- Strong signs for push-out forces
- After almost 17 years on the job
- Laud, praise and thanks for Katz
- Search for a successor
(management-change.com) — Migdal Ha’Emeq, Israel, November 16, 2016 — Ariel Katz, chief executive of Enzymotec, leaves. His departure is made public at an early stage. As announced by Enzymotec Ltd. in a regulatory filing published on Wednesday, November 16, 2016, Ariel Katz, Chief Executive Officer, leaves the maker of nutritional ingredients and medical foods in a surprising move after almost 17 years on the job, effective by the end of May 2017.
It is the end of an era.
Enzymotec will undertake a search for a successor.
No reason given
In the announcement, Enzymotec did not explicitly explain the reason for Katz’ move, leaving room for speculation.
Enzymotec said: “Ariel Katz, the Company’s President and Chief Executive Officer, will depart the Company by the end of May 2017.”
Precise information about the future plans of Katz was not immediately available.
Share price decline
The change follows a decline in the share price of Enzymotec Ltd. since December 2013.
Paulson holds 18.55 percent stake
Paulson & Company, Inc. reported an 18.55 percent stake in Enzymotec Ltd. as of June 30, 2016. Paulson is an alternative investment manager specializing in event driven investing.
Chaired by Steve Dubin
Enzymotec Ltd. is chaired by Steve Dubin.
Steve Dubin has served as Chairman of the board of directors since January 2014 and served as Vice Chairman since his appointment as a director in April 2013.
On the job as CEO since 2000
Ariel Katz joined Enzymotec in August 2000 as President and Chief Executive Officer.
He has also headed Enzymotec’s VAYA Pharma segment since January 2012.
Prior to joining Enzymotec, Katz held various positions with the Dead Sea Bromine Group of Israel Chemicals Ltd. for 14 years, including senior positions in research and development, plant management, marketing and business development.
Katz holds a bachelor’s degree in chemistry and an M.Sc. in economic management both from Ben-Gurion University of the Negev, Beer Sheva, Israel, and a PhD in engineering in the field of artificial intelligence from Exeter University, UK.
From 2003 until 2010 Katz was a guest lecturer in the Biotechnology Department in the Technion – Israel Institute of Technology, Haifa, Israel.
As a general rule, when a top manager announces to step aside with no successor in place, it’s a signal that the change was unexpected and too early.
Generally speaking, potential causes for an unexpected management change can be, among others, disagreement, health reasons, urgent family reasons or surprising new career opportunities.
Strong signs for push-out forces
It is not completely certain what forces eventually triggered Ariel Katz’ move.
The Push-out Score™ determined by management-change.com suggests strong signs for push-out forces that may have contributed to the management change.
Read the full story in the management-change.com report 43.2016 ($).