- Push-out Score suggests push-out forces
- After about 35 years on the job
- John Adent taking over
- Herbert will remain as executive chairman at Neogen
- Herbert spoke at length and said 102 words
(exechange) — Lansing, Michigan, July 17, 2017 — James Herbert, chief executive of Neogen, leaves the position. It is an abrupt change. As announced by Neogen Corporation in a news release and in a regulatory filing published on Monday, July 17, 2017, James L. Herbert leaves the post as chief executive officer at the food safety company in a surprising move after about 35 years on the job, effective immediately.
It is the end of an era.
Herbert’s duties are taken over by John Adent, most recently Chief Executive Officer at Patterson Animal Health.
The move is a generational change as well. John Adent is about 28 years younger than James Herbert.
The fact that Herbert’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
No reason given
In the announcement, Neogen did not explicitly explain the obviously compelling reason for Herbert’s sudden move, opening the door for speculation.
Herbert will remain as executive chairman at Neogen
“James Herbert, the company’s founder and former CEO, will remain as executive chairman and work closely with Adent in the transition of responsibilities,” Neogen said.
Share price rise since December 2011
The change follows a rise in the share price of Neogen Corporation since December 2011.
On the job as CEO since 1982
James L. Herbert served as the Chief Executive Officer at Neogen Corporation since June 1982.
James L. Herbert was Chairman of the Board and Chief Executive Officer of the Company.
Previously he was President, Chief Executive Officer, and a Director of the Company since he joined the Company in June 1982.
He resigned as President in 2006, but remained CEO and was named Chairman at that time.
Prior to joining the Company, he held the position of Corporate Vice President of DeKalb Ag Research, a major agricultural genetics and energy company.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered James Herbert’s sudden 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 30.2017 ($).