August is the first month in a long time where executive turnover showed significant declines from the same month a year earlier (August 2013) and from the previous month (July 2014). It is likely, the latest drop in Liberum Research's executive turnover numbers is a momentary blip. Liberum expects turnover in September to increase significantly and to continue growing throughout most of the Fall. As has so often been the case, the drop in executive turnover for August coincided with a similar drop in August for job growth as measured by the U.S. Bureau of Labor Statistics and by ADP's August employment Report.
Liberum Comparison Breakdown of Key August Executive Turnover
Below is a breakdown of Liberum's key executive category percentage changes for August 2014 compared with August a year earlier and the previous month of July 2014.
- For August 2014 declines in turnover took place in three key categories. CEO changes declined 24% from August a year earlier, C-level changes declined 20%, and board of director changes declined 25%. CFO changes on the other hand, increased a mere 1%.
- The month to month change in executive turnover (July 2014 to August 2014) also showed significant declines in three of the four key categories. CEO changes declined 30% for CEOs, C-level changes declined 26%, and board of director changes declined 29%. CFO changes on the other hand, increased 32%.
Below are the overall turnover totals for August. The information is just illustrative of how institutional investors could view executive turnover and its possible relationship with a company's performance. Using Liberum's database could offer a totally new perspective on investment and is a potential way to come up with unique special situation opportunities. Executive search firms on the other hand can use the information to generate new leads and new clients.
Call now (212-988-5497) or email richard@twst.com and get a no obligation one week trial to Liberum's online management change database.
KEY CEO CHANGES - AUGUST 2014
63 COMPANIES WITH CEO CHANGES WORTH RE-EXAMINING
63 COMPANIES WITH CEO CHANGES WORTH RE-EXAMINING
According to Liberum's Management Change Database, a total of 157 CEO related changes occurred during August 2014. Here are 63 from the time period that caught my eye. By significant, I'm looking for situations where I think a particularly strong or weak choice has been made - given the apparent current state of the company - or where there is an interesting special situation. (Anyone using Liberum's database could do the same kind of analysis for other key titles, e.g., CFOs, COOs, CMOs Presidents, etc.)
DATE COMPANY TICKER EXCHANGE MARKET CAP $ MILLIONS
08-01 Xiangtian Usa Air GOAS OTC 971
08-04 Brady Corporation BRC NYSE 1306
08-04 Cafepress Inc. PRSS NASDAQ 87
08-04 DST Systems, Inc. DST NYSE 3595
08-04 ITT Educational Services, Inc. ESI NYSE 186
08-04 Southwest Gas Corporation SWX NYSE 2256
08-04 Synacor, Inc. SYNC NASDAQ 66
08-04 Vantage Health VNTH OTC 17
08-04 Vystar Corp VYST OTC 5
08-05 Dara Biosciences DARA NASDAQ 11
08-05 Rex Bionics RXB SEA
08-06 Sage Grp Plc Unsp SGPYY OTC 6876
08-06 Sprint Nextel Corporation S NYSE 23275
08-06 Theravance, Inc. THRX NASDAQ 2478
08-07 Bcb Bancorp, Inc. BCBP NASDAQ 108
08-07 Cleveland-Cliffs Inc CLF NYSE 2618
08-07 Cortendo Ab CRTOF OTC 57
08-07 Nanometrics Incorporated NANO NASDAQ 398
08-08 Axion Intl Hldgs AXIH OTC 20
08-08 GNC Corporation GNC NYSE 3091
08-11 Bemis Company, Inc. BMS NYSE 3982
08-11 Citizens & Northe CZNC NASDAQ 241
08-11 ConAgra Foods, Inc. CAG NYSE 13279
08-11 Demand Media Inc. DMD NYSE 167
08-11 Destination Mater DEST NASDAQ 266
08-11 Empire Global Gam EPGG OTC 974
08-11 Lmi Aerospace Inc. LMIA NASDAQ 187
08-12 Capital Product P CPLP NASDAQ 973
08-12 Equal Energy Ltd EQU TORONTO 215
08-12 Gncc Capital, Inc GNCP OTC 20
08-12 Manitoba Telecom MOBAF OTC 2190
08-12 Serco Group SRP LONDON 15
08-12 Spark Networks plc (ADR) LOV NYSE 133
08-13 Alternative Energ ALNE OTC 36
08-13 CDI Corp. CDI NYSE 282
08-13 Ezcorp Inc EZPW NASDAQ 525
08-13 Platforms Wireles PLFM OTC 306
08-15 Cms Bancorp, Inc. CMSB NASDAQ 21
08-15 Decisionpoint Sys DPSI OTC 4
08-15 Hallmark Financial Services, Inc. HALL NASDAQ 188
08-18 Aeropostale, Inc. ARO NYSE 308
08-18 Dollar General Corp. DG NYSE 19339
08-18 Eniro ENRO STO
08-18 Kennametal Inc. KMT NYSE 3509
08-18 Mechel OAO (ADR) MTL NYSE 762
08-19 Gordmans Stores GMAN NASDAQ 65
08-19 Imperva, Inc. Com IMPV NYSE 770
08-19 Urologix, Inc. ULGX OTC 3
08-20 Polonia Bancorp, PBCP NASDAQ 46
08-21 Aaron's, Inc. Com AAN NYSE 1838
08-21 Ixia XXIA NASDAQ 752
08-21 Petlife Pharmaceu EVGID OTC
08-22 Landauer, Inc. LDR NYSE 342
08-22 NTN Buzztime Inc. NTN NYSE 40
08-22 Rightscorp, Inc RIHT OTC 26
08-25 The Bon-Ton Stores, Inc. BONT NASDAQ 226
08-26 Single Touch Syst SITO OTC 57
08-26 Telecity Group Pl TLEIY OTC 2679
08-26 Western Graphite WSGP OTC 595
08-27 Pandora Media, In P NYSE 5509
08-27 Xzeres Corp XPWR OTC 15
08-28 Era Group Inc. ERA NYSE 522
08-29 Donegal Group, In DGICA NASDAQ 420
08-29 Neutra Corp NTRR OTC 4
AUGUST 2014 MANAGEMENT CHANGE STATISTICS
C-LEVEL MANAGEMENT CHANGE STATISTICS
GRAND TOTAL - 1157
GRAND TOTAL - 1157
TOP INDUSTRY SECTORS
> Drugs/Biotech - 131> Energy - 101
> Banking - 73
> Banking - 73
AUGUST 2014 CEO CHANGE STATISTICS
GRAND TOTAL - 157
GRAND TOTAL - 157
TOP INDUSTRY SECTORS
> Drugs/Biotech - 16
> Retail - 12> Banking - 9
> Business Services - 9
> Business Services - 9
AUGUST 2014 CFO CHANGE STATISTICS
GRAND TOTAL - 158
GRAND TOTAL - 158
TOP INDUSTRY SECTORS
> Energy - 30
> Drugs/Biotech - 28
> Banking - 12
> Drugs/Biotech - 28
> Banking - 12
AUGUST 2014 BOARD OF DIRECTOR CHANGE STATISTICS
GRAND TOTAL - 395
GRAND TOTAL - 395
TOP INDUSTRY SECTORS
> Drugs/Biotech - 43
> Energy - 35
> Business Services - 27
> Energy - 35
> Business Services - 27
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