ADT Announced Executive Vice President And CFO Ken Porpora, Will Step Down; To Depart At Year End; Jeff Likosar To Serve As Interim CFO
Portfolio Pulse from Benzinga Newsdesk
ADT Inc. has announced that Executive Vice President and CFO Ken Porpora will step down and depart at the end of the year. Jeff Likosar, currently President of Corporate Development and Chief Transformation Officer, will serve as interim CFO. Likosar has prior experience as ADT's CFO from 2017 to 2022. The company has initiated an external search for a new CFO.
December 20, 2023 | 9:15 pm
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ADT's CFO Ken Porpora is stepping down, with Jeff Likosar taking over as interim CFO. Likosar has previously held the CFO position, which may provide continuity. The company is searching for a new CFO.
The announcement of a CFO stepping down could introduce uncertainty, but the appointment of an experienced interim CFO, Jeff Likosar, who has previously served in the role, may mitigate market concerns. The impact on the stock price is likely to be neutral in the short term as the market absorbs the news and awaits the appointment of a permanent CFO.
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