The Shyft Group (NASDAQ: SHYF), a leader in specialty vehicle manufacturing, announced today the termination of Colin Hindman, the company's Chief Human Resources Officer (CHRO). The Board of Directors made the decision to end Mr. Hindman's employment without cause, effective June 14, 2024.
Mr. Hindman will step down from his officer role today, transitioning his responsibilities over the next two weeks. Per the company's Executive Severance Plan, he is set to receive his entitled compensation and benefits for a termination without cause. The specifics of his departure, including any additional terms, will be outlined in a forthcoming transition and separation agreement.
The Shyft Group has not yet named a successor for the CHRO position. The company's plan for transitioning Mr. Hindman's duties and the appointment of a new officer will be observed closely by investors and industry analysts.
Details regarding the termination and transition terms will be confirmed once the company enters into the separation agreement with Mr. Hindman. This move comes as part of The Shyft Group's ongoing organizational management and has been officially reported in a recent SEC filing. The filing provides the basis for this information, ensuring transparency for stakeholders and the public.
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