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SALEM, NH - Standex International Corp (NYSE:SXI), a $2 billion market cap industrial manufacturer with a FAIR financial health rating according to InvestingPro, disclosed in a recent SEC filing that Amy Gagnon, the company’s Vice President and Chief Accounting Officer, will step down from her position effective May 2, 2025. The announcement, dated March 19, 2025, states that Gagnon’s departure is due to personal family obligations.
Following this departure, Standex has named Danielle Rangel as the new Vice President and Chief Accounting Officer, also effective May 2, 2025. Rangel, 43, has been serving as the company’s Vice President of Internal Audit and Investigations since May 2023. Her prior experience includes roles at Carlisle Fluid Technologies, where she was the Global Financial Process & Controls Director and then Global Controller from August 2019 to May 2023. Rangel also has a history of various financial and audit roles at Bombreco, Walmart (NYSE:WMT), Datacard, Pentair (NYSE:PNR), and Emerson (NYSE:EMR) Automation Solutions.
Rangel’s appointment comes with participation in the company’s Executive Severance Policy, which was detailed in a previous Form 8-K filing dated November 1, 2023. This policy outlines the terms of severance for executives under certain conditions.
The transition comes at a time when Standex, a manufacturer in the refrigeration and service industry machinery sector, continues to position itself in the marketplace. The company, headquartered in Salem, New Hampshire, is incorporated in Delaware and ends its fiscal year on June 30.
This executive shuffle reflects the ongoing changes in Standex’s leadership structure and is based on information from the company’s latest SEC filing. The market will likely watch how this transition affects Standex’s strategic direction and financial controls under Rangel’s stewardship.
In other recent news, Standex International Corporation reported its fourth-quarter 2024 earnings, surpassing analysts’ expectations with an earnings per share (EPS) of $1.91, compared to the forecasted $1.85. The company’s revenue for the quarter was $189.8 million, exceeding the anticipated $187.61 million. Despite these positive earnings results, Standex’s stock experienced a decline in trading. The company achieved a record adjusted operating margin of 18.7%, reflecting a 150 basis point improvement from the previous year. Standex has been focusing on fast-growth markets such as electrical grid infrastructure and renewable energy, which contributed to its solid performance. Additionally, Standex’s recent acquisition of the Ameren (NYSE:AEE) Orion Group has been progressing well, with expectations of a 15% annual growth rate. The company has also set ambitious long-term targets, aiming for sales exceeding $1.15 billion and an adjusted operating margin of over 23%. Analyst firms have noted the company’s strategic moves, with a focus on market expansion and product development.
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