- Push-out Score suggests push-out forces
- After almost ten years on the job
- Thanks for Jadin
- Search for a successor
(exechange) — Chicago, Illinois, July 19, 2017 — Ron Jadin, finance chief of Grainger, leaves. His departure is made public at an early stage. As announced by W.W. Grainger, Inc. in a news release and in a regulatory filing published on Wednesday, July 19, 2017, Ronald L. (Ron) Jadin, Chief Financial Officer, leaves the industrial supply company in a surprising move after almost ten years on the job, effective at year-end.
Jadin’s move comes ten months after D.G. Macpherson took over as CEO of W.W. Grainger, Inc.
Grainger will undertake a search for a successor.
No reason given
In the announcement, Grainger did not explicitly explain the reason for Jadin’s move, leaving room for speculation.
Precise information about the future plans of Jadin was not immediately available.
Share price decline
The change follows a sharp decline in the share price of W.W. Grainger, Inc. since April 2017.
Chaired by James T. Ryan
W.W. Grainger, Inc. is chaired by James T. Ryan.
James T. Ryan is Grainger’s Chairman of the Board, a role he has held since April 2009. Ryan served as Chief Executive Officer from June 2008 through September 2016.
CEO: D.G. Macpherson
D.G. Macpherson serves as CEO of W.W. Grainger, Inc. D.G. Macpherson was named Chief Executive Officer in October 2016.
He served as Chief Operating Officer for Grainger from August 2015 through September 2016.
On the job as CFO since 2008
Ronald L. Jadin was named Senior Vice President and Chief Financial Officer for Grainger in March 2008.
His responsibilities include financial planning and analysis, financial reporting, internal audit, treasury operations and financial services.
Jadin, who joined the company in 1998, had served as Vice President and Controller since November 2006.
He also has served as Vice President, Finance, for Grainger Industrial Supply, as well as Director of Financial Planning and Analysis for the Company.
Prior to joining Grainger, Jadin spent 15 years serving in financial analysis and management capacities within General Electric.
Jadin graduated with a bachelor’s degree in economics from Yale University and earned his master’s degree in business administration with a concentration in finance from the University of Wisconsin at Whitewater.
Jadin volunteers at Habitat for Humanity and his church.
As a general rule, when a top leader announces to step down with no successor in place, it is a sign that the move was unexpected and too early.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Ron Jadin’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 30.2017 ($).