Cintas Corporation (NASDAQ: CTAS) has announced an executive transition with Mike Hansen retiring from his role as Executive Vice President & Chief Financial Officer (CFO) and transitioning to a new role as Assistant to the CEO, effective May 31, 2025. Scott Garula, currently President of Cintas' Rental Division, will succeed Hansen as Executive Vice President & CFO.
Hansen has served as CFO for the past 10 years, a period that has seen outstanding performance and value creation. During his tenure, Cintas has achieved significant financial success and value creation, contributing to the company's strong financial position.
Scott Garula, who joined Cintas in 1996 as an accountant, has held various leadership positions within the company. He has served in key roles within the Finance team and was President of First Aid & Safety and Fire Protection before becoming President of the Rental Division. Garula's deep understanding of Cintas' business and his strong track record in financial management and operational leadership make him well-suited to serve as the Company’s next CFO.
Cintas President & CEO, Todd Schneider, emphasized the importance of continuity of leadership and a thoughtful succession process, expressing confidence in Garula's ability to support the company's continued growth and shareholder value creation.
The press release did not provide specific financial metrics or comparisons for the company's performance during Hansen's tenure as CFO, neither did it provide specific goals or targets for Garula in his new role. Today the company's shares have moved -5.6% to a price of $193.47. For more information, read the company's full 8-K submission here.
