Columbus McKinnon announces senior VP retirement

Columbus McKinnon Corporation (NASDAQ:CMCO), a leader in the construction machinery and equipment industry with a market capitalization of $982 million, has announced the retirement of its Senior Vice President of Global Operations, Bert A. Brant. According to InvestingPro analysis, the company maintains a FAIR financial health score and has consistently paid dividends for 12 consecutive years. The retirement will be effective February 28, 2025, as disclosed in a recent 8-K filing with the Securities and Exchange Commission.

Mr. Brant’s departure follows a tenure marked by significant contributions to the company’s operational capabilities, during which the company achieved a solid current ratio of 2.04, indicating strong liquidity. As part of an orderly transition, Mr. Brant entered into a retirement agreement with Columbus McKinnon on February 3, 2025. This agreement will take effect on February 10, 2025, following a standard seven-day revocation period.

Under the terms of the retirement agreement, Mr. Brant will remain employed through the end of February, assisting with the handover of his duties. He will continue to receive his regular base salary during this period. Additionally, Mr. Brant is eligible for a potential payout under the company’s annual incentive plan for fiscal year 2025, subject to the achievement of specified metrics.

Columbus McKinnon has confirmed that Mr. Brant’s outstanding equity awards will vest according to the company’s Second Amended and Restated 2016 Long Term Incentive Plan rules for an employee retirement. Furthermore, if Mr. Brant elects COBRA coverage, the company will cover the premiums for him and his eligible dependents for twelve months post-retirement. He will also be compensated for any accrued but unused vacation time, per the company’s standard U.S vacation policy.

In exchange for these benefits, Mr. Brant has agreed to several covenants, including non-disparagement and non-solicitation for one year post-retirement, and a non-competition agreement effective for six months following his retirement date. He has also provided a general release of any potential claims against Columbus McKinnon.

This announcement is based on a press release statement and reflects the company’s commitment to transparency regarding changes in its executive team. Columbus McKinnon’s stock will continue to trade on the Nasdaq Global Select Market under the ticker symbol CMCO. For investors seeking deeper insights, InvestingPro offers comprehensive analysis of CMCO’s financial health, including exclusive Fair Value calculations and detailed Pro Research Reports, available as part of the platform’s coverage of over 1,400 US equities.

In other recent news, Columbus McKinnon Corporation has set its regular quarterly dividend at $0.07 per common share, demonstrating its ongoing commitment to return value to its shareholders. The dividend is slated for distribution in mid-February to shareholders on record as of early February. Columbus McKinnon, a key player in the provision of intelligent motion solutions, continues to impact industries by offering efficient and ergonomic ways to move, lift, position, and secure materials. This dividend announcement aligns with Columbus McKinnon’s tradition of quarterly dividend payments, reflecting the company’s financial stability. The company, which has approximately 28.6 million common shares outstanding, is recognized for its superior design and engineering excellence. These developments are part of the company’s recent activities.

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