Investing.com -- Forgent Power Solutions Inc. (NYSE: FPS) shares declined 11% on Thursday following the announcement of a leadership transition within its finance organization, compounding broader market weakness as the S&P 500 fell 0.9%.
The designer and manufacturer of electrical distribution equipment disclosed that Chief Financial Officer Ryan Fiedler will step down to transition into an external consulting role, citing family reasons. Forgent's Board of Directors has appointed Amy Ard, currently Executive Vice President of Finance, to succeed Fiedler as CFO. Fiedler will work alongside Ard over the coming weeks to ensure a seamless handover.
During his tenure, Fiedler strengthened Forgent's financial infrastructure and helped steer the company through its initial public offering and fiscal year 2026.
Ard, who has served as Executive Vice President of Finance since January, currently oversees financial planning, reporting, treasury, and operational finance functions. A member of Forgent's core leadership team since its founding, Ard played a key role in the company's IPO and in establishing its public-company financial and governance frameworks.
She brings over 25 years of senior finance and accounting experience across both public and private sectors, having begun her career in public accounting at PricewaterhouseCoopers.
Gary Niederpruem, Chief Executive Officer of Forgent, expressed gratitude for Fiedler's contributions and voiced strong confidence in Ard's leadership to guide the company's ongoing financial strategy.
Original Article
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