Middleby Appoints Internal Veteran Brittany Cerwin as CFO; Former CFO Transitions to Spin-Off Advisor

summarizeSummary

Middleby Corporation announced the appointment of Brittany Cerwin, its Chief Accounting Officer, as the new Chief Financial Officer, while former CFO Bryan Mittelman transitions to a Special Advisor role focused on the upcoming Food Processing business spin-off.

check_boxKey Events

• New Chief Financial Officer Appointed

  Brittany Cerwin, previously Chief Accounting Officer, has been promoted to Chief Financial Officer, effective immediately. Ms. Cerwin has been with Middleby for over a decade in various accounting and finance roles.

• Former CFO Transitions to Special Advisor Role

  Bryan E. Mittelman, the former CFO, will transition to a non-officer position as Special Advisor to the Chief Executive Officer, focusing exclusively on the completion of the previously announced spin-off of the Food Processing business.

• Transition and Separation Agreement Detailed

  Mr. Mittelman will continue to receive his current base salary of $566,500 per year during his advisory period, receive a one-time bonus of $283,250, and be eligible for severance benefits including 12 months of base salary ($566,500) and pro-rata equity vesting upon the conclusion of his advisory period.

auto_awesomeAnalysis

This filing details a significant executive leadership change at Middleby, with an internal promotion to CFO ensuring continuity. The transition of the former CFO to a dedicated advisory role for the Food Processing business spin-off highlights the company's strategic focus on its portfolio transformation. This move provides clarity on leadership during a pivotal period for the company as it prepares for a major corporate event, following the news reported earlier today.