Fortive Corporation has announced that Mark Okerstrom will take over as the company’s Chief Financial Officer (CFO), starting on March 24, 2025. Okerstrom will succeed Chuck E. McLaughlin, who will retire from the CFO role on the same day. However, McLaughlin will remain with the company in a non-executive capacity until the end of the year to ensure a smooth transition.
Okerstrom brings a wealth of experience and a proven history of driving shareholder value in his previous roles, including a long tenure at Expedia Group, Inc. Over his 13+ years at Expedia, Okerstrom held several senior executive roles, including SVP of Corporate Development, where he led corporate strategy and mergers & acquisitions globally, and CFO for six years before advancing to CEO. During his time as CFO, he managed various finance functions, including planning and analysis, accounting, tax, and treasury, while also overseeing corporate strategy and M&A efforts.
Recognized by Institutional Investor Magazine as one of the top three public company CFOs in the Internet sector for three years in a row, Okerstrom holds an MBA from Harvard Business School and a JD from the University of British Columbia. He will be based at Fortive’s headquarters in Everett, Washington.
James A. Lico, President and CEO of Fortive, shared, “We are fortunate to have a leader of Mark’s acumen and caliber step into the CFO role at Fortive, following a thoughtful and thorough search to identify the best candidate. Mark is a proven public company CFO who has overseen significant shareholder value creation through disciplined profitable growth, innovation, and returns-focused capital allocation.”
Olumide Soroye, CEO designate of Fortive, added, “I am thrilled to welcome Mark to the Fortive team at this exciting time in our history. He will be a great partner as we focus on greater innovation, faster growth, disciplined capital allocation, and maintaining a strong workplace culture.”
Mr. Lico continued, “We are grateful to Chuck for his dedicated service to Fortive over the past nine years, including supporting our transition into two high-growth companies. He has played a vital role in improving profitability and efficiency.”
Okerstrom shared his excitement about joining the Fortive team: “I have long admired Fortive’s portfolio of businesses and its track record of delivering operational and financial results. I am thrilled to join this team and work with everyone to help drive profitable growth and create value for all stakeholders.”
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