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SANTA CLARA - Agilent Technologies Inc. (NYSE:A), a company currently valued at $34.1 billion with a strong financial health rating according to InvestingPro, announced Tuesday that Chief Financial Officer Bob McMahon will step down from his position effective July 31 as he relocates to the East Coast for family reasons.
Rodney Gonsalves, the company’s current corporate controller and principal accounting officer, will serve as interim CFO until a permanent replacement is named. The company has engaged a leading executive search firm to conduct a global search for McMahon’s successor.
"I want to sincerely thank Bob for his seven impactful years of service at Agilent," said President and CEO Padraig McDonnell in a statement released by the company.
Agilent also confirmed it will release its third-quarter fiscal year 2025 financial results after market close on August 27, followed by a conference call at 1:30 p.m. Pacific time. The company expects results to fall within its previously provided guidance range.
The analytical and clinical laboratory technologies provider generated revenue of $6.51 billion in fiscal year 2024 and employs approximately 18,000 people worldwide.
This information is based on a press release issued by Agilent Technologies.
In other recent news, Agilent Technologies Inc. reported strong fiscal second-quarter results, surpassing expectations in revenue, organic growth, and earnings per share. This performance led several analyst firms, including TD Cowen, Stifel, and Leerink Partners, to raise their price targets for Agilent, with TD Cowen setting it at $150 and Stifel at $151, both maintaining a Buy rating. Leerink Partners increased their target to $135, reflecting confidence in Agilent’s growth trajectory and strategic initiatives like Project Ignite. Meanwhile, TORM A/S has acquired full ownership of ME Production, a Danish engineering firm specializing in green maritime equipment, enhancing its commitment to environmental innovation in the maritime sector. This acquisition is expected to bolster TORM’s environmental strategy by leveraging ME Production’s expertise in green technologies. Additionally, Crawford & Company announced the appointment of Amy Shore as an independent director on its board. Shore brings over 30 years of leadership experience in financial services, adding valuable expertise to Crawford’s board. These recent developments highlight strategic moves and strong performances across these companies.
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