Fortive Announces Strategic Plans For Separation Into Two Independent Public Companies
Fortive Corp announced its strategic plans to separate into two independent public companies. The spin-off is expected to be completed in Q4 2025. The company reaffirmed its Q3 2024 and full-year 2024 outlook, and anticipates utilizing 75% of available free cash flow for incremental share repurchases. Upon the retirement of President and CEO James A. Lico, Olumide Soroye will assume the role, with CFO Chuck E. McLaughlin also set to retire by Q1 2025. The share repurchase program aims to enhance EPS growth in 2025.
Sept 4 (Reuters) - Fortive Corp (FTV.N) :
FORTIVE ANNOUNCES STRATEGIC PLANS FOR SEPARATION INTO TWO INDEPENDENT PUBLIC COMPANIES
FORTIVE CORP - REAFFIRMS Q3 2024 AND FULL-YEAR 2024 OUTLOOK
FORTIVE CORP - EXPECTS TRANSACTION TO BE COMPLETED IN Q4 2025
FORTIVE CORP - ANNOUNCES PLANS TO SEPARATE INTO TWO PUBLIC COMPANIES
FORTIVE CORP - AT COMPLETION OF SPIN-OFF, JAMES A. LICO WILL RETIRE AS PRESIDENT AND CEO AND AS A DIRECTOR
FORTIVE CORP - CHUCK E. MCLAUGHLIN WILL RETIRE AS CFO BY END OF Q1 OF 2025
FORTIVE - BETWEEN NOW &COMPLETION OF SPIN-OFF DEAL,CO EXPECTS TO UTILIZE ABOUT 75% OF AVAILABLE FREE CASH FLOW TO FUND INCREMENTAL SHARE REPURCHASES
FORTIVE CORP - UPON LICO’S RETIREMENT, OLUMIDE SOROYE, WILL BE APPOINTED AS PRESIDENT, CEO, AND A DIRECTOR OF FORTIVE
FORTIVE CORP: EXPECTS SHARE REPURCHASE PROGRAM WILL ENHANCE ITS EPS GROWTH IN 2025
