- Signs for push-out forces
- After three years on the job
- Praise and thanks for Rosenman
- Mike Brophy taking over
(management-change.com) — San Carlos, California, February 03, 2017 — Herm Rosenman, finance chief of Natera, leaves. It is an abrupt change. As announced by Natera Inc. in a news release on Friday, February 03, 2017, Herman (Herm) Rosenman has already left the post as chief financial officer at the non-invasive genetic testing company in a surprising move after three years on the job, effective January 31, 2017.
Rosenman’s duties are taken over by Mike Brophy, most recently senior vice president of Finance and Investor Relations at Natera Inc.
Rosenman joined the Company’s board of directors effective February 1, 2017.
“The promotion of Mike … has long been a part of our succession planning”
The sudden management change is explained as follows. Natera said: “We are pleased to announce the promotion of Mike to CFO, which has long been a part of our succession planning for the company. Mike has succeeded in his past roles at Natera and will be essential to Natera’s continued growth.”
Natera said: Brophy “replaces” Herman Rosenman.
Share price decline
The change follows a decline in the share price of Natera Inc. since July 2015.
SC XII holds 14.78 percent stake
SC XII Management LLC reported a 14.78 percent stake in Natera Inc. as of September 30, 2016.
CEO: Matthew Rabinowitz
Matthew Rabinowitz serves as CEO of Natera Inc. Rabinowitz, Ph.D., is Co-Founder of Natera, Inc. and has been its Chief Executive Officer since 2005.
On the job as CFO since 2014
Roseman has been Natera’s CFO since January 2014.
Rosenman is an experienced executive in senior operations and financial roles.
He was Senior Vice President-Finance & CFO at Gen-Probe Incorporated from June 2001 until its sale to Hologic in August, 2012.
From 1997 to 2000, Rosenman was President and Chief Executive Officer of Ultra Acquisition Corp., a retail chain and consumer products manufacturer.
He was President and Chief Executive Officer of RadNet Management, Inc., a large diagnostic imaging provider, as well as Executive Vice President & Chief Financial Officer of Rexene Corp., a petrochemicals industry Fortune 1000 company.
Rosenman was also a partner at Coopers & Lybrand (now PricewaterhouseCoopers LLP) where he served numerous Fortune 1000 clients, principally in the pharmaceuticals and telecommunications industries.
He received a B.B.A. in finance and accounting from Pace College (now Pace University) and an M.B.A. in finance from the Wharton School of the University of Pennsylvania.
Rosenman currently serves on the Board of Directors of Oxford Immunotec, Ltd., Vivus, Inc. and Renaissance Rx.
At the time of Rosenman’s appointment as chief financial officer at Natera, Matthew Rabinowitz, chief executive officer of Natera, had said: “Herm will play a key role in the continued expansion of our company.”
Signs for push-out forces
It is not completely certain what forces eventually triggered Herm Rosenman’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 06.2017 ($).