Fortive (FTV) appoints Mark Okerstrom as CFO

Fortive Corporation ("Fortive") (NYSE: FTV) today announced that Mark Okerstrom has been appointed Chief Financial Officer, effective March 24, 2025. Mr. Okerstrom will succeed Chuck E. McLaughlin who, as previously announced, will be retiring from his role as CFO on March 24, 2025 but will continue to serve in a non-executive officer role through the end of the year to assist with the transition and ensure continuity.

Mr. Okerstrom is an accomplished executive with a strong track record of shareholder value creation as a public company CFO, with demonstrated experience in accelerating profitable organic growth and deep expertise in disciplined capital allocation and bolt-on M&A strategies. Over the course of more than 13 years at Expedia Group, Inc. Mark held a variety of senior executive roles including SVP of Corporate Development, where he oversaw Expedia’s corporate strategy and M&A activity globally, Chief Financial Officer, EVP of Operations and ultimately President and CEO. As CFO, a role he held for 6 years before being promoted to CEO, Mark had responsibility for all aspects of finance, including planning and analysis, accounting, tax, treasury, internal audit, procurement, real estate and investor relations, as well as corporate strategy and M&A. Mr. Okerstrom was recognized by Institutional Investor Magazine as one of the Top 3 public company CFOs in the Internet sector for three consecutive years (2016, 2017, and 2018). He holds an MBA from Harvard Business School and a JD from the University of British Columbia. He will be based at Fortive’s headquarters in Everett, Washington.

James A. Lico, President and Chief Executive Officer, stated, “We are fortunate to have a leader of Mark’s acumen and caliber step into the CFO role at Fortive, following a thoughtful and thorough search to identify the best candidate. Mark is a proven public company CFO who has overseen significant shareholder value creation through disciplined profitable growth, innovation, and returns-focused capital allocation. Throughout his career, he has manifested the learning agility, strategic thinking, operational rigor, and results-orientation necessary to thrive as a Fortive Business System leader.”

Olumide Soroye, CEO designate of Fortive, said, “I am thrilled to welcome Mark to the Fortive team at this exciting time in our history. He will be a great partner as we execute on greater innovation for our customers, faster profitable growth, disciplined capital allocation, consistent delivery to expectations, and an outstanding culture and workplace experience for all our employees. In addition to his impressive financial skillset, his strategic and operational experiences will be instrumental to unlocking the full potential of new Fortive as a high-quality industrial and healthcare technology growth compounder.”

Mr. Lico continued, “We are grateful to Chuck for his dedicated service to Fortive over the past nine years, including supporting our transition to two high-quality growth companies. He has played an important role in our improved profitability and best-in-class working capital efficiency and spearheaded the development of talent within the finance function, which will continue to see benefits in the years to come.”

Mr. Okerstrom stated, “I have long admired Fortive’s portfolio of businesses and its track record of delivering differentiated operational and financial results through the Fortive Business System. The opportunity to help unlock the full potential of such a great organization was very attractive to me. I am thrilled to become part of this fantastic team, working with Jim, Olumide, the Board, the management team, and the entire Fortive organization to help steward the execution of strategic and capital allocation initiatives that drive durable and profitable growth and create significant value for all stakeholders.”

You May Also Be Interested In