Dive Brief:
- Forgent Power Solutions CFO Ryan Fiedler stepped down from the company’s top finance post on Wednesday citing plans to spend more time with his family, according to a Thursday press release.
- Amy Ard, the electrical distribution provider’s VP of finance, succeeded Fiedler as CFO also effective Wednesday, according to a securities filing. Fiedler, who is departing after serving about a year as CFO, will remain with the business until Oct. 30 to assist with a transition, according to the filing with the Securities and Exchange Commission. The business in an amended filing stated Fiedler’s departure is not the result of any disagreement with the company.
- During his tenure, Fiedler helped shepherd the business through its initial public offering in February, strengthened its finance organization and helped to record a “record fiscal 2026,” the company said in the Thursday release.
Dive Insight:
Fiedler joined the Dayton, Minn.-based company in mid-2025, shortly before the business, which designs and manufacturers electrical equipment for entities including data centers, power grids and “energy-intensive” industrial facilities, announced its initial public offering in February 2026.
The IPO raised about $1.5 billion at $27 per share, giving Forgent a valuation of about $8.2 billion, according to a Reuters report at the time.
Before Forgent, Fiedler served in numerous executive roles through 14 years at machinery manufacturer Caterpillar, including as its CFO of Resource Industries and VP of investor relations, according to his LinkedIn profile. He also served 10 years at JPMorgan Chase in roles including its VP of investment banking coverage.
The company entered into a separation agreement with Fiedler regarding his departure, which, in lieu of the severance payments and benefits inked under his employment agreement, entitles him to receive all base salary earned but unpaid through his departure at the end of the month, according to the filing.
Fiedler will also receive a lump sum payment for any vacation time accrued and unused through his separation date, and his current outstanding incentive stock units will continue to remain outstanding and to vest according to their terms, per the filing.
Fiedler received an annual base salary of $552,329 for Forgent’s fiscal 2026, according to its annual 10-K report filed Sept. 15. He received an award of 262.9 incentive awards last December, with a grant date value of $616,153 a share, according to the filing.
His successor Ard has served in her current role since January and helped to usher the manufacturer through its February IPO, according to the press release.
Beginning her career at Big Four firm PricewaterhouseCoopers, Ard has served as CFO for companies including AMG Advanced Metallurgical Group, renewable energy firm Proterra Inc and fitness company Tonal, according to her LinkedIn.
In association with her role as CFO, Ard will receive an annual base salary of $550,000 and will be eligible to earn an annual cash bonus up to 85% of her base pay, “based on the achievement of corporate performance goals,” according to the Thursday filing. She will also be eligible to receive an annual equity grant, and will receive a one-time equity grant with a target grant date value of $500,000, to be granted on Nov. 1.
Ard’s “extensive operational finance experience has been invaluable in supporting Forgent’s growth, and I am confident she is the right financial leader to guide the Company through its next phase of value creation,” Forgent CEO Gary Niederpruem said in a statement included in the release.
The business is making the CFO transition as it prepares to report earnings for its first fiscal quarter of 2027, after recording record results for its previous fiscal year — its first as a public entity. For its fiscal 2026, Forgent reported a 508% year-over-year increase in net income, which reached $106 million, according to its Sept. 15 earnings report. Full-year revenue of $1.4 billion, meanwhile, jumped 89% YoY.
Forgent also released guidance for its fiscal 2027, expecting revenues of a range between $2.4 billion to $2.6 billion.
In a separate Thursday release, Forgent noted it plans to report its fiscal 2027 Q1 results on Nov. 12, where it expects to report revenues and adjusted EBITDA exceeding the high end of its previously provided ranges, according to the release.
