- Push-out Score suggests push-out forces
- After around two years on the job
- Accolades, praise and thanks for Doyle
- Cliff Adlerz taking over in the interim
- Search for a successor
(exechange) — Nashville, Tennessee, September 07, 2017 — Mike Doyle, chief executive of Surgery Partners, leaves. It is an abrupt change. As announced by Surgery Partners, Inc. in a news release on Thursday, September 07, 2017, Michael Thomas (Mike) Doyle leaves the post as Chief Executive Officer at the healthcare services company after around two years on the job, effective immediately.
No company wants a CEO to flame out in the first years.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, only 22 percent of the CEOs who departed over the past twelve months left within three years. Overall, the average tenure of those who left was 8.7 years, according to data compiled by exechange.
Surgery Partners will undertake a search for a successor.
Doyle’s duties are taken over in the interim by Cliff Adlerz, most recently President at Symbion Healthcare.
The fact that Doyle’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.
No reason given
In the announcement, Surgery Partners did not explicitly explain the obviously compelling reason for Doyle’s sudden move, leaving room for speculation.
Precise information about the future plans of Doyle was not immediately available.
Generally speaking, it is often an alarm signal for stockholders when a CEO leaves the post abruptly and without a reasonable explanation.
Surgery Partners said: “Mr. Adlerz succeeds Michael Doyle, who is stepping down from his role.”
Share price decline
The change follows a sharp decline in the share price of Surgery Partners, Inc. since August 09, 2017.
On the job as CEO since 2015
Michael Thomas Doyle has been the Chief Executive Officer at Surgery Partners, Inc. since April 2015.
Prior to joining the company in 2004, he served as SVP of operations for HealthSouth.
He brings 20-plus years of experience in development, service line expansion and management of a wide variety of healthcare services.
Doyle will maintain his position as a Director on the Board.
Generally speaking, when a top manager announces to step down with no permanent successor available, it’s a sign that the move was unplanned and too early.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Mike Doyle’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 37.2017 ($).