Helen of Troy Ltd., a company that specializes in creating and distributing home and beauty products, recently announced that their Chief Financial Officer (CFO), Matt Osberg, will resign on April 27. According to the company’s statement, Osberg stated that he wanted to pursue another job opportunity that would keep him closer to his family in Minnesota. Despite his resignation, Helen of Troy ensures that Osberg will continue serving as the CFO until April 27, 2023. They expect that this date will coincide with the completion of the audit for the company’s fiscal year 2023 financial statements and the filing of their Form 10-K.
Brian Grass, a former CFO of the company, will replace Osberg as CFO. This transition will likely be a smooth one as Grass is familiar with how the company operates, having served as CFO from 2014 to 2017. Upon his return to the company, Grass will work alongside the outgoing CFO to ensure that the handover process is as seamless as possible.
Helen of Troy’s CEO, Julien Mininberg, had nothing but positive things to say about these changes. He believes that Osberg made a great contribution to the company during his tenure and wished him well in his future endeavors. Mininberg also expressed his excitement to welcome Brian Grass back as CFO.
In addition, this leadership shuffle does not seem to have affected Helen of Troy’s stock price negatively. In fact, the company’s stock has been on a good run, gaining over 32% YTD and nearly 75% over the past twelve months. This news should not have any significant impact on the company’s stock price or their ability to carry out their operations.
Overall, this change in leadership comes as a surprise to many, especially since Helen of Troy has been thriving under Osberg’s guidance. However, it is understandable that the CFO would want to move closer to his family, and the company has taken the appropriate measures to ensure that this transition goes smoothly with Brian Grass stepping into the role. As of now, Helen of Troy looks poised to continue on the path of success that they have been on for the past year.
