- After 17 years in the position
- Praise for Brisbin
- Mike Bieber taking over
- Brisbin will remain as Chairman of the Board at Willdan
(exechange) — Anaheim, California, December 12, 2023 — Tom Brisbin, chief executive of Willdan, leaves his position. As announced by Willdan Group Inc. in a news release and in a regulatory filing published on Tuesday, December 12, 2023, Thomas D. (Tom) Brisbin leaves his post as chief executive officer at the provider of services to utilities, after 17 years in the role, effective December 29, 2023.
It is the end of an era.
Generally speaking, it raises questions when a CEO leaves his post at short notice.
Tom Brisbin’s duties as CEO will be taken over by Michael A. (Mike) Bieber, currently President at Willdan Group Inc.
No reason given
In the announcement, Willdan did not explicitly explain the reason for the move.
Brisbin will remain as Chairman of the Board at Willdan
Willdan stated: “Tom will retain his role as Chairman of the Board and will act as the company’s part-time consultant to ensure a smooth transition after December 29, 2023.”
“Retire”
Willdan said: “[O]n December 8, 2023, Tom Brisbin, Willdan’s CEO, notified the Board of Directors (the “Board”) of his intention to retire from his position as CEO of the company effective December 29, 2023.”
Share price decline since December 2020
The announcement follows a decline in Willdan Group Inc.’s share price of 48% since December 2020.
In the position of CEO since 2007
Tom Brisbin became CEO of the Company in 2007.
His bio reads as follows:
- CEO and Director since 2007. Chairman since November 2016. President from April 2007 to November 2016
- Vice President and Consultant of AECOM Technology Corporation from 2004-2007
- Chief Operating Officer and Executive VP at Tetra Tech, Inc. from 1999-2004
- Co-founder and President of PRC Environmental Management, Inc. from 1978-1995
- Research Associate at Argonne National Laboratory and Adjunct Professor – Illinois Institute of Technology (IIT) prior to PRC.
No statement by Tom Brisbin
In the release announcing his departure as CEO of Willdan Group Inc., Tom Brisbin received praise.
The announcement of his departure as CEO does not include a statement by Tom Brisbin.
Push-out Score for Tom Brisbin’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that Tom Brisbin was pushed out or felt pressure to leave his position.
exechange reached out to Willdan and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 51.2023 ($).