C.H. Robinson Worldwide, Inc. (NASDAQ: CHRW) has announced the appointment of Damon Lee as its new Chief Financial Officer, following a comprehensive search for a candidate with proven leadership and strategic capabilities. Lee, currently serving as Vice President and CFO of GE Aerospace, Commercial Engines and Services, brings with him a wealth of experience and expertise in operational finance leadership.
Lee's tenure at GE has been marked by exceptional financial results and significant contributions to the company's transformation. With his deep experience in lean and continuous improvement, he is expected to reinforce C.H. Robinson's new operating model and execute the enterprise strategy. Lee's previous senior operational finance roles at organizations such as Aptiv, Precision Castparts, and Eaton have equipped him well for this new position.
Upon assuming the role of CFO, Lee will be tasked with furthering C.H. Robinson's transformation under the leadership of President and CEO Dave Bozeman. Lee's appointment is seen as a strategic move to align the company with high standards and a forward-thinking mindset. Meanwhile, the current CFO, Mike Zechmeister, will continue in his role until the 2024 second quarter Form 10-Q is filed, after which he plans to retire.
C.H. Robinson, a leading global logistics provider with $22 billion in freight under management and 19 million shipments annually, is poised to benefit from Lee's extensive experience and skills as it continues its commitment to innovation and expertise.
Damon Lee's appointment as CFO comes at a time when C.H. Robinson is focused on furthering its logistics leadership and executing its enterprise strategy, making his background and expertise crucial to the company's next steps in its transformation journey. The market has reacted to these announcements by moving the company's shares 0.2% to a price of $87.83. For the full picture, make sure to review C.H. Robinson Worldwide's 8-K report.
