Forgent Power Solutions Inc. (NYSE: FPS) stock plunged more than 24% Thursday after the electrical distribution equipment manufacturer announced a chief financial officer transition.

Forgent Names Amy Ard As New CFO

Forgent said Chief Financial Officer Ryan Fiedler will step down and move into an external consulting role to spend more time with his family.

The company's board appointed Amy Ard, its executive vice president of finance, to succeed Fiedler.

Fiedler helped strengthen Forgent's finance operations and guided the company through its initial public offering and record fiscal 2026.

He will work closely with Ard over the coming weeks to ensure a smooth transition.

Fiedler expressed confidence in the finance team's ability to support Forgent's next phase of growth.

New CFO Brings Over 25 Years Of Experience

Ard has served as executive vice president of finance since January, overseeing financial planning, reporting, treasury and operational finance.

She joined Forgent's leadership team at its founding and played a key role in preparing the company for its IPO, including establishing financial reporting and governance processes.

Ard brings more than 25 years of senior finance and accounting experience across public and private companies. She began her career at PricewaterhouseCoopers.

CEO Gary Niederpruem thanked Fiedler for his contributions and expressed confidence in Ard's ability to guide Forgent's financial strategy.

Niederpruem highlighted Ard's operational finance expertise and her role in supporting the company's growth.

Forgent designs and manufactures customized electrical distribution equipment for data centers, power grids and energy-intensive industrial facilities.

Forgent Power Solutions Price Action

FPS Price Action: Forgent Power Solutions shares were down 24.34% at $24.03 at the time of publication Thursday. The stock is trading at a new 52-week low, according to market data.

Trading volume reached 23.98 million shares, compared with its 100-day average of 8.19 million shares.