- Push-out Score suggests push-out forces
- After 23 years on the job
- Praise and thanks for Uihlein
- David Maher taking over
(exechange) — Fairhaven, Massachusetts, September 25, 2017 — Wally Uihlein, chief executive of Acushnet, leaves. As announced by Acushnet Holdings Corp. in a news release and in a regulatory filing published on Monday, September 25, 2017, Walter R. (Wally) Uihlein leaves the post as Chief Executive Officer at the maker of golf products after 23 years on the job, effective January 01, 2018.
It is the end of an era.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, only 8 percent of the CEOs who departed over the past twelve months left after more than 20 years. Overall, the average tenure of those who left was 8.9 years, according to data compiled by exechange.
Uihlein’s duties are taken over by David Maher, currently Chief Operating Officer at Acushnet Holdings Corp.
No reason given
In the announcement, Acushnet did not explicitly explain the reason for Uihlein’s move, opening the door for speculation.
Precise information about the future plans of Uihlein was not immediately available.
Acushnet said: “Walter R. Uihlein, President and Chief Executive Officer … of Acushnet, has notified the Acushnet Board of Directors of his plan to retire, effective January 1, 2018.”
Chaired by Gene Yoon
Acushnet Holdings Corp. is chaired by Gene Yoon.
On the job as CEO since 1995
Uihlein started with Acushnet in 1976 and has been the senior golf executive since 1995.
Uihlein was appointed President and Chief Executive Officer of Acushnet Company in 1995 and was appointed President and Chief Executive Officer of Acushnet Holdings Corp. in May 2016.
Uihlein served as a member of the board of directors of Acushnet Company, the Company’s operating subsidiary, from 1984 to October, 2016, and has served on the Company’s board of directors since October 2016.
In 2005, Uihlein received the PGA of America’s Distinguished Service Award, the organization’s highest honor.
Uihlein will remain on the Acushnet Board of Directors and also become Advisor to the Chairman.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Wally Uihlein’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 40.2017 ($).