- Signs for push-out forces
- After 20 years on the job
- Laud and praise for Gerlach
- Dave Ciesinski taking over
- Gerlach will remain as Executive Chairman at Lancaster Colony
- Gerlach said 52 words
(exechange) — Westerville, Ohio, May 25, 2017 — Jay Gerlach, chief executive of Lancaster Colony, leaves the position. It is a change at short notice. As announced by Lancaster Colony Corporation in a news release and in a regulatory filing published on Thursday, May 25, 2017, John B. (Jay) Gerlach leaves the post as Chief Executive Officer at the food company after 20 years on the job, effective July 01, 2017.
It is the end of an era.
Gerlach’s duties are taken over by Dave Ciesinski, currently Chief Operating Officer at Lancaster Colony Corporation.
No reason given
In the announcement, Lancaster Colony did not explicitly explain the reason for Gerlach’s imminent move, opening the door for speculation.
Gerlach will remain as Executive Chairman at Lancaster Colony
“John B. (“Jay”) Gerlach, Jr., the Company’s current CEO, will continue his employment and retain his role as Lancaster Colony’s Executive Chairman,” Lancaster Colony said.
Share price decline
The change follows a decline in the share price of Lancaster Colony Corporation since January 2017.
On the job as CEO since 1997
John B. Gerlach Jr. has been the Chairman of the Board and Chief Executive Officer of Lancaster Colony Corporation since 1997 and served as its President from 1997 to April 18, 2016.
Gerlach serves as the Chairman and Chief Executive Officer of T. Marzetti Company, a wholly-owned subsidiary of Lancaster Colony.
He has been a Director at Lancaster Colony Corporation since 1985.
Signs for push-out forces
It is not completely certain what forces eventually triggered Jay Gerlach’s imminent 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 ($).