- Push-out Score suggests push-out forces
- After almost 15 years on the job
- Accolades, praise and thanks for Hunt
- Scott Clements taking over
- Hunt will remain as Chairman at Vasco
- Hunt spoke at length and said 183 words
(exechange) — Oakbrook Terrace, Illinois, and Zurich, Switzerland, July 27, 2017 — Ken Hunt, chief executive of Vasco, leaves the position. It is an abrupt change. As announced by Vasco Data Security International, Inc. in a news release on Thursday, July 27, 2017, T.Kendall (Ken) Hunt leaves the post as Chief Executive Officer at the cybersecurity company in a surprising move after almost 15 years on the job, effective July 28, 2017.
It is the end of an era.
Hunt’s duties are taken over by Scott Clements, currently Chief Operating Officer at Vasco Data Security International, Inc.
“Now is the right point”
The sudden management change is explained as follows. Hunt said: “The Board and I have been preparing to make this transition for some time and now is the right point to take this action.”
Hunt will remain as Chairman at Vasco
“Mr. Hunt will continue to serve as Chairman of the Board,” Vasco said.
Vasco said: “Mr. Clements succeeds Founder, Chairman and Chief Executive Officer T. Kendall Hunt.”
Share price decline
The change follows a sharp decline in the share price of Vasco Data Security International, Inc. since June 2015.
On the job as CEO since 2002
Kendall Hunt is the Chief Executive Officer of Vasco Data Security International Inc. (VDSI) since November 20, 2002.
Hunt is the Company’s founder, Chairman of the Board and Chief Executive Officer.
Hunt has served as Chairman of the Board since the Company’s incorporation in 1997, and currently serves a one-year term.
He was the Company’s Chief Executive Officer from 1997 through 1999 and returned as CEO in November 2002.
He served as a member of the Board of Directors of Global Med Technologies, Inc. from March 2006 until April 2010 and RedRoller Holdings, Inc. from December 2007 until December 2008.
He holds an MBA from Pepperdine University, Malibu, California, and a B.B.A. from the University of Miami, Florida.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Ken Hunt’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 31.2017 ($).