Management ChangeOct 21, 2026, 08:06 AM
MillerKnoll Appoints Jeff Stutz CEO; Base Salary $1M, Equity Grant $1.075M
AI Summary
MillerKnoll, Inc. announced the appointment of Jeff Stutz as Chief Executive Officer and a member of the Board, effective October 21, 2026. Stutz, who previously served as Interim CEO, will receive an annual base salary of $1,000,000, with target opportunities of 125% for the annual incentive plan and 400% for the long-term incentive plan. He will also receive a one-time equity grant valued at $1,075,000. The company also amended Stutz's Management Continuity Agreement to enhance severance benefits.
Key Highlights
- Jeff Stutz appointed Chief Executive Officer and Board member of MillerKnoll, Inc.
- Stutz's annual base salary set at $1,000,000.
- Annual incentive plan target opportunity at 125% of base salary.
- Long-term incentive plan target opportunity at 400% of base salary.
- One-time equity grant of $1,075,000 to be issued.
- Severance terms include 18 months base and benefits continuation if terminated without cause or for good reason.
- Management Continuity Agreement amended to increase severance multiple to three times and benefits continuation to 36 months post-change in control.
Price Impact
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