- After almost 14 years on the job
- Thomas will remain as Executive Chairman
(management-change.com) — Garfield Heights, Ohio, February 22, 2017 — Sam Thomas, chief executive of Chart Industries, hands over the reins. As announced by Chart Industries, Inc. in a regulatory filing published on Wednesday, February 22, 2017, Samuel F. (Sam) Thomas leaves the post as Chief Executive Officer at the maker of equipment for the gas industry after almost 14 years on the job, effective May 25, 2017.
It is the end of an era.
Thomas’ duties are taken over by Bill Johnson, currently President and Chief Operating Officer at Chart Industries, Inc.
The move is part of a management shake-up also involving the position of Chief Financial Officer.
“Ongoing efforts to achieve an orderly succession plan”
The management change is explained as follows. Chart Industries said: “On February 15, 2017, in connection with the Company’s ongoing efforts to achieve an orderly succession plan, the Board of Directors of Chart Industries, Inc. … elected Samuel F. Thomas, its current Chairman and Chief Executive Officer, to the position of Executive Chairman of the Company effective as of the Company’s May 25, 2017 Annual Meeting of Stockholders.”
Thomas will continue in this executive officer role as the Company’s Executive Chairman until the Company’s May 2018 Annual Meeting of Stockholders, at which time Thomas will retire from all positions with the Company.
Share price rise since January 2016
The change follows a rise in the share price of Chart Industries, Inc. since January 2016.
On the job as CEO since 2003
Samuel F. Thomas was elected Chairman of the Board of Directors in March 2007 and has served as Chief Executive Officer and as a member of our Board of Directors since October 2003.
Prior to joining Chart Industries, Thomas was Executive Vice President of Global Consumables at ESAB Holdings Ltd, a provider of welding consumables and equipment.
In addition to his most recent position at ESAB, Thomas was responsible for ESAB North America during his employment at ESAB Holdings Ltd.
Prior to joining ESAB in February 1999, Thomas was Vice President of Friction Products for Federal Mogul, Inc.
Prior to its acquisition by Federal Mogul in 1998, Thomas was employed by T&N plc from 1976 to 1998, where he served from 1991 as chief executive of several global operating divisions, including industrial sealing, camshafts and friction products.
Thomas also serves as a director of Lumentum Holdings Inc.
Read the full story in the management-change.com report 09.2017 ($).