Vontier Appoints Anshooman Aga as Chief Financial Officer

Rhea-AI Summary

Vontier Corporation announced the appointment of Anshooman Aga as Chief Financial Officer effective August 29, 2022. Mr. Aga succeeds David Naemura, who will assist in the transition until year-end. With over 20 years of finance experience, Aga has a strong background in growth and transformation across industrial sectors. He previously served as CFO at Harsco Corporation and Cubic Corporation. Vontier, a global technology leader in mobility solutions, expects Aga's expertise to enhance its financial performance and strategic growth initiatives.

Positive

• Appointment of Anshooman Aga as CFO expected to drive financial performance.
• Mr. Aga's extensive experience in operational finance and corporate development.
• Vontier's commitment to strengthening its growth portfolio with new leadership.

Negative

• Transition may present continuity challenges as David Naemura departs.

RALEIGH, N.C.--(BUSINESS WIRE)-- Vontier Corporation (“Vontier”) (NYSE: VNT) today announced the appointment of Anshooman Aga as Chief Financial Officer, effective August 29, 2022. Mr. Aga succeeds David Naemura, who will remain with the Company through year end and work closely with Aga and other members of the executive team to facilitate a seamless transition.

“Anshooman is an experienced CFO with particular expertise driving growth and transformation within industrial and technology-oriented businesses,” said Mark D. Morelli, Vontier’s President and Chief Executive Officer. “His deep financial acumen, history of strategic capital allocation and extensive experience in mobility technology markets will help drive continued financial performance for both Vontier and our shareholders. We are excited to welcome Anshooman to Vontier’s leadership team and look forward to his immediate contribution as we continue to accelerate our strategy to build a better, stronger, more focused growth portfolio.”

“On behalf of everyone at Vontier, I would like to thank Dave for his many contributions to the company,” added Morelli. “Dave has played an instrumental role in Vontier’s separation and launch as an independent company and has been an important partner to me over these last two years as we have positioned the company for long-term success.”

Mr. Aga brings more than 20 years of experience in operational finance, financial planning & analysis and corporate development, has a proven track record of driving growth and has led numerous transformations throughout his career. Most recently, he served as Senior Vice President and Chief Financial Officer (CFO) of Harsco Corporation (NYSE: HSC) from August 2021 through August 2022. Prior to joining Harsco Corporation, Mr. Aga was the Executive Vice President and Chief Financial Officer (CFO) of Cubic Corporation. He joined Cubic in July 2017 as Executive Vice President and assumed the role of CFO in October 2017. In this role, Mr. Aga was responsible for all aspects of Cubic’s financial strategies, processes and operations, including corporate development, risk management, investor relations, real estate, and global manufacturing, procurement and IT. Prior to joining Cubic, Mr. Aga served at AECOM, a multinational engineering firm (NYSE: ACM) from June 2015 to July 2017, where he was senior vice president and chief financial officer of their multi-billion-dollar Design and Consulting Services business in the Americas. He also held a series of financial leadership positions at Siemens, a multinational industrial manufacturing company, from July 2006 to May 2015, including chief financial officer of the Energy Automation business based in Nuremburg, Germany, in addition to similar financial roles for Siemens’ Rail Electrification and TurboCare business units.

ABOUT VONTIER

Vontier is a global industrial technology company at the forefront of solving next-gen mobility and transportation challenges. Guided by the Vontier Business System and an unwavering commitment to our customers, Vontier delivers smart, sustainable solutions to create a better world.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the federal securities laws. These statements include, but are not limited to statements regarding Vontier Corporation’s (the “Company’s”) business and acquisition opportunities and anticipated earnings, and any other statements identified by their use of words like “anticipate,” “expect,” “believe,” “outlook,” “guidance,” or “will” or other words of similar meaning. There are a number of important risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These risks and uncertainties include, among other things, the duration and impact of the ongoing COVID-19 pandemic, deterioration of or instability in the economy, the markets we serve, international trade policies and the financial markets, contractions or lower growth rates and cyclicality of markets we serve, competition, changes in industry standards and governmental regulations that may adversely impact demand for our products or our costs, our ability to successfully identify, consummate, integrate and realize the anticipated value of appropriate acquisitions and successfully completed divestitures and other dispositions, our ability to develop and successfully market new products, software, and services and expand into new markets, the potential for improper conduct by our employees, agents or business partners, impact of divestitures, contingent liabilities relating to acquisitions and divestitures, impact of changes to tax laws, our compliance with applicable laws and regulations and changes in applicable laws and regulations, risks relating to international economic, political, war or hostility, legal, compliance and business factors, risks relating to potential impairment of goodwill and other intangible assets, currency exchange rates, tax audits and changes in our tax rate and income tax liabilities, the impact of our debt obligations on our operations, litigation and other contingent liabilities including intellectual property and environmental, health and safety matters, our ability to adequately protect our intellectual property rights, risks relating to product, service or software defects, product liability and recalls, risks relating to product manufacturing, our relationships with and the performance of our channel partners, commodity costs and surcharges, our ability to adjust purchases and manufacturing capacity to reflect market conditions, reliance on sole sources of supply, security breaches or other disruptions of our information technology systems, adverse effects of restructuring activities, impact of changes to U.S. GAAP, labor matters, and disruptions relating to man-made and natural disasters. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our Annual Report on Form 10-K for the year ended December 31, 2021. These forward-looking statements represent Vontier’s beliefs and assumptions only as of the date of this release and Vontier does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220812005064/en/

Ryan Edelman

Vice President, Investor Relations

Vontier Corporation

5438 Wade Park Blvd, Suite 600

Raleigh, NC, 27607

Telephone: (984) 275-6000

Source: Vontier Corporation

FAQ

What significant change happened at Vontier Corporation on August 29, 2022?

Anshooman Aga was appointed as the new Chief Financial Officer, succeeding David Naemura.

Who is Anshooman Aga and what experience does he bring to Vontier?

Anshooman Aga has over 20 years of experience and previously served as CFO at Harsco Corporation and Cubic Corporation.

How might Anshooman Aga's appointment impact Vontier's stock performance?

His expertise is expected to enhance Vontier's financial strategies and growth initiatives, potentially benefiting shareholders.

What was David Naemura's role at Vontier before leaving?

David Naemura served as CFO and helped the company during its separation and launch as an independent entity.

What is Vontier Corporation focused on?

Vontier specializes in industrial technology solutions aimed at addressing next-generation mobility and transportation challenges.