- Signs for push-out forces
- After around eight years on the job
- No successor named
(exechange) — Norwalk, Connecticut, May 12, 2017 — Dan Finnegan, finance chief of Priceline, leaves. As announced by The Priceline Group Inc. in a regulatory filing published on Friday, May 12, 2017, Daniel J. (Dan) Finnegan leaves the post as Chief Financial Officer at the provider of travel services in a surprising move after around eight years on the job.
Priceline said: “On May 9, 2017, The Priceline Group Inc. … announced that Daniel J. Finnegan, the Company’s Chief Financial Officer and Chief Accounting Officer, plans to retire pending the hiring of his successor.”
No reason given
In the announcement, Priceline did not explicitly explain the reason for Finnegan’s move, leaving room for speculation.
Precise information about the future plans of Finnegan was not immediately available.
Share price rise since February 2016
The change follows a rise in the share price of The Priceline Group Inc. since February 2016.
On the job as CFO since 2009
Daniel J. Finnegan is the Company’s Chief Financial Officer and Chief Accounting Officer.
Finnegan has been Chief Financial Officer since January 2009.
Finnegan was Senior Vice President, Controller and Chief Accounting Officer from October 2005 to January 2009.
Finnegan joined Priceline in April 2004 as Vice President and Chief Compliance Officer.
Prior to that, Finnegan served as Chief Financial Officer for CS Technology, Inc., a consulting company, from October 2000 to April 2004.
Generally speaking, when a top manager announces to step aside with no successor in place, it is a sign that the change was unplanned and too early.
Generally speaking, potential causes for an unplanned management change may be, among others, disagreement or dispute, family reasons, health reasons and surprising new career opportunities.
Signs for push-out forces
It is not completely certain what forces eventually triggered Dan Finnegan’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 21.2017 ($).