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    Fortive Corp (FTV)

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    Fortive Corporation is a provider of essential technologies for connected workflow solutions across various attractive end-markets, operating through three strategic segments: Intelligent Operating Solutions (IOS), Precision Technologies (PT), and Advanced Healthcare Solutions (AHS) . The company offers advanced instrumentation, software, and services that enable mission-critical workflows in industries such as manufacturing, healthcare, and utilities . Fortive's global operational footprint is highlighted by deriving approximately 46% of its sales from customers outside the United States .

    1. Intelligent Operating Solutions (IOS) - Offers advanced instrumentation, software, and services that enable mission-critical workflows, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety solutions, serving industries such as manufacturing, healthcare, and utilities .
    2. Precision Technologies (PT) - Focuses on solving technical challenges with products like electrical test and measurement and sensing technologies, catering to industries such as automotive, aerospace, and energy .
    3. Advanced Healthcare Solutions (AHS) - Provides critical workflow solutions for healthcare providers, including instrument sterilization, biomedical test tools, and clinical productivity software, ensuring safety and efficiency in healthcare environments .
    NamePositionStart DateShort Bio
    James A. LicoPresident and CEO (Retiring upon spin-off completion)July 2016James A. Lico has served as the President and CEO of Fortive Corporation since July 2016. He previously held leadership roles at Danaher Corporation, including Executive Vice President from 2005 to 2016. He will retire after the spin-off .
    Charles E. McLaughlinSenior Vice President and CFO (Retiring by end of Q1 2025)July 2016Charles E. McLaughlin has been the Senior Vice President and CFO of Fortive since July 2016. He was previously the Senior Vice President-Diagnostics Group CFO at Danaher. He plans to retire by the end of Q1 2025 .
    Tamara S. NewcombePresident and CEO of Precision Technologies and Advanced Healthcare Solutions; Upcoming President and CEO of NewCoJanuary 2022 (Precision Technologies), June 2023 (Advanced Healthcare Solutions)Tami Newcombe has been President and CEO of Precision Technologies since January 2022 and Advanced Healthcare Solutions since June 2023. She will become President and CEO of NewCo after the spin-off .
    Jonathan L. SchwarzSenior Vice President, Corporate DevelopmentFebruary 2021Jonathan L. Schwarz has served as Senior Vice President, Corporate Development at Fortive since February 2021. He was previously Vice President, Strategy and Corporate Development .
    Edward R. SimmonsSenior Vice President, StrategyFebruary 2021Edward R. Simmons has been Senior Vice President, Strategy at Fortive since February 2021. He was formerly President of Vista Consulting Group at Vista Equity Partners .
    Olumide SoroyePresident and CEO of Intelligent Operating Solutions; Upcoming President and CEO of FortiveAugust 2021Olumide Soroye has been President and CEO of Intelligent Operating Solutions since August 2021. He will become President and CEO of Fortive following the spin-off .
    Peter C. UnderwoodSenior Vice President, General CounselMay 2016Peter C. Underwood has served as Senior Vice President, General Counsel of Fortive since May 2016. He was previously Vice President, General Counsel, and Secretary of Regal Beloit Corporation .
    Stacey A. WalkerSenior Vice President, Human ResourcesJuly 2016Stacey A. Walker has been Senior Vice President, Human Resources of Fortive since July 2016. She held various positions at Danaher, including Vice President-Talent Management .
    1. Given the rise of cheaper AI-enabled products posing risks of churn and disintermediation, particularly for Accruent and ServiceChannel, what specific strategies are you implementing to protect and enhance your competitive position in the software market?

    2. With the Precision Technologies segment facing headwinds from customer caution and macro uncertainty leading to OEM and channel weakness, can you elaborate on how you plan to counter these challenges and what gives you confidence in projecting order growth in the second half?

    3. Your forecast shows a significant sequential margin increase from Q3 to Q4, rising from 27% to over 29%; what are the key drivers behind this expected margin expansion, and how are you mitigating the risks that could prevent you from achieving it?

    4. Regarding your capital deployment plans, including M&A and share buybacks, how do you intend to reach your five-year accretion targets by 2025, and can you achieve these goals without a significant change in your current capital allocation strategy?

    5. Considering that increased R&D investments are impacting margins without immediate growth benefits, when do you anticipate these investments will translate into meaningful revenue contributions, and how does this timing align with your overall strategic objectives?

    Program DetailsProgram 1
    Approval DateFebruary 17, 2022
    End Date/DurationNo expiration date
    Total additional amount20 million shares initially, increased by 11 million shares on January 23, 2024
    Remaining authorization amount14.2 million shares as of September 27, 2024
    DetailsThe program may be suspended or discontinued at any time by the Board of Directors
    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
    2024$408.1 Current Portion of Long-Term DebtN/A10.6% = (408.1 / 3,859.9) * 100
    2025$408.3 Euro Term Loan + Yen Term LoanN/A10.6% = (408.3 / 3,859.9) * 100
    2026$1,458.1 3.7% Euro Notes + 3.15% Senior Notes3.7% / 3.15% 37.8% = (1,458.1 / 3,859.9) * 100
    2029$781.3 3.7% Euro-Denominated Senior Notes3.7% 20.2% = (781.3 / 3,859.9) * 100
    2046$550.0 4.30% Senior Unsecured Notes4.30% 14.3% = (550.0 / 3,859.9) * 100
    NameStart DateEnd DateReason for Change
    Ernst & Young LLP2015 PresentCurrent auditor

    Recent developments and announcements about FTV.

    Corporate Leadership

      Leadership Change

      ·
      7 days ago

      Who is leaving? Alan G. Spoon, a director of Fortive Corporation, is retiring and will not stand for re-election at the 2025 Annual Meeting on June 3, 2025. His decision is not due to any disagreements with the company.

      Who is stepping up? Sharmistha Dubey, an independent director, has been appointed as the new Chair of the Board, effective January 28, 2025.