NOVI–The Novi-based specialty vehicle manufacturer Shyft Group Inc. (NASDAQ: SHYF) announced that Jon Douyard has resigned as Chief Financial Officer to pursue another professional opportunity outside the industry. He will continue to serve as CFO until Dec. 31.
“On behalf of our employees, executive leadership team, and Board of Directors, I want to thank Jon for his nearly five years of leadership at Shyft,” said John Dunn, Shyft president and CEO. “As CFO, Jon has instilled financial discipline, maintained a strong balance sheet, and driven growth. I am personally grateful for his partnership and contributions, which have strengthened Shyft and positioned the Company for continued success. We wish Jon the very best in the next chapter of his career.”
Said Douyard: “It has been a privilege to serve as Shyft’s CFO. Together with highly talented employees, we have made meaningful organic and inorganic investments in our future. I am confident this team is well-equipped to continue driving Shyft’s growth and success.”
Shyft’s board of directors is commencing a comprehensive search for a new CFO, supported by a leading, independent executive search firm. The Company is considering both internal and external succession candidates.
Shyft supplies delivery companies, the trades, and utility and infrastructure industry customers’ needs with specialty vehicle assembly and upfit. It has two business units: Shyft Fleet Vehicles and Services and Shyft Specialty Vehicles. Its brands Utilimaster, Blue Arc EV Solutions, Royal Truck Body, DuraMag, Magnum, Strobes-R-Us, Spartan RV Chassis, Red Diamond Aftermarket Solutions, Builtmore Contract Manufacturing, and Independent Truck Upfitters. The company has approximately 3,000 employees and operates plants and centers in Arizona, California, Florida, Indiana, Iowa, Maine, Michigan, Missouri, Pennsylvania, Tennessee, Texas, and Saltillo, Mexico. The company reported sales of $872 million in 2023. Learn more at TheShyftGroup.com.