- Signs for push-out forces
- After almost five years on the job
- Praise, thanks and good wishes for Oliver
- Search for a successor
(exechange) — Valley Forge, Pennsylvania, April 10, 2017 — Kirk Oliver, finance chief of UGI, leaves. As announced by UGI Corporation in a news release and in a regulatory filing published on Monday, April 10, 2017, Kirk R. Oliver leaves the post as chief financial officer at the distributor and marketer of energy products after almost five years on the job, effective in early 2018.
UGI will undertake a search for a successor.
No reason given
In the announcement, UGI did not explicitly explain the reason for Oliver’s move, leaving room for speculation.
Precise information about the future plans of Oliver was not immediately available.
UGI said: “Kirk R. Oliver intends to leave his position as Chief Financial Officer in early 2018.”
Chaired by Marvin O. Schlanger
UGI Corporation is chaired by Marvin O. Schlanger.
CEO: John L. Walsh
John L. Walsh serves as CEO of UGI Corporation. John L. Walsh, Jr. was named President and Chief Executive Officer of UGI Corp in April 2013.
On the job as CFO since 2012
Kirk R. Oliver has been the Chief Financial Officer at UGI Corporation since October 01, 2012.
Oliver was previously Senior Managing Director & COO of InfraREIT Capital Partners, LLC, a partnership structured to enable the ownership of infrastructure assets through Real Estate Investment Trusts.
Prior to joining InfraREIT Capital, Oliver served in various executive roles in the energy industry, including Chief Financial Officer of Allegheny Energy, Inc. and Executive Vice President, Chief Financial Officer of TXU Corp.
Prior to joining TXU Corp., Oliver spent eleven years as an investment banker in the Global Power and Energy Group at Lehman Brothers and six years at Motorola Inc.
Oliver holds an MBA with a concentration in Finance and International Business from the University of Chicago and a BSEE from Lawrence Technological University in Southfield, Michigan.
Oliver expects to continue to serve as the Company’s Chief Financial Officer until early 2018 to ensure an orderly transition of his duties and responsibilities.
Generally speaking, when a top manager announces to step aside with no successor available, it’s a signal that the move was unplanned and too early.
Signs for push-out forces
It is not completely certain what forces eventually triggered Kirk Oliver’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 16.2017 ($).