Argan, Inc. (NYSE: AGX) has announced the retirement of its Chief Financial Officer, Richard H. Deily, effective September 15, 2024. Deily, 71, has had a distinguished 40-year career in senior financial management, including a 17-year tenure with the company. He joined Argan in October 2007 as Corporate Controller and became Vice President, Corporate Controller in January 2015. Before joining Argan, Deily held senior financial management roles with publicly traded companies in various industries.
Josh Baugher, who has been serving as Vice President and Corporate Controller for Argan since 2022, will succeed Deily as Chief Financial Officer. Baugher brings nearly 20 years of financial leadership, strategic insight, and accounting experience to the role. Before joining Argan, he oversaw financial reporting and technical accounting at Charles River Associates, an international consulting firm. Baugher is a licensed Certified Public Accountant in the state of Maryland and holds a Bachelor of Science degree in accounting from George Mason University.
During his tenure, Deily has been integral to the creation of a first-in-class finance organization at Argan. As a testament to his commitment and loyalty, he will continue to help in a reduced role to ensure a successful transition. David Watson, President and Chief Executive Officer of Argan, expressed gratitude for Deily's valuable contributions and wished him well in his retirement. Watson also expressed confidence in Baugher's appointment, highlighting his strong financial accounting and reporting skills and his understanding of Argan's priorities.
The announcement comes with the change in leadership, signaling a period of transition for the company's finance function. It also reflects the strength of the finance team and the company's thoughtful succession planning. As Argan prepares for this leadership transition, stakeholders will be closely watching how Baugher's appointment as CFO will impact the company's financial performance and strategies in the upcoming periods. Following these announcements, the company's shares moved 1.9%, and are now trading at a price of $73.55. If you want to know more, read the company's complete 8-K report here.
