Fortive Corp - FTV STOCK NEWS

Fortive (NYSE: FTV) has appointed Mark Okerstrom as Chief Financial Officer, effective March 24, 2025. He will succeed Chuck E. McLaughlin, who will retire as CFO but continue in a non-executive role through year-end to ensure smooth transition.

Okerstrom brings extensive experience from his 13-year tenure at Expedia Group, where he served in various executive roles including CFO, EVP of Operations, and ultimately CEO. As Expedia's CFO for 6 years, he managed finance, corporate strategy, and M&A. He was recognized among Top 3 CFOs in the Internet sector by Institutional Investor Magazine for three consecutive years (2016-2018).

The appointment follows a comprehensive search process. Okerstrom, who holds an MBA from Harvard Business School and a JD from the University of British Columbia, will be based at Fortive's headquarters in Everett, Washington. The company expects his expertise in profitable growth, innovation, and capital allocation to contribute significantly to Fortive's strategic initiatives.

Fortive (NYSE: FTV) has appointed Gregory Moore, M.D., Ph.D. to its Board of Directors, effective February 26, 2025, expanding the board from nine to ten members. Dr. Moore will serve on both the Compensation Committee and Nominating and Governance Committee.

Moore brings over 20 years of healthcare experience and expertise in AI and digital transformation. He previously served as Corporate Vice President of Microsoft Health & Life Sciences (2019-2023) and Vice President and Founder of Google Cloud Healthcare & Life Sciences (2016-2019). Currently, he serves as a Senior Advisor to Gates Ventures and Associate Fellow at Stanford University's Center for Artificial Intelligence in Medicine and Imaging.

The appointment aligns with Fortive's focus on accelerating innovation velocity and AI-powered growth strategies. Moore, who holds a PhD from MIT and MD from Wayne State University, is board certified in Diagnostic Radiology, Neuroradiology, and Clinical Informatics.

A new Fluke survey of over 400 EV charger manufacturers and technicians across the UK, USA, Germany, and Netherlands reveals significant insights about the EV industry's current state. While 68% of respondents acknowledge the industry is behind the adoption curve, 92% remain confident in current standards and regulations for long-term success.

Key findings show that 47% believe the industry is 25-50% behind the adoption curve, with 40% of U.S. respondents predicting widespread charger availability won't meet demand for up to seven years. Major challenges identified include: inoperable chargers (44%), software incompatibility (40%), and charger maintenance (36%).

The survey also revealed that 88% of respondents noted a critical skills gap in the EV workforce. For successful EV charging strategies, respondents emphasized predictive maintenance (32%) and artificial intelligence (31%) as essential components.

Fortive (NYSE: FTV) has announced its participation in the upcoming Barclays Industrial Select Conference. The company will be represented by James A. Lico, President and Chief Executive Officer, and Olumide Soroye, President and Chief Executive Officer of Intelligent Operating Solutions and Advanced Healthcare Solutions.

The presentation is scheduled for Wednesday, February 19th, 2025, at 10:25 a.m. ET (7:25 a.m. PT). Interested parties can access the audio presentation through a simultaneous webcast, which will be archived on www.fortive.com for future reference.

Fortive (NYSE: FTV) has announced its participation in the upcoming Citi Global Industrial Tech and Mobility Conference. The company will be represented by James A. Lico, President and Chief Executive Officer, and Tami Newcombe, President and Chief Executive Officer of Precision Technologies (PT).

The presentation is scheduled for Tuesday, February 18th, 2025, at 8:50 a.m. ET (5:50 a.m. PT). The event will feature a simultaneous audio webcast, which will be available and archived on the company's website at www.fortive.com.

Fortive (NYSE: FTV) reported strong Q4 and full-year 2024 results, with Q4 revenues increasing 2% year-over-year to $1.62 billion, including 2% core revenue growth. Q4 GAAP diluted EPS was $0.60, while adjusted diluted EPS reached $1.17, up 19% year-over-year. Operating cash flow was $502 million with free cash flow of $465 million, up 13% year-over-year.

For full-year 2024, revenues grew 3% to $6.23 billion with 1% core revenue growth. The company reported net earnings of $833 million and adjusted net earnings of $1.37 billion. Full-year diluted EPS was $2.36, with adjusted diluted EPS at $3.89.

Looking ahead to 2025, Fortive expects Q1 revenue between $1.48-1.51 billion and full-year revenue of $6.23-6.35 billion. The company is progressing with its planned separation of the Precision Technologies segment into Ralliant, expected to close early Q3'25.

Fortive (NYSE: FTV) announced that its Precision Technologies segment will be separated as a new independent public company named Ralliant . The company will focus on precision technologies for test and measurement, specialty sensors, and aero, defense, and space subsystems.

Ganesh Moorthy, former CEO of Microchip Technology, will join as the independent Board Chair, while Fortive board members Alan G. Spoon and Kate D. Mitchell will serve as independent directors. Tami Newcombe will lead as President and CEO of Ralliant.

The company name combines 'rally' and 'valiant,' reflecting their customer-focused approach and commitment to technological innovation. Fortive will provide an update on the separation timing during its Q4 and full-year 2024 earnings call scheduled for February 7th, 2025.

Fortive (NYSE: FTV) announced a significant leadership transition in its Board of Directors. Sharmistha 'Shar' Dubey has been appointed as the new Chair of the Board, succeeding Alan G. Spoon, who will retire and not seek reelection at the June 2025 Annual General Meeting.

Dubey, who has served as a Director since 2020 and participated in the Nominating and Governance and Compensation Committees, brings extensive executive leadership experience, including her role as CEO of Match Group from 2020 to 2022. The transition comes as Fortive approaches the previously announced separation of its Precision Technologies segment.

The company's CEO, James A. Lico, emphasized Dubey's integral role in Fortive's strategic evolution over the past five years and her deep understanding of the business. Dubey currently serves on the boards of Match Group, Prosus, and Naspers

Fortive (NYSE: FTV) has announced that its Board of Directors has declared a regular quarterly cash dividend of $0.08 per share of common stock. The dividend will be payable on March 28, 2025, to stockholders of record as of February 28, 2025. While the company anticipates continuing quarterly dividend payments, future declarations, including amounts, record dates, and payment dates, remain subject to Board discretion.