Photronics Announces Chief Financial Officer John Jordan Retirement And Eric Rivera Appointed As Interim CFO
Portfolio Pulse from Benzinga Newsdesk
Photronics, Inc. (NASDAQ:PLAB) announced the retirement of CFO John Jordan, effective February 23, 2024. Jordan has been with the company since 2017 and contributed to its global expansion and capital allocation strategy. Eric Rivera, with the company since 2016 and currently the chief accounting officer, will serve as interim CFO upon Jordan's retirement. Rivera has extensive experience in accounting and financial reporting, including previous roles at IBM and Thompson Reuters.
January 23, 2024 | 2:01 pm
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Photronics CFO John Jordan is retiring, and Eric Rivera will take over as interim CFO. Rivera's experience and internal promotion may provide continuity in financial leadership.
CFO transitions can lead to short-term uncertainty, but since Eric Rivera is an internal promotion with significant experience, the impact is likely to be neutral. Investors may view the transition as a continuation of the current financial strategy, especially given Rivera's previous roles and familiarity with the company's operations.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80