Flir CFO Amit Singhi leaves at short notice

  • Push-out Score suggests signs for push-out forces
  • After two years on the job
  • Praise, thanks and good wishes for Singhi
  • Shane Harrison taking over in the interim
  • Singhi kept it short and said 28 words

(exechange) — Wilsonville, Oregon, June 09, 2017 — Amit Singhi, finance chief of Flir, leaves. It is a change at short notice. As announced by FLIR Systems, Inc. in a news release on Friday, June 09, 2017, Amit Singhi leaves the post as Chief Financial Officer at the maker of sensor systems in a surprising move after two years on the job, effective July 31, 2017.

No company wants a CFO to flame out in the first years.

Singhi’s duties are taken over in the interim by Shane Harrison, currently Senior Vice President, Corporate Development and Strategy at FLIR Systems, Inc.

“Personal decision”

The imminent management change is explained as follows. FLIR President and CEO Andy Teich said: “We respect Amit’s personal decision.”

The phrase “personal decision” opens the door to speculation.

Precise information about the future plans of Singhi was not immediately available.

Alarm signal

Generally speaking, it is often an alarm signal for stockholders when a CFO leaves the position at short notice and without an understandable explanation.

“Resigned”

Flir said: “Amit Singhi, Senior Vice President, Finance and Chief Financial Officer, has resigned effective July 31, 2017.”

Share price rise since November 2015

The change follows a rise in the share price of FLIR Systems, Inc. since November 2015.

Chaired by Earl R. Lewis

FLIR Systems, Inc. is chaired by Earl R. Lewis.

CEO: Andrew C. Teich

Andrew C. Teich serves as CEO of FLIR Systems, Inc. Teich has been President and Chief Executive Officer of the Company since May 2013.

Unexpected

As a general rule, when a top manager announces to step down with no permanent successor available, it is a signal that the move was unexpected and too early.

Push-out Score suggests signs for push-out forces

It is not completely certain what forces eventually triggered Amit Singhi’s imminent 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 24.2017 ($).