MillerKnoll Names Jeff Stutz Permanent CEO With $1M Salary and $4M LTI Target
MLKN sits 54% above its 52-week low of $13.773.
Summary
MillerKnoll made Jeff Stutz permanent CEO after his interim stint since June 2026, disclosing a $1M salary, $4M long-term incentive target and richer change-in-control severance. The move removes leadership uncertainty and signals continuity with the margin and earnings improvement seen under his interim tenure.
Key Events · Executive and Board Changes · MLKN
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Stutz Appointed Permanent CEO
The board unanimously named Jeff Stutz CEO and a director effective October 21, 2026, ending his interim role that began June 30, 2026. To accommodate him, the board expanded from ten to eleven seats.
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Compensation Package Disclosed
The package includes a $1,000,000 base salary, a 125% annual bonus target ($1.25M) and a 400% long-term incentive target ($4.0M). A one-time step-up grant of $1,075,000 (60% PSUs, 40% RSUs) bridges his July 2026 grant to the new target.
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Change-in-Control Severance Raised
His Management Continuity Agreement was amended to lift the cash severance multiple from 2x to 3x and extend benefits continuation from 24 to 36 months, matching the prior CEO's terms. Non-CIC severance is 18 months of salary and benefits.
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Board Cites Interim-Period Results
Chairman John Hoke credited Stutz with driving stronger operating income, margins and earnings during his interim tenure, and said a rigorous search concluded he was the right leader.
Analysis · MLKN · Manufacturing
The board's unanimous decision to make Jeff Stutz permanent CEO removes the leadership uncertainty that has hung over the stock since he took the interim role on June 30, 2026. His disclosed pay package — $1M base, a $1.25M target bonus, a $4M annual equity target and a $1.075M step-up grant — is standard for a company this size and does not change the cost picture. More notable is the amended change-in-control agreement, which lifts his cash severance from 2x to 3x and extends benefits to 36 months, matching what the prior CEO received. With the board citing stronger operating income, margins and earnings under his interim tenure, the appointment reads as continuity rather than a strategic reset.
How filings like this one have moved
In the 30 days to Oct 21, 2026, 29.1% of the 1527 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, MLKN was trading at $21.27 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $1.5B. The 52-week trading range was $13.77 to $24.71. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.