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Manitowoc Foodservice, Inc., which is changing its name to Welbilt, Inc. effective March 6, announced John O. Stewart, senior vice president and chief financial officer will retire by the end of April 2017. Stewart, 58, joined MFS/Welbilt in 2015 when it was a subsidiary of the Manitowoc Company to oversee the spin-off from the former parent.
“John and I have decided that with the spin-off successfully completed and the groundwork laid for the next stage of our journey, now is the right time for John to retire from MFS/Welbilt,” says Hubertus Muehlhaeuser, Manitowoc Foodservice/Welbilt’s president and CEO. “John was instrumental to our successful spin-off. He has built a fantastic team and his leadership has been an invaluable help to me as we raised our debt, communicated our story to investors and dealt with all the challenges of being a new public company.”
The company has initiated a search for John’s successor and will consider both internal and external candidates.
“I am pleased that John has agreed to stay on until the end of April to assist in the search for his replacement and ensure a smooth transition. I’d like to thank John for all of his efforts to get us through the spin-off and through the challenges of our first year as a standalone public company. I wish him well in his future endeavors,” says Muehlhaeuser.