- Signs for push-out forces
- After seven years on the job
- Steve Oswald taking over
- Reardon will remain as executive chairman at Ducommun
(management-change.com) — Los Angeles, California, January 05, 2017 — Tony Reardon, chief executive of Ducommun, leaves the position. It is a change at short notice. As announced by Ducommun Incorporated in a news release on Thursday, January 05, 2017, Anthony J. (Tony) Reardon leaves the post as Chief Executive Officer at the manufacturing company serving the aerospace and defense industry after seven years on the job, effective January 23, 2017.
Reardon’s duties are taken over by Steve Oswald, a former Chief Executive Officer at Capital Safety.
The fact that Reardon’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, Ducommun did not explicitly explain the reason for Reardon’s imminent move.
Reardon will remain as executive chairman at Ducommun
Reardon will relinquish his current operational duties but continue as executive chairman of Ducommun.
Share price rise since February 2016
The change follows a rise in the share price of Ducommun Incorporated since February 2016.
Royal Bank of Canada holds 9.86 percent stake
Royal Bank of Canada reported a 9.86 percent stake in Ducommun Incorporated as of September 30, 2016.
On the job as CEO since 2010
Reardon has been Chairman of Ducommun Inc. since July 27, 2012 and has been its Chief Executive Officer since January 1, 2010 and President since June 29, 2016 and also served as its President from January 2008 to January 1, 2014.
From January 2003 to December 2007, he was president of Ducommun AeroStructures, Ducommun’s largest subsidiary.
Prior to joining Ducommun, Reardon had over 25 years of experience in roles of increasing roles of responsibility in areas of manufacturing, engineering, marketing and general management, starting with Sundstrand Aviation in Rockford, Illinois.
He had a B.A. in Business Administration from Loras College in Dubuque, Iowa and has done graduate work at Northern Illinois University.
Both Reardon and Oswald will be members of the Company’s board of directors.
Signs for push-out forces
It is not completely certain what forces eventually triggered Tony Reardon’s move.
The Push-out Score™ determined by management-change.com suggests that push-out forces may have contributed to the management change.
Read the full story in the management-change.com report 02.2017 ($).