Newmar ceo news

[sheridany]

Brian Hazelton who took over 2 months ago from Matt Miller as CEO is leaving “to pursue other opportunities” effective Friday. The CFO is the interim executive leader while they search for his replacement.

 

[redbaron]

Your getting information pretty quickly!! I don't see it posted in any of the normal sources.

Who is the interim Executive Leader ?

 

[FLSteve]

WOW ... I wonder what the "rest of the story" is ??

FLSteve

 

[sheridany]

Your getting information pretty quickly!! I don't see it posted in any of the normal sources.

Who is the interim Executive Leader ?

Joe Shoemaker is the name I heard.

 

[Neemer]

That’s troubling.

 

[Neemer]

His wife must have really hated Nappanee.

 

[redbaron]

Here is the Form 8-K announcement:

Search - MarketWatch

Search MarketWatch for the latest financial news and market data.

www.marketwatch.com

This sounds really fishy. He gave 4 days notice. That is not normal.

 

[sheridany]

I would not read into this as a bad sign. I don’t know anymore than anyone else but my perspective is the following:

1) Good leaders are in demand and given the timing I would venture to guess that he was already in negotiations with wherever he is going when he was asked to take the ceo job at Newmar. I would also guess it was a really attractive opportunity when you look at the scope of responsibility, compensation, geography etc.

2) Good companies are constantly evaluating their bench strength and have progression plans for the top leaders. I would guess they would look internally first and if no one was deemed ready, they would look outside and retain executive search to facilitate a short list of candidates. They won’t put a rookie in charge, and more than likely select a seasoned executive ready for their next step up. A lot of effort and careful deliberation takes place when they make decision like this has been my experience.

I could be completely wrong but that’s my speculative guess.

 

[MapNerd]

Here is the Form 8-K announcement:

Search - MarketWatch

Search MarketWatch for the latest financial news and market data.

www.marketwatch.com

This sounds really fishy. He gave 4 days notice. That is not normal.

That link goes to MarketWatch Overview. Couldn’t find the 8k report there but here is a direct link: Winnebago Industries 8K Departure of Directors or Certain Officers | WGO 3 Nov 21

 

[Jim]

The only thing that amazes me, it that it amazes so many of you.

 

[Old-RV'er]

Money talks and BS Walks. Any questions?

 

[sheridany]

This sounds really fishy. He gave 4 days notice. That is not normal.

I agree it is not normal and we may never know the truth that he wanted to put a giant W ornament on the roofline. Just kidding. My experience has been that if you have a senior position in a company, they sometimes will ask you to leave even same day (especially if going to a competitor) or accelerate the departure to the end of the week. Two reasons sometimes are to prevent poaching key employees once the departure is public information and or prevent copying photographing sensitive documents which of course can happen long before the departure. Every company deals with it differently. Hopefully the impact is irrelevant and they continue to deliver coaches and keep their customers satisfied.

 

[redbaron]

I agree it is not normal and we may never know the truth that he wanted to put a giant W ornament on the roofline. Just kidding. My experience has been that if you have a senior position in a company, they sometimes will ask you to leave even same day (especially if going to a competitor) or accelerate the departure to the end of the week. Two reasons sometimes are to prevent poaching key employees once the departure is public information and or prevent copying photographing sensitive documents which of course can happen long before the departure. Every company deals with it differently. Hopefully the impact is irrelevant and they continue to deliver coaches and keep their customers satisfied.

Yes, your points make sense.

I don't think this will have any impact on Newmar. I don't think he was there long enough.

 

[Old Bubblehead]

I doubt there was any true transfer of information or methodology that occurred in his overlap period with Miller while they overlapped. The timing was based on laws in place to maintain continuity in acquisition periods. I hate turnovers, when i am incoming I want the incumbent to move on, when I am being relieved I want to hand over the keys and not be a distraction.
Equally, he was not in chair long enough to have a meaningful impact on the current operations. Winne is large enough that they likely have a bench of high caliber talent in development, I'm sure next person up will be from within. There will certainly be changes in Newmar as the fully integrate into the corporate umbrella. What those will be, we will all have to wait and see. Doesn't always have to be a turn for the worse, there may be improvements as well.
That a corporate hot shot was looking out for themselves and jumped ship for a more personally desirable role should not surprise any one. The eat their young at that level. He could have been upset he didn't get a more senior role in Winne he wanted, or like others have mentioned Nappanee may not have worked for his family.

 

[FLSteve]

My experience has been that if you have a senior position in a company, they sometimes will ask you to leave even same day (especially if going to a competitor) or accelerate the departure to the end of the week. Two reasons sometimes are to prevent poaching key employees once the departure is public information and or prevent copying photographing sensitive documents which of course can happen long before the departure.

@sheridany ... all this is very true. When a person decided to leave the company I was with, we really did not want them hanging around in the hallways telling everybody else how great of a company they were going to or the better deal they were getting etc., etc.

FLSteve