- After almost 13 years on the job
- Praise for Hershberger
- Hershberger will remain as Chairman at PGT
- Hershberger spoke at length and said 134 words
(exechange) — N. Venice, Florida, October 12, 2017 — Rod Hershberger, chief executive of PGT, hands over the reins. As announced by PGT Innovations in a news release and in a regulatory filing published on Thursday, October 12, 2017, Rodney (Rod) Hershberger leaves the post as Chief Executive Officer at the maker of windows and doors after almost 13 years on the job, effective December 31, 2017.
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 37 percent of the CEOs who departed over the past twelve months left after more than ten years. Overall, the average tenure of those who left was 9 years, according to data compiled by exechange.
Hershberger’s duties are taken over by Jeff Jackson, currently Chief Operating Officer at PGT Innovations.
“Consistent with our succession planning”
The management change is explained as follows. PGT Innovations Chairman and CEO, Rod Hershberger, said: “Consistent with our succession planning, we’ve promoted from within a demonstrated leader at a time when PGT Innovations is in a strong position.”
Hershberger will remain as Chairman at PGT
“Rod Hershberger, who is retiring as CEO, will continue to serve as the Chairman of the Board of Directors,” PGT said.
Share price rise since January 2012
The change follows a rise in the share price of PGT Innovations since January 2012.
On the job as CEO since 2005
Hershberger, a co-founder of the Company, has served the Company for nearly 40 years.
Hershberger was named President and Director in 2004 and became the Company’s Chief Executive Officer in March 2005.
In 2003, Hershberger became Executive Vice President and Chief Operating Officer and oversaw the Company’s Florida and North Carolina operations, sales, marketing, and engineering groups.
Previously, Hershberger led the manufacturing, transportation, and logistics operations in Florida and served as Vice President of Customer Service.
Read the full story in the exechange report 42.2017 ($).