- Significant signs for push-out forces
- After around three years on the job
- Laud, praise, thanks and good wishes for White
- John Morici to take over
(management-change.com) — San Jose, California, November 07, 2016 — David White, finance chief of Align, leaves. It is a change at short notice. As announced by Align Technology, Inc. in a news release and in a regulatory filing published on Monday, November 07, 2016, David L. White leaves the post as Chief Financial Officer at the maker of clear, removable aligners after around three years on the job, effective November 10, 2016.
White leaves the company effective March 01, 2017.
White’s duties are taken over by John F. Morici, most recently executive vice president and managing director at NBC Universal.
The fact that White’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
No reason given
In the announcement, Align did not explicitly explain the reason for White’s imminent move, leaving room for speculation.
Align said: David L. White “will step down as CFO effective November 10 and stay with the Company through February 2017”.
Precise information about the future plans of White was not immediately available.
Share price rise since March 2014
The change follows a rise in the share price of Align Technology, Inc. since March 2014.
Chaired by C. Raymond Larkin, Jr.
Align Technology, Inc. is chaired by C. Raymond Larkin, Jr.
Larkin has served as a director of Align Technology since March 2004. In February 2006, Larkin was appointed as Chairman of the Board.
Joseph M. Hogan serves as CEO of Align Technology, Inc. Hogan joined Align in June 2015 as President, Chief Executive Officer (CEO), and a Director of Align Technology.
On the job as CFO since 2013
David White was appointed Chief Financial Officer (CFO) in August 2013 and is responsible for managing the global financial strategy and IT operations.
Over his 30-year career, White has held CFO positions in multiple high technology companies in Silicon Valley with revenues ranging from $600 million to $11 billion and employees of up to 50,000.
Prior to joining Align Technology, White was Chief Financial Officer of Enecsys, Ltd., a privately-held supplier of solar micro inverters and monitoring systems.
Prior to Enecsys, he was Executive Vice President and CFO at NVIDIA Corporation, a fabless semiconductor company known for its development of advanced graphics and high performance computing processors.
Prior to NVIDIA, he was Executive Vice President of Finance and CFO at SANMINA-SCI Corporation, which provided contract design, supply chain, and manufacturing services.
White has also served as CFO at Asyst Technologies Corporation, CEO at Candescent Technologies Corporation, and Senior Vice President of Finance at Connor Peripherals.
White earned an M.B.A. degree from the University of Washington and a B.S. degree in Physics from Brigham Young University.
David L. White will step down as CFO effective November 10 and stay with the Company through February 2017. During this transition period, White will continue to oversee certain planning and ERP implementation projects and will work closely with newly appointed CFO John F. Morici to ensure a smooth transition.
Significant signs for push-out forces
It is not completely certain what forces eventually triggered David L. White’s move.
The Push-out Score™ determined by management-change.com suggests significant signs for push-out forces that may have contributed to the management change.
Read the full story in the management-change.com report 42.2016 ($).