- After less than a year and a half on the job
- Ken Gayron taking over in the interim
- Search for a successor
(management-change.com) — Atlanta, Georgia, January 11, 2017 — Marc Zionts, chief executive of Numerex, leaves. As announced by Numerex Corp in a news release on Wednesday, January 11, 2017, Marc Zionts leaves the post as Chief Executive Officer at the provider of managed machine-to-machine communication in a surprising move after less than a year and a half on the job.
No company wants a CEO to flame out in the first years.
The exact date of Zionts’ departure was not given in the announcement. Obviously, it was an abrupt change.
Numerex has already removed the name of Zionts from the leadership page.
Numerex will undertake a search for a successor.
Zionts’ duties are taken over in the interim by Ken Gayron, currently Chief Financial Officer at Numerex Corp.
The move is part of a management shake-up.
In addition, Kelly Gay has agreed to join Numerex as its Chief Operating Officer.
No reason given
In the announcement, Numerex did not explicitly explain the reason for Zionts’ move, leaving room for speculation.
Generally speaking, it is often an alarm signal for stockholders when a CEO leaves the position with no date given and without an understandable explanation.
Numerex said: “Numerex Corp … today announced that its Board of Directors has terminated the employment of Marc Zionts as Chief Executive Officer.”
“Not related to any Company accounting, internal controls, or financial reporting matter”
“Mr. Zionts’ termination was not related to any Company accounting, internal controls, or financial reporting matter,” Numerex said.
It is a phrase that may be intended to prevent false rumors. It may also fuel further speculation and raise more questions than it answers.
Such a phrase should be read very carefully. The exact wording may be insightful.
Precise information about the future plans of Zionts was not immediately available.
Share price decline
The change follows a decline in the share price of Numerex Corp since February 2014.
Chaired by Stratton J. Nicolaides
Numerex Corp is chaired by Stratton J. Nicolaides.
Stratton J. Nicolaides is a co-founder of Numerex. He served as Chief Operating Officer from April 1999 until March 2000, as Chief Executive Officer of the Company from April 2000 until August 2015, and as Chairman of the Board from December 1999 until December 2015. In January, 2016, Nicolaides was named non-Executive Chairman of the Board of Directors.
On the job as CEO since 2015
Marc Zionts became CEO of Numerex in September, 2015.
Zionts, a telecom executive and entrepreneur for over three decades, focused on developing emerging technologies and services companies in high growth markets.
Zionts has previously led 6 companies since 1987, resulting in 5 trade sales and 1 IPO.
Most recently, he was President and CEO of Aicent, which was sold to Syniverse.
Prior to starting his first company in 1987, Zionts worked for GTE.
Zionts has a Bachelor’s and Master’s degree in Management from the Georgia Institute of Technology and remains active as an Alumni Mentor.
Zionts is also an Independent Board Director for Pivot 3, TEOCO, and Friends of the Earth, a Washington D.C. based environmental group.
Zionts is married with 4 adult children and is an avid outdoorsman and an accomplished bicycle racer on both the road and velodrome.
Read the full story in the management-change.com report 03.2017 ($).