- Signs for push-out forces
- After almost ten years on the job
- Laud and praise for Stultz
- Search for a successor
- Stultz spoke at length and said 105 words
(exechange) — Milpitas, California, May 24, 2017 — Tim Stultz, chief executive of Nanometrics, leaves. As announced by Nanometrics Incorporated in a news release and in a regulatory filing published on Wednesday, May 24, 2017, Timothy J. (Tim) Stultz leaves the post as chief executive officer at the provider of process control systems after almost ten years on the job.
Stultz will continue as CEO until his successor is named, assist with a seamless transition, and continue to serve as a director of the company.
Nanometrics will undertake a search for a successor.
“Now is the time to initiate the transition”
The management change is explained as follows. Stultz said: “As I complete my 10th year at Nanometrics and look forward to my 70th birthday, I decided in consultation with the Board that now is the time to initiate the transition to new leadership of the company.”
Precise information about the future plans of Stultz was not immediately available.
Nanometrics said: “On May 23, 2017, Dr. Timothy J. Stultz, the President and Chief Executive Officer of Nanometrics Incorporated, notified the company of his plans to retire.”
Share price rise since February 2016
The change follows a rise in the share price of Nanometrics Incorporated since February 2016.
Chaired by Bruce C. Rhine
Nanometrics Incorporated is chaired by Bruce C. Rhine.
Rhine has served as the Company’s Chairman of the Board of Directors since July 2007 and as a director since July 2006.
On the job as CEO since 2007
Timothy J. Stultz has served as President, Chief Executive Officer and a director since August 2007.
From June 2003 to August 2007, Stultz served as the President and Chief Executive Officer and a director of Imago Scientific Instruments Corporation, a supplier of proprietary 3-D atom probe microscopes to the research materials and microelectronics industries.
Prior to Imago, Stultz served as President and Chief Executive Officer for ThauMDx, a developer of diagnostic systems and technologies for the analysis of biomolecules, drugs and chemicals.
Stultz received his B.S., M.S. and Ph.D. degrees in Materials Science and Engineering from Stanford University.
Generally speaking, when a top leader announces to step aside with no successor in place, it is a sign that the move was unexpected and too early.
Signs for push-out forces
It is not completely certain what forces eventually triggered Tim Stultz’ 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 22.2017 ($).