- Push-out Score suggests push-out forces
- After almost three years on the job
- Accolades, praise, thanks, words of regret and good wishes for Poulton
- Search for a successor
- Poulton spoke at length and said 100 words
(exechange) — Dublin, Ireland, August 21, 2017 — Jeff Poulton, finance chief of Shire, leaves. As announced by Shire plc in a news release and in a regulatory filing published on Monday, August 21, 2017, Jeffrey (Jeff) Poulton, Chief Financial Officer, leaves the biotechnology company in a surprising move after almost three years on the job, effective December 31, 2017.
No company wants a CFO to flame out in the first years.
Shire will undertake a search for a successor.
Poulton’s move is part of a management shake-up also involving the position of Chief Human Resources Officer.
Shire said it “announces changes to its Executive Committee, as it progresses its strategy to sharpen its focus as a leader in rare diseases.”
Poulton will be CFO at Indigo Ag
“Jeff Poulton, Chief Financial Officer, will be leaving Shire at the end of the year to serve as CFO at Indigo Ag, Inc., a start-up company based in Boston that uses the plant microbiome to improve the productivity and sustainability of agriculture,” Shire said.
Share price decline
The change follows a decline in the share price of Shire plc since August 2015.
Chaired by Susan Kilsby
Shire plc is chaired by Susan Kilsby.
Kilsby served as an independent Non-Executive Director prior to her appointment as Chairman on April 29, 2014.
CEO: Flemming Ornskov
Flemming Ornskov serves as CEO of Shire plc. Ornskov served as Chief Executive Officer Designate prior to his appointment as Chief Executive Officer on April 30, 2013.
On the job as CFO since 2015
Jeffrey Poulton has been the Chief Financial Officer of Shire plc since April 29, 2015 and served as its Interim Chief Financial Officer from January 1, 2015 to April 2015.
Jeffrey Poulton joined Shire in 2003 and is Shire’s Chief Financial Officer. He is also a member of Shire’s Executive Committee and was appointed to the Board of Directors on April 29, 2015.
Poulton has held leadership positions in finance supporting the Neuroscience, Gastrointestinal and Rare Diseases business units as well as the positions of Interim Chief Financial Officer and Head of Investor Relations.
In addition, Poulton oversaw the operations of the Rare Diseases business unit in North America, Latin America and Asia Pacific, as well as leading the integration of the legacy-Viropharma rare disease products into the Shire portfolio.
Prior to joining Shire, Poulton spent time at Cinergy Corp. and PPG Industries in a variety of corporate finance and business development roles, in addition to serving as a commissioned officer in the U.S. Navy.
He received a Bachelor of Arts in Economics from Duke University and a Master of Business Administration in Finance from the Kelly School of Business at Indiana University.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Jeff Poulton’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 35.2017 ($).