- Push-out Score suggests push-out forces
- After almost five years on the job
- Accolades, praise and thanks for Thomas
- Anshooman Aga taking over
(exechange) — San Diego, California, July 11, 2017 — Jay Thomas, finance chief of Cubic, leaves. As announced by Cubic Corporation in a news release and in a regulatory filing published on Tuesday, July 11, 2017, John (Jay) Thomas leaves the post as Chief Financial Officer at the public transport company after almost five years on the job, effective October 01, 2017.
Thomas’ duties are taken over by Anshooman Aga, most recently CFO for the Design and Consulting Services business in the Americas at Aecom.
The fact that Thomas’ successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.
No reason given
In the announcement, Cubic did not explicitly explain the reason for Thomas’ move, leaving room for speculation.
Precise information about the future plans of Thomas was not immediately available.
Cubic said: “On July 11, 2017, John D. Thomas informed Cubic Corporation … that as part of his transition to retirement, he intends to step down from his position as Executive Vice President and Chief Financial Officer of the Company, on October 1, 2017, when his successor assumes that position.”
Share price decline
The change follows a decline in the share price of Cubic Corporation since May 2017.
Chaired by Walter C. Zable
Cubic Corporation is chaired by Walter C. Zable.
CEO: Bradley H. Feldmann
Bradley H. Feldmann serves as CEO of Cubic Corporation. Bradley H. Feldmann has served as president and chief executive officer of Cubic Corporation since July 2014.
On the job as CFO since 2013
John D. Thomas has been the Chief Financial Officer and Executive Vice President of Cubic Corporation since January 31, 2013.
Thomas joined Cubic in 1980 and held various financial positions during his long career at the company and has served as the Executive Vice President and Chief Financial Officer since 2013.
Prior to his current position, Thomas served as senior vice president Finance and Corporate Development.
Before joining Cubic, Thomas held positions at Aramark Corporation and Crocker Bank.
Thomas holds a certified public accountant license (inactive) in the state of California.
He received his Bachelor of Science Degree from San Diego State University and a Master of Business Administration from the University of San Diego.
Thomas will transition to an executive advisor role focused on corporate growth initiatives, effective October 1, 2017 through his retirement on October 1, 2018.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Jay Thomas’ 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 29.2017 ($).