- Signs for push-out forces
- After around nine years on the job
- Laud, praise and thanks for Kraeutler
- Search for a successor
- Kraeutler will remain as Executive Chairman at Meridian
- Kraeutler spoke at length and said 100 words
(exechange) — Cincinnati, Ohio, May 10, 2017 — Jack Kraeutler, chief executive of Meridian, leaves. As announced by Meridian Bioscience, Inc. in a news release and in a regulatory filing published on Wednesday, May 10, 2017, John A. (Jack) Kraeutler leaves the post as Chief Executive Officer at the life science company after around nine years on the job.
Kraeutler, the Company’s Chairman of the Board of Directors, Chief Executive Officer and President, plans to continue to serve in the capacity of CEO until his successor is identified.
Meridian will undertake a search for a successor.
“To bring on a CEO who can take Meridian to the next level”
A reason for the change was not explicitly given. David Phillips, Lead Director, said: “The Board and Mr. Kraeutler have planned for the transition of his leadership, and they will work together to bring on a CEO who can take Meridian to the next level, utilizing its considerable assets.”
Kraeutler will remain as Executive Chairman at Meridian
“Going forward [Kraeutler] will be available to assist the new CEO during the transition and onboarding phases, and will remain as Executive Chairman of Meridian’s Board of Directors,” Meridian said.
Meridian said: “Meridian Bioscience, Inc. … announced it will commence a global search for a new Chief Executive Officer in conjunction with the planned retirement of John A. Kraeutler in accordance with the terms of his employment agreement.”
Share price decline
The change follows a decline in the share price of Meridian Bioscience, Inc. since January 2017.
Brown Capital holds 13.49 percent stake
Brown Capital Management, Inc. reported a 13.49 percent stake in Meridian Bioscience, Inc. as of December 30, 2016.
On the job as CEO since 2008
John A. Krauetler has been the Chief Executive Officer of Meridian Bioscience, Inc. since January 28, 2008.
John A. Kraeutler has more than 44 years of experience in the biomedical industry and was appointed Chairman of the Board in 2014.
He had been the President and Chief Operating Officer of Meridian Bioscience, Inc. since 1992.
Before joining Meridian, Kraeutler served as Vice President, General Manager for a division of Carter-Wallace, Inc.
Prior to that, he held key marketing and technical positions with Becton, Dickinson and Company and Organon, Inc.
Kraeutler is a member of the AssureRx Board of Managers.
He is a Director of the Cincinnati USA Regional Chamber, and is the current Chairman of the Board, Dan Beard Council, Boy Scouts of America.
He is also a former appointed member of the Ohio Third Frontier Commission.
Generally speaking, when a top manager announces to step aside with no successor available, it is a sign that the change was unexpected and too early.
Signs for push-out forces
It is not completely certain what forces eventually triggered Jack Kraeutler’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 20.2017 ($).