Fortive Appoints Mark Okerstrom Chief Financial Officer
Mr. Okerstrom is an accomplished executive with a strong track record of shareholder value creation as a public company CFO, with demonstrated experience in accelerating profitable organic growth and deep expertise in disciplined capital allocation and bolt-on M&A strategies. Over the course of more than 13 years at Expedia Group, Inc. Mark held a variety of senior executive roles including SVP of Corporate Development, where he oversaw Expedia’s corporate strategy and M&A activity globally, Chief Financial Officer, EVP of Operations and ultimately President and CEO. As CFO, a role he held for 6 years before being promoted to CEO, Mark had responsibility for all aspects of finance, including planning and analysis, accounting, tax, treasury, internal audit, procurement, real estate and investor relations, as well as corporate strategy and M&A. Mr. Okerstrom was recognized by Institutional Investor Magazine as one of the Top 3 public company CFOs in the Internet sector for three consecutive years (2016, 2017, and 2018). He holds an MBA from Harvard Business School and a JD from the University of
James A. Lico, President and Chief Executive Officer, stated, “We are fortunate to have a leader of Mark’s acumen and caliber step into the CFO role at Fortive, following a thoughtful and thorough search to identify the best candidate. Mark is a proven public company CFO who has overseen significant shareholder value creation through disciplined profitable growth, innovation, and returns-focused capital allocation. Throughout his career, he has manifested the learning agility, strategic thinking, operational rigor, and results-orientation necessary to thrive as a Fortive Business System leader.”
Olumide Soroye, CEO designate of Fortive, said, “I am thrilled to welcome Mark to the Fortive team at this exciting time in our history. He will be a great partner as we execute on greater innovation for our customers, faster profitable growth, disciplined capital allocation, consistent delivery to expectations, and an outstanding culture and workplace experience for all our employees. In addition to his impressive financial skillset, his strategic and operational experiences will be instrumental to unlocking the full potential of new Fortive as a high-quality industrial and healthcare technology growth compounder.”
Mr. Lico continued, “We are grateful to Chuck for his dedicated service to Fortive over the past nine years, including supporting our transition to two high-quality growth companies. He has played an important role in our improved profitability and best-in-class working capital efficiency and spearheaded the development of talent within the finance function, which will continue to see benefits in the years to come.”
Mr. Okerstrom stated, “I have long admired Fortive’s portfolio of businesses and its track record of delivering differentiated operational and financial results through the Fortive Business System. The opportunity to help unlock the full potential of such a great organization was very attractive to me. I am thrilled to become part of this fantastic team, working with Jim, Olumide, the Board, the management team, and the entire Fortive organization to help steward the execution of strategic and capital allocation initiatives that drive durable and profitable growth and create significant value for all stakeholders.”
ABOUT MARK OKERSTROM
Mr. Okerstrom most recently served as an external advisor at Bain & Company, a leading management consulting firm, and at Advent International, a leading global private equity investment firm. Prior to his time with Bain and Advent, he spent 3 years as President and COO of Convoy, Inc. Before that, Mr. Okerstrom spent over 13 years at Expedia Group, Inc. (NASDAQ: EXPE) including as VP then SVP Corporate Development from 2006 to 2011, CFO from 2011 through 2017, CFO and EVP of Operations from 2014 through 2017, and CEO from 2017 through 2019. Earlier in his career, Mr. Okerstrom practiced corporate law at Freshfields in
Mr. Okerstrom served as a member of the Board of Directors of Expedia from 2017 to 2019 and of Trivago (NASDAQ: TRVG), a global hotel and accommodation search platform, from 2016 to 2019 serving as its Chairman from 2017 onwards. Mark is a member of the Board of Trustees of Seattle Children’s Hospital, where he has been involved since 2021 and currently serves as Chairman of the Finance and Asset Management Committee and as Treasurer.
ABOUT FORTIVE
Fortive is a provider of essential technologies for connected workflow solutions across a range of attractive end-markets. Fortive’s strategic segments - Intelligent Operating Solutions, Advanced Healthcare Solutions, and Precision Technologies - include well-known brands with leading positions in their markets. The company’s businesses design, develop, service, manufacture, and market professional and engineered products, software, and services, building upon leading brand names, innovative technologies, and significant market positions. Fortive is headquartered in
FORWARD-LOOKING STATEMENTS
Statements in this release that are not strictly historical, including statements regarding the anticipated prospects and strategies of Fortive or the industries in which Fortive will operate, future opportunities for Fortive, and any other statements identified by their use of words like “anticipate,” “expect,” “believe,” “outlook,” “guidance,” “target,” or “will” or other words of similar meaning, are “forward-looking statements” within the meaning of
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Elena Rosman
Vice President, Investor Relations
Fortive Corporation
6920 Seaway Boulevard
Telephone: (425) 446-5000
Source: Fortive Corporation