- Push-out Score suggests push-out forces
- After almost twelve years on the job
- Accolades, praise, thanks and good wishes for Estes
- John Goodey taking over
- Estes said 47 words
(exechange) — Toledo, Ohio, October 03, 2017 — Scott Estes, finance chief of Welltower, leaves. It is an abrupt change. As announced by Welltower Inc. in a news release and in a regulatory filing published on Tuesday, October 03, 2017, Scott A. Estes leaves the post as Chief Financial Officer at the real estate investment trust after almost twelve years on the job, effective immediately.
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 17 percent of the CFOs who departed over the past twelve months left after more than ten years. Overall, the average tenure of those who left was 5.6 years, according to data compiled by exechange.
Estes’ duties are taken over by John Goodey, most recently Senior Vice President – International at Welltower Inc.
Estes’ move is part of a management shake-up.
“To pursue other opportunities”
The sudden management change is explained as follows. Welltower said: “John Goodey has been named Executive Vice President and Chief Financial Officer to succeed Scott Estes, who is leaving Welltower to pursue other opportunities.”
The phrase “to pursue other opportunities” opens the door to speculation.
Precise information about the future plans of Estes was not immediately available.
Generally speaking, it is often an alarm signal for stockholders when a CFO leaves the post abruptly and without a reasonable explanation.
Chaired by Jeffrey H. Donahue
Welltower Inc. is chaired by Jeffrey H. Donahue.
Donahue has served as Chairman since April 2014.
CEO: Thomas J. Derosa
Thomas J. Derosa serves as CEO of Welltower Inc. Thomas J. DeRosa has been the Chief Executive Officer of Welltower Inc. since April 13, 2014.
On the job as CFO since 2006
Estes has served as Executive Vice President – Chief Financial Officer of the Company since January 2009.
Estes served as Senior Vice President and Chief Financial Officer of the Company from March 2006 to January 2009 and as Vice President of Finance of the Company from April 2003 to March 2006.
From January 2000 to April 2003, Estes served as a Senior Equity Research Analyst and Vice President with Deutsche Bank Securities.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Scott Estes’ 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 41.2017 ($).