We collect cookies to analyze our website traffic and performance; we never collect any personal data. Cookie Policy
Accept
The Tycoon Herald
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Reading: Shyft Group CFO Jon Douyard steps down By Investing.com
Sign In
The Tycoon HeraldThe Tycoon Herald
Font ResizerAa
Search
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© Tycoon Herald. All Rights Reserved.
Shyft Group CFO Jon Douyard steps down By Investing.com
The Tycoon Herald > Business > Shyft Group CFO Jon Douyard steps down By Investing.com
Business

Shyft Group CFO Jon Douyard steps down By Investing.com

Tycoon Herald
By Tycoon Herald 6 Min Read
Share
SHARE

Shyft Group CFO Jon Douyard steps down By Investing.com

NOVI, Mich. – The Shyft Group, Inc. (NASDAQ: SHYF), a frontrunner in North American specialty car manufacturing, introduced right this moment the resignation of Jon Douyard as Chief Monetary Officer. Douyard will proceed in his position till December 31, 2024, to facilitate a clean transition.

Douyard’s departure comes after practically 5 years of service with the corporate, throughout which period he has been credited with instilling monetary self-discipline, sustaining a powerful steadiness sheet, and driving progress inside the group. President and CEO John Dunn expressed gratitude for Douyard’s contributions and management, which he believes have fortified the corporate’s place for future success.

In his personal assertion, Douyard mirrored on his tenure with satisfaction, highlighting the investments made and the proficient staff at Shyft that he’s assured will proceed to propel the corporate’s progress and success.

The Shyft Group’s Board of Administrators has initiated a complete seek for Douyard’s successor, contemplating each inside and exterior candidates, with the help of an unbiased govt search agency. The purpose is to discover a new CFO who can proceed to drive the monetary technique and progress of the corporate.

The Shyft Group is acknowledged for its various portfolio of manufacturers and merchandise, which serve a variety of sectors together with supply providers, authorities entities, and the utility and infrastructure segments. The corporate has a workforce of roughly 3,000 workers and contractors and reported gross sales of $872 million in 2023.

As the corporate prepares for this management change, the market will probably be watching carefully to see how The Shyft Group maintains its momentum within the specialty car business. This information is predicated on a press launch assertion from The Shyft Group, Inc.

In different latest information, The Shyft Group has reported blended monetary outcomes for its third quarter of 2024. Regardless of a 4% drop in gross sales to $194.1 million, the corporate noticed a 31% year-over-year improve in adjusted EBITDA, reaching $14.3 million. Web earnings for the quarter was $3.1 million, down from the earlier 12 months’s $4.5 million. The corporate’s Specialty Automobiles section grew by 14% in gross sales, whereas the Fleet Automobiles and Companies section noticed a 15% lower.

As well as, The Shyft Group has introduced strategic partnerships with Allegiance Vehicles, LLC, and Ascendance Vehicles, LLC to bolster the seller gross sales and repair community for the Blue Arc™ Class 4 all-electric truck within the Northeast area. This transfer is predicted to reinforce the business electrical car (EV) market’s infrastructure and cater to the evolving calls for of fleet operators.

These latest developments point out The Shyft Group’s strategic give attention to operational effectivity and market share upkeep. The corporate is within the strategy of transitioning the Blue Arc electrical car program into manufacturing, with preliminary outputs anticipated by the tip of the 12 months. The corporate’s administration is actively in search of extra progress alternatives, as evidenced by the latest integration of Impartial (LON:) Truck Outfitters and the exploration of recent ventures.

InvestingPro Insights

As The Shyft Group navigates this management transition, InvestingPro knowledge offers extra context to the corporate’s monetary panorama. Regardless of the introduced departure of CFO Jon Douyard, there are constructive indicators for the corporate’s future. An InvestingPro Tip means that web earnings is predicted to develop this 12 months, which aligns with the corporate’s efforts to keep up monetary self-discipline and drive progress.

Nonetheless, traders ought to word that The Shyft Group’s inventory worth actions are fairly unstable, in accordance with one other InvestingPro Tip. This volatility might be exacerbated by the upcoming management change within the finance division. On a constructive word, the corporate has maintained dividend funds for 37 consecutive years, demonstrating a dedication to shareholder returns even in periods of transition.

The corporate’s income for the final twelve months as of Q3 2024 stood at $787.08 million, reflecting a 19.01% decline. This knowledge level contextualizes the corporate’s reported gross sales of $872 million in 2023 talked about within the article, indicating latest challenges in income progress.

For traders in search of a extra complete evaluation, InvestingPro gives extra suggestions and insights. There are 5 extra InvestingPro Suggestions accessible for The Shyft Group, which may present beneficial steerage throughout this era of govt transition.

This text was generated with the help of AI and reviewed by an editor. For extra data see our T&C.

You Might Also Like

Joseph Safina’s Driven Becomes Amazon Bestseller, Blending High Finance with High Speeds

Fashion Designer Hyeonseo Irene Park: Redefining Menswear Through Originality and Collaboration

From Pattaya to the World: Bryan Flowers’ Unstoppable Rise as a Global Entrepreneur

Astana International Forum 2025: “Connecting Minds, Shaping the Future”

Investment success: GP Fatih Marketing Research Co LLC and the gold dream in Africa

TAGGED:CFODouyardgroupInvesting.comJonShyftSteps
Share This Article
Facebook Twitter Email Copy Link Print
Megan Thee Stallion Flaunts Main Underboob in Inexperienced Bikini
Entertainment

Megan Thee Stallion Flaunts Main Underboob in Inexperienced Bikini

Megan Thee Stallion Flaunts Main Underboob In Inexperienced Bikini! Revealed July 9, 2025 2:37 PM PDT Did somebody say "SAVAGE?!" Megan Thee Stallion is again at it with a poolside…

By Tycoon Herald 1 Min Read
What Guys Get Flawed About ‘Effortless’ Fashion | FashionBeans
July 10, 2025
FirstFT: Trump threatens to impose 50% tariff on Brazil
July 10, 2025
Veteran mining boss Friedland hails Trump’s ‘intelligent’ copper tariffs
July 10, 2025
‘Superman’ David Corenswet Trolls Lex Luthor Actor Nicholas Hoult
July 10, 2025

You Might Also Like

Gaza residents stream dwelling to the north after hostage breakthrough By Reuters
Business

Gaza residents stream dwelling to the north after hostage breakthrough By Reuters

By Tycoon Herald 6 Min Read
Greenback positive factors on tariffs fears; euro seems to be to ECB assembly By Investing.com
Business

Greenback positive factors on tariffs fears; euro seems to be to ECB assembly By Investing.com

By Tycoon Herald 5 Min Read
EQT Real Estate acquires 12-building logistics assemblage positioned in key Northern Italian submarkets By Investing.com
Business

EQT Real Estate acquires 12-building logistics assemblage positioned in key Northern Italian submarkets By Investing.com

By Tycoon Herald 4 Min Read

More Popular from Tycoon Herald

MEET THE FATHER OF COADUNATE ECONOMIC MODEL
BusinessTrending

MEET THE FATHER OF COADUNATE ECONOMIC MODEL

By Tycoon Herald 2 Min Read
Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

By Tycoon Herald
Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments
InnovationTrending

Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments

By Tycoon Herald 7 Min Read
Sports

Danielle Collins says choice to postpone retirement on account of fertility issues is ‘bittersweet’

Danielle Collins says her choice to postpone retirement on account of fertility points is "bittersweet".The previous Australian…

By Tycoon Herald
Sports

Chido Obi-Martin to Man Utd: Sixteen-year-old ahead confirms transfer after leaving Arsenal this summer season

Chido Obi-Martin has confirmed on his private social media account that he has joined Manchester United.The…

By Tycoon Herald
Trending

U.S. Blew Up a C.I.A. Post Used to Evacuate At-Risk Afghans

A controlled detonation by American forces that was heard throughout Kabul has destroyed Eagle Base, the…

By Tycoon Herald
Leadership

Northern Lights: 17 Best Places To See Them In 2021

Who doesn’t dream of seeing the northern lights? According to a new survey conducted by Hilton, 59% of Americans…

By Tycoon Herald
Real Estate

Exploring Bigfork, Montana: A Little Town On A Big Pond

Bigfork, Montana, offers picturesque paradise in the northern wilderness. National Parks Realty With the melting of…

By Tycoon Herald
Leadership

Leaders Need To Know Character Could Be Vital For Corporate Culture

Disney's unique culture encourages young employees to turn up for work with smiles on their faces.…

By Tycoon Herald
The Tycoon Herald

Tycoon Herald: Your instant connection to breaking stories and live updates. Stay informed with our real-time coverage across politics, tech, entertainment, and more. Your reliable source for 24/7 news.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Terms of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices
© Tycoon Herald. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?