- Push-out Score suggests push-out forces
- After almost twelve years in the position
- Thanks for Esposito-Mayer
- Michael Dugan taking over
(exechange) — Columbia, Maryland, November 22, 2017 — This news came the day before Thanksgiving Day. Sharon Esposito-Mayer, finance chief of GP Strategies, leaves. As announced by GP Strategies Corporation in a news release and in a regulatory filing published on Wednesday, November 22, 2017, Sharon Esposito-Mayer leaves the post as Chief Financial Officer at the management consultant company after almost twelve years in the position.
It is the end of an era.
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 19 percent of the CFOs who departed over the past twelve months left the position after more than ten years.
The exact date of Esposito-Mayer’s departure was not given in the announcement.
Esposito-Mayer’s duties are taken over by Michael Dugan, most recently Senior Vice President, Finance at GP Strategies Corporation.
GP Strategies Corporation still listed Esposito-Mayer as Executive Vice President and Chief Financial Officer on its leadership page.
Esposito-Mayer’s move is part of a management shake-up also involving the position of President.
“To pursue other interests”
The management change is explained as follows. GP Strategies said: “Michael Dugan has been appointed Chief Financial Officer, succeeding Sharon Esposito-Mayer, who is transitioning her role and will be leaving the company to pursue other interests.”
The phrase “to pursue other interests” opens the door to speculation.
Precise information about the future plans of Esposito-Mayer was not immediately available.
“Transition her duties and enter into a separation agreement”
GP Strategies said: “On November 20, 2017, Sharon Esposito-Mayer, Executive Vice President & Chief Financial Officer, and the Company agreed to transition her duties and enter into a separation agreement permitting her to pursue other opportunities.”
Share price decline
The change follows a decline in the share price of GP Strategies Corporation since October 27, 2017.
Chaired by Harvey P. Eisen
GP Strategies Corporation is chaired by Harvey P. Eisen.
Eisen has been the chairman of the board since April 2005 and has served on the Company’s board of directors since 2002.
CEO: Scott N. Greenberg
Scott N. Greenberg serves as CEO of GP Strategies Corporation. Scott N. Greenberg has been chief executive officer since April 2005 and was the president of the company from 2001 until February 2006.
In the position of CFO since 2005
Sharon Esposito-Mayer has been the Chief Financial Officer and Executive Vice President at GP Strategies Corp., since December 15, 2005.
She has been executive vice president since 2004 and was vice president of finance of General Physics from 2001 until 2004 and held various financial positions prior to joining General Physics in 1995.
Esposito-Mayer holds a Bachelor of Science degree in accounting from Pennsylvania State University and an MBA from Loyola College.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Sharon Esposito-Mayer’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 48.2017 ($).