Management ChangeJun 3, 2026, 04:37 PM
MillerKnoll CEO Andi Owen to Retire; Jeff Stutz Named Interim CEO
AI Summary
MillerKnoll, Inc. announced that President and CEO Andi R. Owen will retire effective June 30, 2026, by mutual agreement with the Board. Jeff Stutz, the current Chief Operating Officer, has been appointed to perform CEO duties during Ms. Owen's leave of absence and will become Interim Chief Executive Officer on June 30, 2026. The company also detailed compensation arrangements for Mr. Stutz, including an annual base salary of $900,000, and severance for Ms. Owen. Additionally, the Board decreased its size from eleven to ten directors, and the company reiterated its fiscal 2026 fourth-quarter outlook.
Key Highlights
- Andi Owen to retire as President and CEO of MillerKnoll effective June 30, 2026.
- Jeff Stutz, COO, appointed Interim Chief Executive Officer effective June 30, 2026.
- Mr. Stutz's annual base salary as Interim CEO will be $900,000.
- Mr. Stutz is eligible for an annual bonus target of 125% of base salary.
- Mr. Stutz is eligible for an annual equity incentive target of 325% of base salary.
- Ms. Owen will receive severance of 18 months of base salary and up to 18 months of health benefits.
- The Board of Directors decreased its size from eleven to ten directors.
- MillerKnoll reiterates its fiscal 2026 fourth-quarter outlook.
Price Impact