increase in Preformed Line Products Co.’s share price of 108% since November 2018.
In the position of CEO since 2000
Rob Ruhlman became CEO of the Company in 2000.
Ruhlman started with the Company over 40 years ago as an Associate Engineer.
Over his years of service with the Company, he has held various positions including Manufacturing Administrator (1985), New Venture Coordinator (1987), Vice President of Corporate Planning (1988), President (1995), Chief Operating Officer (1995) and, most recently, Chief Executive Officer (2000).
He was appointed as Chairman of the Board in 2004.
Ruhlman is the father of J. Ryan Ruhlman, a director and employee of the Company, and Maegan A. R. Cross, a director of the Company.
65 words by Rob Ruhlman
In announcing his departure, Rob Ruhlman said 65 words.
“Risen through the ranks”
Rob Ruhlman stated: “PLP’s Board of Directors couldn’t be more pleased with the appointment of Dennis as PLP’s 4th CEO in the company’s 76-year history. I am especially proud and fortunate that someone like Dennis, who has spent thirty years with the company, has risen through the ranks to become our next Chief Executive Officer – an incredible validation of the emphasis we place on employee retention and development.”
Push-out Score for Rob Ruhlman’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that Rob Ruhlman was pushed out or felt pressure to leave his position.
exechange reached out to Preformed Line and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 48.2023 ($).