- After less than a year and a half in the position
- Praise for Huston
- Lee Shavel taking over
(exechange) — Jersey City, New Jersey, November 16, 2017 — Eva Huston, finance chief of Verisk, leaves. It is an abrupt change. As announced by Verisk Analytics, Inc. in a news release and in a regulatory filing published on Thursday, November 16, 2017, Eva F. Huston has already left the post as chief financial officer at the data analytics and risk assessment firm after less than a year and a half in the position, effective November 14, 2017.
No company wants a CFO to flame out in the first years.
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 5.7 years, according to data compiled by exechange. Only 21 percent of the CFOs who departed over the past twelve months left the position within two years, and 37 percent left the position within three years.
Huston’s move comes 20 months after Scott Stephenson took over as chairman of Verisk Analytics, Inc.
Huston’s duties are taken over by Lee Shavel, a former chief financial officer at Nasdaq, Inc.
The fact that Huston’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
“Pursue opportunities outside Verisk”
Huston’s sudden departure from the post of CFO is explained as follows. Verisk said: “Eva Huston, senior vice president, will pursue opportunities outside Verisk following a three-month period transitioning responsibilities to Shavel.”
The phrase “pursue opportunities outside Verisk” opens the door to speculation.
Precise information about the future plans of Huston was not immediately available.
“Will no longer serve”
Verisk said: “Eva F. Huston will no longer serve as Chief Financial Officer of the Company.”
Share price rise since September 2010
The change follows a rise in the share price of Verisk Analytics, Inc. since September 2010.
Chaired by Scott Stephenson
Verisk Analytics, Inc. is chaired by Scott Stephenson.
Scott G. Stephenson has been the Company’s Chief Executive Officer since April 2013 and has been the Company’s President since March 2011. Stephenson has also served on the Company’s Board of Directors since April 2013 and effective April 1, 2016, Stephenson was appointed to serve as the Chairman of the Company’s Board.
In the position of CFO since 2016
Eva F. Huston served as Chief Financial Officer at Verisk Analytics, Inc. since June 6, 2016.
Eva F. Huston joined the company in 2009 as head of Investor Relations, playing an important role in Verisk’s initial public offering of equity.
She was appointed treasurer in 2011 and led the company’s initial public debt issuance.
She assumed additional operational responsibilities in 2012 and 2013 and served as chief knowledge officer.
Huston was named chief financial officer in 2016.
Huston was responsible for Verisk’s corporate financial functions, including accounting, financial processes and systems, financial planning and analysis, and tax reporting.
She oversaw Verisk’s financial strategy, including the company’s treasury functions, investor relations, and capital structure.
Huston also worked closely with Verisk businesses to develop strategic plans, acquisition strategies, and product development initiatives.
She led Verisk’s relationships with the debt and equity investment communities, including both buy-side institutional investors and sell-side research analysts.
Before joining Verisk, Huston held the title of managing director in telecom, media, and technology investment banking at J.P. Morgan, where she was responsible for the marketing and information services practice.
Her client base included companies providing data and analytics to a variety of industry verticals, such as consumer and media, financial services, insurance, and automotive.
Huston raised more than $25 billion in equity and debt financing for her clients and advised clients on significant sector acquisitions.
Huston is a graduate of Georgetown University, where she earned a bachelor of science degree in foreign service with a concentration in international politics.
She specialized in Russian area studies.
Read the full story in the exechange report 47.2017 ($).