- Push-out Score determined
- After about three years in the position
- Praise and thanks for Walt
- Manuel Mendez taking over
- Walt kept it short and said 47 words
(exechange) — Jersey, Channel Islands, February 23, 2021 — Franz Walt, chief executive of Quotient, leaves. As announced by Quotient Ltd. in a news release on Tuesday, February 23, 2021, Franz Walt leaves his post as chief executive officer at the commercial-stage diagnostics company after about three years in the role, effective April 1, 2021.
Franz Walt’s duties as CEO will be taken over by Manuel O. Mendez, most recently Senior Vice President and Chief Commercial Officer of Quest Diagnostics.
The fact that Franz Walt’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
“He planned to serve only until we found the right candidate to take over as CEO”
Franz Walt’s departure from the CEO post is explained as follows. Heino von Prondzynski, Chairman of Quotient’s Board of Directors, said: “Franz, who is a very good friend, always said that he planned to serve only until we found the right candidate to take over as CEO.”
Precise information regarding Franz Walt’s future plans was not immediately available.
“Retiring”
Quotient said: “Franz Walt, who has served as the company’s CEO since 2018 is retiring.”
Share price increase since March 2018
The announcement follows an increase in Quotient Ltd.’s share price of 5% since March 2018. March 2018 is the month in which Walt’s tenure as CEO began.
Chaired by Heino von Prondzynski
Heino von Prondzynski serves as Quotient Ltd.’s Chairman.
Heino von Prondzynski served as chief executive officer of Roche Diagnostics and as a member of the executive committee of F. Hoffman-La Roche Ltd., a Swiss based healthcare company that develops diagnostics and therapeutic products, from early 2000 to 2006, retiring from Roche at the end of 2006.
In the position of CEO since 2018
Franz Walt became CEO of the Company in 2018.
Walt joined the Board in February 2018, was appointed Interim Chief Executive Officer in March 2018 and was subsequently appointed Chief Executive Officer in May 2018.
Walt served as President of Siemens Healthineers Laboratory Diagnostics, the laboratory diagnostics provider within the healthcare division of Siemens AG, the German based conglomerate, from March 2014 to December 2017.
From January 2012 to February 2014, Walt was the Senior Vice President and head of Siemens Healthineers’ Diagnostic Division North America.
Prior to joining Siemens Healthineers, from June 1989 to November 2011, Walt served in various capacities at F. Hoffman-La Roche Ltd., a Swiss based healthcare company that develops diagnostics and therapeutic products, including as Geschäftsführer (CEO) of Roche Diagnostics GmbH in Mannheim from January 2007 to November 2011, and as a board member of the Roche Diagnostic Executive Committee (DiaEC), from November 1998 to December 2006.
During his time as a board member of the DiaEC, Walt served, among other capacities, as President and Consejero Delegado (CEO) of Roche Diagnostics Spain and Regional President for the LATAM Region from October 2004 to December 2006, and as Managing Director of Roche Diagnostics Asia Pacific Pte Ltd. and Regional President for the APAC Region from November 1998 to September 2004.
Walt holds undergraduate degrees in management from the IMAKA Institute of Management in Zürich, and in marketing from the Swiss Institute of Economics in Zürich, and an MBA from City University of Seattle.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Franz Walt’s move on a scale of 0 to 10.
exechange reached out to Quotient and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 9.2021 ($).