- Signs for push-out forces
- After almost four years on the job
- Laud, praise and thanks for Teich
- Search for a successor
(management-change.com) — Wilsonville, Oregon, February 14, 2017 — Andy Teich, chief executive of Flir, leaves. As announced by Flir Systems, Inc. in a news release on Tuesday, February 14, 2017, Andrew C. (Andy) Teich leaves the post as Chief Executive Officer at the maker of thermal imaging cameras in a surprising move after almost four years on the job.
Teich will continue to serve in his current roles until a successor is appointed.
Flir will undertake a search for a successor.
No reason given
In the announcement, Flir did not explicitly explain the reason for Teich’s move, opening the door for speculation.
Flir announced that Andrew C. Teich, its President, Chief Executive Officer and a member of its Board of Directors, “plans to retire after 33 years of service”.
Precise information about the future plans of Teich was not immediately available.
Share price rise since November 2015
The change follows a rise in the share price of Flir Systems, Inc. since November 2015.
Chaired by Earl R. Lewis
Flir Systems, Inc. is chaired by Earl R. Lewis.
Lewis served as Chairman, President and Chief Executive Officer of the Company from November 2000 until his retirement in May 2013 as President and Chief Executive Officer. He continues to serve as Chairman of the Board.
On the job as CEO since 2013
Teich has been the Chief Executive Officer and President of Flir Systems, Inc., since May 19, 2013.
He was elected to the Company’s Board of Directors in July 2013.
Previously, Teich was President of the Company’s Commercial Systems Division from January 2010 to May 2013.
From April 2006 to January 2010, he served as President of the Company’s Commercial Vision Systems Division.
From 2000 to 2006, he served as the Senior Vice President of Sales and Marketing and then as Co-President of the Imaging Division at Flir.
Teich joined Flir as Senior Vice President, Marketing, as a result of Flir’s acquisition of Inframetrics in March 1999.
While at Inframetrics, Teich served as Vice President of Sales and Marketing from 1996 to 1999.
From 1984 to 1996, Teich served in various capacities within the sales organization at Inframetrics.
He holds a B.S. in Marketing from Arizona State University and is an alumnus of the Harvard Business School Advanced Management Program.
Teich has been a Director of Sensata Technologies Inc. since May 2013.
As a general rule, when a top leader announces to step down with no successor in place, it’s a signal that the change was unplanned and too early.
Signs for push-out forces
It is not completely certain what forces eventually triggered Andy Teich’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 08.2017 ($).