- Signs for push-out forces
- After almost nine years on the job
- Laud, praise and thanks for Funk
- Search for a successor
- Funk said 60 words
(exechange) — Phoenix, Arizona, March 13, 2017 — Mark Funk, finance chief of Mobile Mini, leaves. As announced by Mobile Mini, Inc. in a news release on Monday, March 13, 2017, Mark E. Funk leaves the post as Chief Financial Officer at the portable storage company in a surprising move after almost nine years on the job, effective June 30, 2017.
Mobile Mini will undertake a search for a successor.
“Pursuing several personal and professional goals”
The management change is explained as follows. Funk said: “I’ll be taking some time off before pursuing several personal and professional goals.”
Precise information about the future plans of Funk was not immediately available.
Mobile Mini said: Mark E. Funk “will be stepping down as CFO on June 30, 2017”.
Share price decline
The change follows a decline in the share price of Mobile Mini, Inc. since June 2014.
CEO: Erik Olsson
Erik Olsson serves as CEO of Mobile Mini, Inc. Erik Olsson became President, Chief Executive Officer and a Director of Mobile Mini in April 2013.
On the job as CFO since 2008
Mark E. Funk has served as the Company’s Executive Vice President and Chief Financial Officer since November 2008.
Prior to joining Mobile Mini, Funk was with Deutsche Bank Securities Inc. from September 1988 to November 2008, most recently as Managing Director in its Structured Debt Group, where he worked on numerous high profile transactions.
During his tenure at Deutsche Bank, Funk worked in their New York, London, Chicago and Los Angeles offices.
Prior to joining Deutsche Bank, Funk passed the certified public accountant examination and was a senior auditor with KPMG.
Funk earned a B.S. degree in Business Administration from California State University Long Beach and a MBA from University of California, Los Angeles.
Generally speaking, when a top manager announces to step down with no successor in place, it is a signal that the change was unexpected and too early.
Signs for push-out forces
It is not completely certain what forces eventually triggered Mark Funk’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 12.2017 ($).