Spok CFO Shawn Endsley leaves post abruptly

  • Signs for push-out forces
  • After almost seven years on the job
  • Laud, praise and thanks for Endsley
  • Mike Wallace taking over
  • Endsley will remain as Chief Accounting Officer

(exechange) — Springfield, Virginia, March 27, 2017 — Shawn Endsley, finance chief of Spok, leaves the position. It is an abrupt change. As announced by Spok Holdings, Inc. in a news release and in a regulatory filing published on Monday, March 27, 2017, Shawn E. Endsley leaves the post as Chief Financial Officer at the healthcare communications company in a surprising move after almost seven years on the job, effective immediately.

Endsley’s duties are taken over by Mike Wallace, most recently Chief Financial Officer at Intermedix.

The fact that Endsley’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.

“The time was right to transition the CFO role to someone with deeper software industry experience”

The sudden management change is explained as follows. Vincent D. Kelly, CEO, said in a fairly blunt statement: “[W]e mutually agreed that the time was right to transition the CFO role to someone with deeper software industry experience.”

Spok said: “Wallace brings with him a proven ability to manage the finance function in a rapidly growing and changing environment and implementing strategies for improving revenue and profitability.”

Endsley will remain as Chief Accounting Officer at Spok

Endsley effective immediately assumes the role of Chief Accounting Officer.

Endsley will report to Wallace in the role of Chief Accounting Officer.

Share price decline

The change follows a decline in the share price of Spok Holdings, Inc. since January 2017.

Chaired by Royce Yudkoff

Spok Holdings, Inc. is chaired by Royce Yudkoff.

Yudkoff became a director and the Chair of the Board in November 2004.

CEO: Vincent D. Kelly

Vincent D. Kelly serves as CEO of Spok Holdings, Inc. Kelly became a director, President and CEO of USA Mobility, Inc. (now Spok) in November 2004 when the company was formed through the merger of Metrocall, Inc. and Arch Wireless.

On the job as CFO since 2010

Endsley has been the Chief Financial Officer of Spok Holdings, Inc. (formerly USA Mobility, Inc.) since September 29, 2010.

Endsley was responsible for the financial management of the company.

Endsley was previously the Controller and Chief Accounting Officer beginning in May 2005.

Metrocall Holdings, Inc., a predecessor to the company, hired Endsley as corporate controller in June 2004.

Prior to joining the company Endsley had more than 20 years of experience in the telecommunications industry with financial or consulting positions at several publicly traded companies.

This experience included Qwest Communications International Inc.; a predecessor company, LCI International, Inc., both domestic telecommunications providers (1989-1999); and Global TeleSystems, Inc., an international provider of communication services (1999-2001).

Endsley provided consulting and forensic accounting support at a large telecommunications company from 2002-2004.

He has a Bachelor of Arts in Accounting from Ohio Northern University and a Masters of Business Administration from The Ohio State University.

He is also licensed as a Certified Public Accountant in the Commonwealth of Virginia.

Signs for push-out forces

It is not completely certain what forces eventually triggered Shawn Endsley’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 14.2017 ($).