Fortive Also Announces Filing of Form 10 Registration Statement for Planned Spin-Off of Ralliant
EVERETT, Wash., May 05, 2025--(BUSINESS WIRE)--Fortive Corporation ("Fortive") (NYSE: FTV) today announced the appointment of Neill Reynolds as Chief Financial Officer (CFO) of Ralliant Corporation ("Ralliant"), effective June 2, 2025.
Mr. Reynolds brings more than 25 years of financial leadership experience within complex, global, publicly traded organizations. He most recently served as Executive Vice President and CFO of Wolfspeed, where he played a pivotal role in the company’s strategic transformation to become a leading silicon carbide materials and power semiconductor supplier.
Prior to his tenure at Wolfspeed, Mr. Reynolds held key finance leadership roles at Freescale Semiconductor, where he was instrumental in delivering substantial margin expansion and leading operational integration efforts following the company’s $40 billion merger with NXP Semiconductors. Earlier in his career, he spent 15 years at General Electric in progressively senior financial roles.
In recognition of his leadership and impact, Mr. Reynolds was named "CFO of the Year – Mid-Cap Semiconductor" by Institutional Investor in 2023. He brings to Ralliant a comprehensive skill set spanning finance, M&A, investor relations, business development, IT, supply chain, procurement, and operational execution.
Tami Newcombe, President and Chief Executive Officer of Ralliant, stated "Neill is a proven CFO with a track record of financial and operational outperformance. His broad expertise and leadership will be instrumental as we establish Ralliant as a standalone public company. I look forward to partnering with him to drive growth, expand margins, and generate strong cash flow to create long-term value for our shareholders."
Mr. Reynolds added, "I am honored and enthusiastic to join Ralliant at this exciting inception. The company has a track record of innovating for customers and delivering strong margins and free cash flow as a segment of Fortive. Going forward, I am eager to collaborate with Tami and the talented Ralliant team to seize the significant opportunities for outperformance that lie ahead."
Additionally, Fortive announced the filing of the Form 10 registration statement with the U.S. Securities and Exchange Commission (SEC) for the planned spin-off of Fortive’s Precision Technologies segment, to be named Ralliant, which remains on track for completion by the end of the second quarter of 2025.
Ms. Newcombe concluded, "Neill joins our leadership team with other newly appointed executive officers, including Karen Bick (Chief People Officer), Jeb Boatman (Chief Legal Officer), and Amir Kazmi (Chief Technology and Growth Officer), who have deep functional expertise from a diverse mix of industry-leading companies, as well as operating company presidents Chris Bohn, Corey Christmann, and Andrew McCauley, who have a strong track record and significant experience leading these businesses. I am incredibly proud of the world-class leadership team we have assembled at Ralliant. Together, we are well-positioned to build a high-performing organization and chart a compelling path forward as an independent public company."
About Fortive
Fortive is a provider of essential technologies for connected workflow solutions across a range of attractive end-markets. Fortive’s strategic segments - Intelligent Operating Solutions, Advanced Healthcare Solutions, and Precision Technologies - include well-known brands with leading positions in their markets. The company’s businesses design, develop, service, manufacture, and market professional and engineered products, software, and services, building upon leading brand names, innovative technologies, and significant market positions. Fortive is headquartered in Everett, Washington and employs a team of more than 18,000 research and development, manufacturing, sales, distribution, service and administrative employees in more than 50 countries around the world. With a culture rooted in continuous improvement, the core of our company’s operating model is the Fortive Business System. For more information please visit: www.fortive.com.
Forward-Looking Statements
Statements in this presentation that are not strictly historical, including statements regarding our plans to separate into two independent, publicly-traded companies and the timing and cost related to the planned separation, future prospects, shareholder value, and any other statements identified by their use of words like "anticipate," "expect," "believe," "outlook," "guidance," "target", or "will" or other words of similar meaning, are "forward-looking statements" within the meaning of the United States federal securities laws. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things: deterioration of or instability in the economy, the markets we serve, international trade policies and deteriorating trade relations with other countries, including imposition of tariffs and retaliatory tariffs between United States and China and other countries, responsive economic nationalism, trade restrictions, and enhanced regulation, the financial markets, geopolitical conditions and conflicts, security breaches or other disruptions of our information technology systems, supply chain constraints, our ability to adjust purchases and manufacturing capacity to reflect market conditions, reliance on sole sources of supply, contractions or lower growth rates and cyclicality of markets we serve, competition, changes in industry standards and governmental regulations, our ability to recruit and retain key employees, our ability to successfully identify, consummate, integrate and realize the anticipated value of appropriate acquisitions and successfully complete divestitures and other dispositions, our ability to develop and successfully market new products, software, and services and expand into new markets, the potential for improper conduct by our employees, agents or business partners, contingent liabilities relating to acquisitions and divestitures, impact of changes to tax laws, our compliance with applicable laws and regulations and changes in applicable laws and regulations, risks relating to international economic, geopolitical, including war and sanctions, legal, compliance and business factors, risks relating to potential impairment of goodwill and other intangible assets, currency exchange rates, tax audits and changes in our tax rate and income tax liabilities, the impact of our debt obligations on our operations, litigation and other contingent liabilities including intellectual property and environmental, health and safety matters, our ability to adequately protect our intellectual property rights, risks relating to product, service or software defects, product liability and recalls, risks relating to product manufacturing, our relationships with and the performance of our channel partners, commodity costs and surcharges, adverse effects of restructuring activities, our plans to separate into two independent, publicly-traded companies, risk related to tax treatment of our prior or pending separation, impact of our indemnification obligation to Vontier, impact of changes to U.S. GAAP, labor matters, and disruptions relating to man-made and natural disasters and climate change. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Report on Form 10-Q for the quarter ended March 28, 2025. These forward-looking statements speak only as of the date of this presentation, and Fortive does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.
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Contacts
Elena Rosman
Vice President, Investor Relations
Fortive Corporation
6920 Seaway Boulevard
Everett, WA 98203
Telephone: (425) 446-5000
