Vertiv (NYSE: VRT) has announced the retirement of its Chief Financial Officer, David Fallon, who has served in the position since 2017. A successor is expected to be named and assume the role in the second half of 2025. Following his retirement, Fallon will continue to support the company as a consultant through December 31, 2026, to ensure a smooth transition.
Under Fallon's leadership, Vertiv has achieved significant growth and redefined its financial operations. The company's CEO, Giordano Albertazzi, expressed gratitude for Fallon's contributions to the company's transformation and financial performance, highlighting his instrumental role in driving sustained growth.
Additionally, Vertiv reaffirmed its second quarter and full-year 2025 guidance, maintaining the same tariff and other assumptions previously disclosed in the company's first-quarter 2025 earnings release issued on April 23, 2025. The company's outlook reflects robust momentum in the data center market, evidenced by pipeline growth and strong AI-driven demand. Vertiv continues to invest in engineering, research, and development (ER&D) and capacity expansion to support industry needs, particularly in AI infrastructure deployments, and is exploring various acquisition and strategic opportunities.
Despite a fluid tariff situation, Vertiv is actively working to mitigate potential impacts with supply chain countermeasures, production flexibility, and commercial actions. The company's guidance factors in the potential impacts of the tariff rates existing as of April 22, 2025, and assumes that these rates will continue throughout 2025.
Vertiv, a global provider of critical digital infrastructure and continuity solutions, brings together hardware, software, analytics, and ongoing services to enable its customers' vital applications to run continuously, perform optimally, and grow with their business needs. The company's portfolio includes power, cooling, and IT infrastructure solutions and services that extend from the cloud to the edge of the network. Headquartered in Westerville, Ohio, USA, Vertiv operates in more than 130 countries. The market has reacted to these announcements by moving the company's shares -0.72% to a price of $108.995. Check out the company's full 8-K submission here.
