MillerKnoll appoints John Hoke as board chair, Jeff Stutz as COO

ZEELAND, Mich. - MillerKnoll (NASDAQ:MLKN), the furniture manufacturer with a market capitalization of $1.47 billion, announced Friday two key leadership changes as part of its organizational strategy. John Hoke will become Board Chair effective October 13, 2025, succeeding Mike Volkema who is retiring after 25 years on the board. Additionally, Jeff Stutz has been appointed Chief Operating Officer effective September 8, 2025.

Hoke, who has served on MillerKnoll’s board since 2005, brings over 30 years of experience from Nike Inc., where he most recently held the position of Chief Innovation Officer. In his new role, he will continue to report to Andi Owen, President and CEO of MillerKnoll. According to InvestingPro, the company has maintained dividend payments for 55 consecutive years, demonstrating long-term financial stability.

"John is a dynamic leader who has brought extensive design thinking and brand management expertise to our Board," said Owen in the company’s press release.

Stutz, who has been with the company since 2001 and served as Chief Financial Officer since 2015, will now oversee MillerKnoll’s International Contract Business, global manufacturing and distribution operations, and the company’s Europe-based brands. His expanded responsibilities include growing the International Contract and Group brands through the company’s dealer network.

Kevin Veltman, Senior Vice President of Finance, will serve as interim Chief Financial Officer while the company conducts a search for Stutz’s replacement.

MillerKnoll, formed through Herman Miller’s acquisition of Knoll, Inc. in 2020, reported net sales of $3.7 billion in fiscal year 2025, with a healthy current ratio of 1.58 indicating strong liquidity. The company’s portfolio includes multiple furniture and accessories brands for commercial and residential spaces. InvestingPro analysis suggests the stock is currently undervalued, with two analysts recently revising their earnings expectations upward for the upcoming period.

The leadership changes come as the company positions itself for its next phase of growth in both retail and contract channels, according to the announcement. InvestingPro data reveals multiple positive indicators for the company’s future, including expected net income growth this year. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

In other recent news, MillerKnoll reported strong financial results for the fourth quarter of fiscal 2025, surpassing analysts’ expectations. The company achieved an adjusted earnings per share (EPS) of $0.60, which was significantly higher than the forecasted $0.44, marking a 36.36% surprise. Revenue for the quarter reached $961.8 million, exceeding the anticipated $913.8 million. This performance was driven by increased order growth as customers placed orders ahead of potential tariff-related price increases. Despite the strong results, Benchmark maintained a Hold rating on MillerKnoll’s stock.

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