IDEX Corp CFO resigns, interim replacement named

IDEX Corporation (NYSE:IEX), a $14.2 billion market cap industrial company with strong financial health according to InvestingPro analysis, announced the resignation of its Senior Vice President and Chief Financial Officer (CFO), Abhishek Khandelwal, effective May 30, 2025. Khandelwal is leaving to pursue a new professional opportunity, and his departure is not due to any disagreements on matters of accounting principles or practices, financial statement disclosure, or internal controls, according to a statement filed with the Securities and Exchange Commission (SEC).

The company, known for its production of pumps and pumping equipment and maintaining a healthy current ratio of 2.79, has engaged an external search firm to find a permanent CFO. In the interim, Akhil Mahendra, currently serving as Vice President of Corporate Development, has been appointed as the interim CFO, effective the same date as Khandelwal’s departure. InvestingPro data reveals IDEX has maintained dividend payments for 31 consecutive years, demonstrating strong financial stability.

Mahendra, aged 44, has been with IDEX for around two years and previously held a position at Rivian Automotive (NASDAQ:RIVN), Inc., an electric vehicle manufacturer. His educational background includes a bachelor’s degree in Mechanical Engineering from Kettering University and an MBA from the University of Michigan.

There are no familial or transactional relationships between Mahendra and other directors or executive officers of the company that require disclosure under SEC regulations. As part of his interim appointment, Mahendra will receive a restricted stock award valued at $500,000, which will vest after three years, contingent on his continued service with the company.

The company’s press release stated that these changes are part of the regular course of business and are not indicative of any underlying issues within the company or its operations. With a solid 44.6% gross profit margin and moderate debt levels, IDEX maintains strong operational efficiency. The information provided is based on the latest 8-K filing by IDEX Corporation with the SEC. For comprehensive analysis and additional insights, investors can access the detailed Pro Research Report available on InvestingPro, covering over 1,400 top US stocks.

In other recent news, IDEX Corporation reported strong first-quarter 2025 earnings, surpassing analyst expectations with an earnings per share (EPS) of $1.75, compared to the forecasted $1.67. The company’s revenue also exceeded projections, reaching $872 million against the anticipated $810.42 million. Stifel analysts raised their price target for IDEX to $208 from $192, maintaining a Buy rating due to solid order growth and proactive cost reductions. Additionally, IDEX declared a regular quarterly cash dividend of $0.71 per share, marking its 122nd consecutive dividend payment, highlighting its financial stability and commitment to shareholder returns.

During its recent Annual Meeting of Stockholders, IDEX shareholders approved several key proposals, including the re-election of three Class III directors and the appointment of Deloitte & Touche LLP as the independent accounting firm for fiscal year 2025. However, a stockholder proposal regarding hiring practices related to individuals with arrest or incarceration records did not pass. These developments were part of IDEX’s latest 8-K filing with the Securities and Exchange Commission.

IDEX continues to focus on strategic initiatives, such as innovation and cost optimization, to drive future growth. The company remains optimistic about its platform strategy, which aims to enhance growth through new product development and market penetration. Despite potential challenges in the second half of 2025, IDEX maintains its full-year organic growth guidance of 1% to 3% and adjusted EPS guidance between $8.10 and $8.45.

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