Fortive names Mark Okerstrom as new CFO

EVERETT, Wash. - Fortive Corporation (NYSE: NYSE:FTV) announced today that Mark Okerstrom will take over as Chief Financial Officer starting March 24, 2025. Okerstrom, with a notable background in finance and corporate leadership, succeeds Chuck E. McLaughlin, who is set to retire but will remain in an advisory capacity through the end of the year to support the transition.

Okerstrom brings a wealth of experience from his tenure at Expedia (NASDAQ:EXPE) Group, Inc., where he held various senior roles including CEO, and was recognized by Institutional Investor Magazine as a top public company CFO. His expertise in driving profitable growth and strategic M&A will be leveraged at Fortive’s headquarters in Everett, Washington.

President and CEO James A. Lico expressed confidence in Okerstrom’s ability to further Fortive’s growth objectives, citing his track record of shareholder value creation and operational excellence. This confidence appears well-founded, as Expedia’s stock delivered a 42.78% return over the past year according to InvestingPro data. CEO designate Olumide Soroye also welcomed Okerstrom, emphasizing his strategic and operational experience as key to Fortive’s future as a technology growth compounder.

The company expressed gratitude to McLaughlin for his contributions to Fortive’s profitability and talent development within the finance function. Okerstrom himself is eager to contribute to Fortive’s success, aiming to execute strategic initiatives that drive growth and value creation. For detailed analysis of Fortive’s financial health and growth potential, investors can access comprehensive Pro Research Reports available on InvestingPro, which covers over 1,400 US stocks with expert insights and actionable intelligence.

Fortive, known for its connected workflow solutions across various end-markets, operates through segments including Intelligent Operating Solutions, Advanced Healthcare Solutions, and Precision Technologies. The Fortive Business System is central to the company’s continuous improvement culture.

This leadership change comes as Fortive continues to navigate a complex global business landscape, with the company’s forward-looking statements reflecting both the potential opportunities and challenges ahead.

Information for this article is based on a press release statement from Fortive Corporation.

In other recent news, Expedia Group has seen several developments that may interest investors. The company reported robust financial performance in its fourth quarter of 2024, with a notable 9% year-over-year growth in its Business-to-Consumer operations and a 24% increase in its Business-to-Business segment. This strong performance led to a 10% revenue increase, surpassing forecasts and achieving a $643 million adjusted EBITDA, exceeding market expectations. In terms of credit ratings, S&P Global Ratings assigned a ’BBB’ rating to Expedia’s proposed senior unsecured notes, reflecting the company’s stable outlook and financial strategy.

Analyst firms have adjusted their price targets for Expedia, with BMO Capital Markets raising theirs to $190, citing improved cost efficiencies. DA Davidson increased its price target to $205, acknowledging Expedia’s strong quarterly results and potential for sustained growth. Meanwhile, Mizuho (NYSE:MFG) Securities lifted its target to $195, expressing confidence in Expedia’s strategic initiatives and EBITDA forecast for fiscal year 2026.

The competition remains a challenge for Expedia, particularly in its Vrbo and Hotels.com segments, which face strong contenders like Airbnb and Booking (NASDAQ:BKNG).com. Despite this, analysts have recognized Expedia’s efforts to manage costs and improve margins, although potential increases in marketing expenditures could impact profitability. These updates provide investors with insights into Expedia’s current financial health and future prospects.

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