Hillenbrand Announces CFO Transition Plan

Rhea-AI Summary

Hillenbrand (NYSE: HI) announced that CFO Robert "Bob" VanHimbergen will depart the company effective June 27, 2025, to pursue another opportunity. Megan Walke, current Vice President, Corporate Controller and Chief Accounting Officer, will serve as Interim CFO. Walke brings 14 years of experience at Hillenbrand and previously worked in public accounting for nine years. The company has engaged an executive search firm to find a permanent CFO replacement.

VanHimbergen served as CFO for three years, contributing to Hillenbrand's transformation into a pure-play industrial company. The company, which specializes in highly-engineered processing equipment and solutions for durable plastics, food, and recycling industries, remains focused on executing its strategy through its industry-leading brands.

Positive

• Smooth transition plan with experienced internal candidate Megan Walke (14 years at Hillenbrand) stepping in as Interim CFO
• Successful transformation into a pure-play industrial company completed during VanHimbergen's tenure
• Professional executive search firm engaged to ensure qualified permanent CFO selection

Negative

• Unexpected departure of CFO creating potential leadership uncertainty
• Third leadership transition in three years requiring new search and adaptation period

News Market Reaction – HI

-4.57%

1 alert

-4.57% News Effect

On the day this news was published, HI declined 4.57%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

BATESVILLE, Ind., May 15, 2025 /PRNewswire/ -- Hillenbrand, Inc. (NYSE: HI) announced today that Robert "Bob" VanHimbergen, Senior Vice President and Chief Financial Officer, has decided to take another position outside of the company, effective June 27, 2025.

Upon Mr. VanHimbergen's departure, Megan Walke, Vice President, Corporate Controller and Chief Accounting Officer (CAO), will serve as Interim CFO. Ms. Walke has been with Hillenbrand for 14 years, holding key financial leadership roles, including as CAO since May 2022, and formerly worked in public accounting for nine years. The company has engaged a leading executive search firm to conduct a comprehensive search for a permanent CFO.

"We appreciate Bob's leadership over the past three years, including his contributions in transforming Hillenbrand into a pure-play industrial company," said Kim Ryan, President and CEO, Hillenbrand. "As a result of our team's collective efforts, Hillenbrand is well positioned to execute our strategy due to the competitive positioning of our industry-leading brands. Bob will continue in his role through the end of June and is committed to working closely with Megan to ensure an orderly transition as we continue the search for our next CFO." 

Forward-Looking Statements

Throughout this press release, we make a number of "forward-looking statements," including statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, and that are intended to be covered by the safe harbor provided under these sections. These are statements about future sales, earnings, cash flow, results of operations, uses of cash, financings, share repurchases, ability to meet deleveraging goals, and other measures of financial performance or potential future plans or events, strategies, objectives, beliefs, prospects, assumptions, expectations, and projected costs or savings or transactions of the Company that might or might not happen in the future, as contrasted with historical information. Forward-looking statements are based on assumptions that we believe are reasonable, but by their very nature are subject to a wide range of risks. If our assumptions prove inaccurate or unknown risks and uncertainties materialize, actual results could vary materially from Hillenbrand's expectations and projections.

The following list, though not exhaustive, contains words that indicate a forward-looking statement: 

intend	believe	plan	expect	may	goal	would	project	position	future	outlook
become	pursue	estimate	will	forecast	continue	could	anticipate	remain	likely
target	encourage	promise	improve	progress	potential	should	impact	strategy	assume

Any number of factors, many of which are beyond our control, could cause our performance to differ significantly from what is described in the forward-looking statements. These factors include, but are not limited to: global market and economic conditions, including those related to the continued volatility in the financial markets, including as a result of the United States ("U.S.") presidential election and the new U.S. administration's recently announced tariffs and changed trade policies; the risk of business disruptions associated with information technology, cyber-attacks, or catastrophic losses affecting infrastructure; increasing competition for highly skilled and talented workers, as well as labor shortages; closures or slowdowns and changes in labor costs and labor difficulties; uncertainty related to environmental regulation and industry standards, as well as physical risks of climate change; uncertainty related to environmental regulation; increased costs, poor quality, or unavailability of raw materials or certain outsourced services and supply chain disruptions; economic and financial conditions including volatility in interest and exchange rates, commodity and equity prices and the value of financial assets; uncertainty in U.S. global trade policy and risks with governmental instability in certain parts of the world such as Germany; our level of international sales and operations; negative effects of acquisitions, including the Schenck Process Food and Performance Materials ("FPM") business and Linxis Group SAS ("Linxis") acquisitions, on the Company's business, financial condition, results of operations and financial performance; competition in the industries in which we operate, including on price; cyclical demand for industrial capital goods; the ability to recognize the benefits of any acquisition or divestiture, including the Milacron injection molding and extrusion business sale or the TerraSource transaction (the "Transactions"), including potential synergies and cost savings or the failure of the Company or any acquired company, or the Transactions, to achieve its plans and objectives generally; any strategic and operational initiatives implemented by the parties after the consummation of the Transactions; potential adverse effects of the announcement or results of the Transactions on the market price of the Company's common stock or on the ability of the Company to develop and maintain relationships with its personnel and customers, suppliers and others with whom it does business or otherwise on the Company's business, financial condition, results of operations and financial performance; risks related to diversion of management's attention from our ongoing business operations due to the Transactions; impacts of decreases in demand or changes in technological advances, laws, or regulation on the net revenues that we derive from the plastics industry; the impact to the Company's effective tax rate of changes in the mix of earnings or in tax laws and certain other tax-related matters; exposure to tax uncertainties and audits; involvement in claims, lawsuits, and governmental proceedings related to operations; uncertainty in the U.S. political and regulatory environment, including as a result of the U.S. presidential election and any proposed tariffs; adverse foreign currency fluctuations; and labor disruptions. 

Shareholders, potential investors, and other readers are urged to consider these risks and uncertainties in evaluating forward-looking statements and are cautioned not to place undue reliance on the forward-looking statements. For a more in-depth discussion of certain factors that could cause actual results to differ from those contained in forward-looking statements, see the discussions under the heading "Risk Factors" in Part I, Item 1A of Hillenbrand's Form 10-K for the year ended September 30, 2024, filed with the SEC on November 19, 2024, and in Part II, Item 1A of Hillenbrand's Form 10-Q for the quarter ended March 31, 2025, filed with the SEC on April 29, 2025. The forward-looking information in this release speaks only as of the date on which it is made. We undertake no obligation to publicly update or revise any forward-looking statement, whether written or oral, made to reflect new information, future developments or otherwise. 

About Hillenbrand

Hillenbrand (NYSE: HI) is a global industrial company that provides highly-engineered, mission-critical processing equipment and solutions to customers around the world. Our portfolio is composed of leading industrial brands that serve large, attractive end markets, including durable plastics, food, and recycling. Guided by our Purpose — Shape What Matters For Tomorrow™ — we pursue excellence, collaboration, and innovation to consistently shape solutions that best serve our people, our customers, and our communities. To learn more, visit: www.Hillenbrand.com. 

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SOURCE Hillenbrand

FAQ

Who is replacing Bob VanHimbergen as Hillenbrand's CFO?

Megan Walke, current Vice President, Corporate Controller and Chief Accounting Officer, will serve as Interim CFO while the company searches for a permanent replacement.

When is Hillenbrand's CFO Bob VanHimbergen leaving?

Bob VanHimbergen will leave Hillenbrand effective June 27, 2025.

What experience does Hillenbrand's interim CFO Megan Walke have?

Megan Walke has 14 years of experience at Hillenbrand, serving as CAO since May 2022, and previously worked in public accounting for nine years.

What industries does Hillenbrand (HI) operate in?

Hillenbrand operates as a pure-play industrial company providing highly-engineered processing equipment and solutions for durable plastics, food, and recycling industries.

What major transformation did Hillenbrand complete under VanHimbergen?

Under VanHimbergen's three-year tenure, Hillenbrand completed its transformation into a pure-play industrial company.