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Vestis Corp (NYSE:VSTS) disclosed that Grant Shih, Executive Vice President and Chief Technology Officer, will leave his position with the company, effective Tuesday. According to a statement in a press release filed with the Securities and Exchange Commission, there is no disagreement between Mr. Shih and Vestis regarding the company’s operations, policies, or practices.
The filing states that Mr. Shih will receive separation benefits consistent with a termination other than for cause, in accordance with the terms of his amended and restated employment agreement dated April 2, 2024.
Vestis Corp is headquartered in Roswell, Georgia, and its common stock trades on the New York Stock Exchange under the symbol VSTS. The information in this article is based on a press release statement filed with the SEC.
In other recent news, Vestis Corp reported its third-quarter earnings for 2025, revealing a significant shortfall in both earnings per share and revenue compared to analyst projections. The company posted an EPS of -0.01, well below the forecasted 0.35, and reported revenue of $674 million, missing expectations of $780.74 million by 13.67%. Additionally, Vestis Corporation announced key executive appointments, with Rod Wedemeier joining as Executive Vice President and Chief Human Resources Officer and Wendy Zacchio stepping in as Senior Vice President, Chief Information Officer, and Chief Digital Officer. In another development, Vestis Corp disclosed that its Compensation and Human Resources Committee approved special, one-time long-term incentive awards for selected executive officers and key employees to support retention. These awards, named Vestis Retention LTI Awards, include time-vesting restricted stock units for several executive leadership team members, excluding the President and CEO, Jim Barber. These recent developments reflect ongoing strategic and operational changes within the company.
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