Ebix CFO Bob Kerris leaves post abruptly

  • Signs for push-out forces
  • After around nine years on the job
  • Sean Donaghy taking over
  • Kerris will remain as EVP at Ebix

(management-change.com) — Johns Creek, Georgia, January 03, 2017 — Bob Kerris, finance chief of Ebix, leaves the position. It is an abrupt change. As announced by Ebix, Inc in a regulatory filing published on Tuesday, January 03, 2017, Robert F. (Bob) Kerris leaves the post as Chief Financial Officer at the provider of software for the insurance industry in a surprising move after around nine years on the job, effective immediately.

Kerris’ duties are taken over by Sean T. Donaghy, most recently Chief Accounting Officer at Ebix, Inc.

No reason given

In the announcement, Ebix did not explicitly explain the reason for Kerris’ sudden move, opening the door for speculation.

Kerris will remain as EVP at Ebix

Robert Kerris, who has been the Company’s Chief Financial Officer since October 2007, has been appointed to the position of EVP-Corporate Officer of Mergers & Acquisitions and Special Projects.

Share price rise since October 2014

The change follows a rise in the share price of Ebix, Inc since October 2014.

Chaired by Robin Raina

Ebix, Inc is chaired by Robin Raina.

Raina was appointed President effective August 2, 1999, Chief Executive Officer effective September 23, 1999 and Chairman in May 2002.

On the job as CFO since 2007

Kerris joined Ebix as Chief Financial Officer and Corporate Secretary on October 22, 2007. As the Company’s Chief Financial Officer and principal accounting Officer, Kerris was responsible for all financial reporting and related internal disclosure controls. In addition, he oversaw Ebix’s financial planning and treasury functions, and was directly involved in the execution of the Company’s acquisition strategy.

Prior to joining Ebix, Kerris was Chief Financial Officer at Aelera Corporation.

He held this position from May 2006 to October 2007.

Previously he was a Financial Vice President at Equifax, Inc. from November 2003 to April 2006, Corporate Controller at Interland, Inc. from September 2002 to October 2003 and held senior financial management positions at AT&T, BellSouth, and Northern Telecom.

Kerris is a licensed certified public accountant and holds an accounting and economics degree with honors from North Carolina State University.

Signs for push-out forces

It is not completely certain what forces eventually triggered Bob Kerris’ move.

The Push-out Score™ determined by management-change.com suggests that push-out forces may have contributed to the management change.

Read the full story in the management-change.com report 02.2017 ($).