Fortive Announces Strategic Plans For Separation Into Two Independent Public Companies
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Fortive Corp announced its strategic plans to separate into two independent public companies. The spin-off is expected to be completed in Q4 2025. The company reaffirmed its Q3 2024 and full-year 2024 outlook, and anticipates utilizing 75% of available free cash flow for incremental share repurchases. Upon the retirement of President and CEO James A. Lico, Olumide Soroye will assume the role, with CFO Chuck E. McLaughlin also set to retire by Q1 2025. The share repurchase program aims to enhance EPS growth in 2025.
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