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FTV - Columbus McKinnon A Victim Of Its Own Success With An Unexpected CEO Transition
Fortive Corporation
Success is, on the whole, a good thing. Even so, it can create its own set of problems, and Columbus McKinnon (CMCO) shareholders are seeing that today (December 11), as the shares are selling off on the surprising announcement of the CEO’s resignation to take the top spot at Fortive’s (FTV) NewCo spinoff.
I believe the loss of Mark Morelli is a significant one, as he oversaw a transformational restructuring process (Blueprint for Growth) that has seen Columbus McKinnon slim down and focus on growth opportunities in material handling, and