- Signs for push-out forces
- After around four years on the job
- Laud, praise, words of regret and good wishes for Crowe
- Search for a successor
(management-change.com) — Monaco, Monaco, January 16, 2017 — Simon Crowe, finance chief of GasLog, leaves. His departure is made public at an early stage. As announced by GasLog Ltd. and GasLog Partners LP in a news release on Monday, January 16, 2017, Simon Crowe leaves the post as Chief Financial Officer at GasLog, an owner of liquefied natural gas (LNG) carriers, in a surprising move after around four years on the job, effective June 30, 2017.
GasLog will undertake a search for a successor.
“I feel the time is now right for me to seek new challenges”
The management change is explained as follows. Simon Crowe said: “With the Company strategically and financially well positioned, I feel the time is now right for me to seek new challenges outside of GasLog and GasLog Partners.”
GasLog Ltd. and GasLog Partners LP said: “[F]ollowing a period of successful growth and the transformation of the Company, Simon Crowe has advised the Boards of both companies of his decision to step down from his position as Chief Financial Officer on June 30, 2017.”
Precise information about the future plans of Crowe was not immediately available.
Share price rise since January 2016
The change follows a rise in the share price of GasLog Ltd. since January 2016.
On the job as CFO since 2013
Simon Crowe has served as GasLog’s Chief Financial Officer since April 2013. He has also served as Chief Financial Officer of GasLog’s subsidiary GasLog Partners since its inception.
From 2009 until 2012, Crowe was chief financial officer of Subsea 7, an engineering, construction and services contractor to the offshore energy industry.
Subsea 7 is a global business, listed on the Norwegian Stock Exchange that employs 12,000 people and operates in over 15 countries.
Prior to 2009, Crowe worked for Transocean Ltd., the world’s largest offshore drilling contractor, most recently as vice president, strategy and planning, and prior to that as Finance Director for Transocean Ltd.’s Europe and Africa operations.
Crowe is a member of the Chartered Institute of Management Accountants.
Crowe holds a degree in physics from the University of Liverpool.
Generally speaking, when a top leader announces to step aside with no successor available, it’s a signal that the move was unplanned and too early.
Signs for push-out forces
It is not completely certain what forces eventually triggered Simon Crowe’s 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 04.2017 ($).