Tuesday, June 25, 2024
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
A CFO Change. Yesterday, NN, Inc. announced the appointment of Chris Bohnert as Chief Financial Officer, effective June 25, 2024. Mr. Bohnert assumes the position from Mike Felcher, who will stay on as a consultant, most likely through the second quarter reporting season.
Why? In a word, experience. According to management, NN needed a “been there, done that” to of finance person and Mr. Bohnert’s background fit the bill. Mr. Bohnert had been working with NN on an advisory basis in the refinancing process and previously worked with CEO Harold Bevis at Commercial Vehicle Group (CVG). We believe his appointment will enable CEO Bevis to push for faster change, both operationally and financially.
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