- Push-out Score suggests push-out forces
- After about eight years on the job
- Praise and thanks for Tardio
- Search for a successor
- Tardio said 60 words
(exechange) — Tulsa, Oklahoma, September 28, 2017 — Juan Pablo Tardio, finance chief of Helmerich & Payne, leaves the position. As announced by Helmerich & Payne, Inc. in a news release and in a regulatory filing published on Thursday, September 28, 2017, Juan Pablo Tardio, Chief Financial Officer, leaves the drilling oil and gas wells company after about eight years on the job, effective in June of 2018.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CFOs who departed over the past twelve months was 5.6 years, according to data compiled by exechange.
Tardio will continue to serve in his current role until a successor is identified and has an opportunity to effectively transition into that position.
Helmerich & Payne will undertake a search for a successor.
“I also reflect on personal life pursuits”
The management change is explained as follows. Tardio said: “As I also reflect on personal life pursuits, however, I believe that the time is right for me to retire.”
Precise information about the future plans of Tardio was not immediately available.
Helmerich & Payne said: “Juan Pablo Tardio, Vice President and Chief Financial Officer, has informed the Company of his intention to retire in June of 2018.”
Share price decline
The change follows a decline in the share price of Helmerich & Payne, Inc. since July 2014.
Chaired by Hans Helmerich
Helmerich & Payne, Inc. is chaired by Hans Helmerich.
CEO: John W. Lindsay
John W. Lindsay serves as CEO of Helmerich & Payne, Inc. John W. Lindsay has been the Chief Executive Officer and President of Helmerich & Payne, Inc. since March 5, 2014 and September 2012 respectively.
On the job as CFO since 2010
Tardio will be retiring after 17 years with the organization.
Tardio joined the Company in 2001 and has been Chief Financial Officer since 2010.
Juan Pablo Tardio has been the Chief Financial Officer and Vice President of Helmerich & Payne, Inc. since April 30, 2010.
Tardio began his H&P career in 2001 and took responsibility for investor relations in 2005.
Tardio served as Director of Investor Relations in January of 2008.
Tardio is a graduate of the University of Houston with a Bachelor of Science degree in Industrial Engineering as well as a Master of Business Administration.
Generally speaking, when a top leader announces to step down with no successor available, it is a signal that the change was unplanned and too early.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Juan Pablo Tardio’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 41.2017 ($).