IHS Parts Company with CEO Scott Key

US-based energy and environment intelligence specialist IHS has transferred Chairman Jerre Stead to the role of Chief Executive Officer, following a mutual decision between the company and President & CEO Scott Key to 'end their relationship'.

Launched in 1959, IHS provides information services and forecasting to the aerospace and defence, automotive, chemical, energy, finance, maritime and technology sectors. Stead (pictured) was previously CEO, but became Executive Chairman two years ago when Key was appointed. Before joining the firm, Stead spent 21 years in a number of senior positions at Honeywell; then worked for Square D Company; was Chairman, President & CEO of AT&T; and worked at NCR Japan, Legent Corporation and Ingram Micro.

He takes over from Key, who worked for the company as SVP from 2003 to 2007, before leaving for President & COO roles at Jane's Information Group and Global Insight. He rejoined IHS in 2010, also as President and COO, and was promoted to President & CEO in 2013. Stead said the latest change had been 'mutually agreed' in the best interest of the company, adding that it had not been precipitated by any business issues, but 'was personal in nature'. Stead will begin the process of considering future CEO candidates in due course.

Commenting on the re-shuffle, Stead said: 'We recognize Scott's contributions to IHS, including leading transformation and growth across IHS operations globally. He led corporate marketing and strategic planning through the successful initial public offering of the company, and was intimately involved with the acquisition and integration of a full range of assets during his tenure with the company. Our priority now is to ensure the execution of our annual plan and deliver solidly against our guidance for the year.'

Web site: www.ihs.com .