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Upon Mr. Lico's retirement, Olumide Soroye, current President and CEO of Fortive's Intelligent Operation Solutions segment, will be appointed as President, CEO, and a director of Fortive.
Tami Newcombe, current President and CEO of Fortive's Precision Technologies and Advanced Healthcare Solutions business segments, will assume the role of President and CEO of NewCo in connection with the separation.
Fortive also announced that Chuck E. McLaughlin will retire as CFO by the end of the first quarter of 2025.
Between now and the completion of the spin-off transaction, Fortive expects to utilize approximately 75% of its available free cash flow to fund incremental share repurchases.
Fortive is currently targeting completion of the spin-off in the fourth quarter of 2025
Posted In: FTV
