Street Calls of the Week
LANSING, Mich. - Neogen Corporation (NASDAQ:NEOG), a food safety solutions provider with a market capitalization of $1.2 billion, announced Monday that Chief Financial Officer and Chief Operating Officer David Naemura plans to leave the company. The announcement comes as the company’s stock has declined nearly 66% over the past year. Naemura will remain in his current roles until after the company files its 10-Q in October, with his departure expected no later than the end of 2025.
The food safety solutions provider has engaged an executive search firm to identify Naemura’s successor as CFO. During the transition period, Bill Waelke, Vice President of Investor Relations & Treasury, will be available to address questions alongside the company’s finance team.
As part of the reorganization, Jim Walter, Vice President of Global Operations, will take on additional responsibilities overseeing Global Procurement and will report directly to Chief Executive Officer Mike Nassif.
"We are grateful for Dave’s contributions, and the role he’s played over the past three years in navigating us through a dynamic period," said Nassif in a press release statement.
Naemura has served in his dual role at Neogen for three years, helping guide the company through what it describes as a "dynamic period." The company, which specializes in food safety solutions with operations in over 140 countries, stated it views the transition as an opportunity to bring in new leadership to advance its strategic initiatives.
Neogen, headquartered in Lansing, Michigan, focuses on food safety, livestock, and pet health products and services, with a global presence across more than 140 countries. The company generated revenue of $895 million in the last twelve months, though it faces current challenges with profitability. For deeper insights into Neogen’s financial health and future prospects, InvestingPro subscribers have access to detailed analysis and 7 additional key ProTips that could help inform investment decisions.
In other recent news, Neogen Corporation reported its fourth-quarter 2025 earnings, exceeding analyst expectations with an earnings per share of $0.05, compared to the forecasted -$0.03. The company’s revenue also surpassed projections, reaching $225.5 million against the expected $221.92 million. Despite these positive results, analyst firm William Blair downgraded Neogen’s stock from Outperform to Market Perform, citing concerns over the company’s growth prospects in the face of challenging macroeconomic conditions. This downgrade followed Neogen’s fiscal 2026 revenue guidance, which suggested flat to declining revenues excluding its recently divested disinfectant business.
In other developments, Neogen announced a partnership with Biomatter to create enzyme-based products for food safety applications. The collaboration will leverage Neogen’s analytical development expertise alongside Biomatter’s AI-driven enzyme design platform. Additionally, Neogen revealed changes to its Board of Directors, with William Boehm set to retire in October 2025 and Avi Pelossof joining the board. Pelossof brings extensive experience from the diagnostics market, having previously served as CEO and President at Immucor Inc. Furthermore, Neogen granted performance share units and stock options to key executives as part of its fiscal year 2026 long-term incentive program, focusing on revenue growth, EBITDA margin expansion, and cash flow conversion over a three-year period.
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