- Push-out Score suggests push-out forces
- After five years on the job
- Accolades, praise and thanks for Van Heel
- Brett Ponton taking over
- Van Heel said 68 words
(exechange) — Rochester, New York, June 28, 2017 — John Van Heel, chief executive of Monro, leaves. As announced by Monro Muffler Brake, Inc. in a news release and in a regulatory filing published on Wednesday, June 28, 2017, John W. Van Heel leaves the post as Chief Executive Officer at the automotive service company in a surprising move after five years on the job, effective October 01, 2017.
Van Heel’s duties are taken over by Brett Ponton, most recently Chief Executive Officer at American Driveline Systems.
The fact that Van Heel’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.
“The right person to lead Monro at this stage in its growth”
A reason for the change was not explicitly given. Lead director Robert Mellor said, referring to Ponton: “He is the right person to lead Monro at this stage in its growth.”
Precise information about the future plans of Van Heel was not immediately available.
“Has decided not to renew his long-term contract”
Monro said: “Mr. Ponton will succeed John Van Heel, who has decided not to renew his long-term contract when it expires on October 1, 2017.”
Share price decline
The change follows a decline in the share price of Monro Muffler Brake, Inc. since November 2015.
On the job as CEO since 2012
On June 28, 2017, John W. Van Heel resigned as President of Monro Muffler Brake, Inc., effective as of August 1, 2017.
In addition, Van Heel’s employment as Chief Executive Officer of the Company will end on October 1, 2017 upon the expiration of his term of employment in accordance with the terms of his existing employment agreement with the Company and, in connection therewith, on June 28, 2017, Van Heel also tendered his resignation as a member of the Board of Directors of the Company, effective as of October 1, 2017.
Van Heel has been CEO and a member of the Board of Directors since 2012.
John W. Van Heel has been Chief Executive Officer from October 2012 and President since April 2008.
He served as Secretary of the Company from October 2004 until May 2012.
From October 2006 to April 2008, Van Heel served as Executive Vice President — Store Support and Chief Administrative Officer.
From June 2005 to October 2006, Van Heel was Senior Vice President — Store Support.
From October 2002 to May 2005, Van Heel served as Vice President — Finance to the Company.
From May 2000 to September 2002, Van Heel served as Vice President — Finance and Chief Financial Officer of RCG Companies, Inc., a publicly held, diversified holding company, and its subsidiary companies.
Prior to May 2000, Van Heel was a Director in the Transaction Services (acquisition consulting) practice at PricewaterhouseCoopers LLP, serving in the firm’s New York City; Milan, Italy; and Rochester, New York offices from 1989.
Van Heel will serve as an advisor to Monro for six months following the end of his contract.
“In discussions about succession planning with the Board, Van Heel indicated that he did not wish to renew his long-term contract. Subsequently, the Monro Board of Directors began an extensive, nationwide search for a new leader,” Monro said.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered John Van Heel’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 27.2017 ($).