Monitor the Q3 2026 10-Q filing for any financial restatements or changes in accounting policies under the new CFO. The appointment ends a period where the CEO served as principal financial officer, which may improve governance perception.
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Executive Summary
Hyster-Yale appointed Matthew Cornell as Senior Vice President and CFO, effective November 1, 2026, with a transition period where CEO Rajiv Prasad remains principal financial officer until early November. The appointment fills a CFO role that had been held on an interim basis by the CEO since January 2026, and the new CFO brings experience from Stanley Black & Decker.
Key Facts
- Matthew Cornell appointed Senior Vice President, CFO, effective November 1, 2026
- CEO Rajiv Prasad will continue as principal financial officer until filing of Q3 2026 10-Q, then Cornell assumes role on November 4, 2026
- Cornell previously served as President and GM, Specialty Tools & Storage Solutions at Stanley Black & Decker (Oct 2022-Oct 2025) and CFO, Industrial Segment at Stanley (May 2020-Jun 2024)
- Initial base salary of $605,000 per year
- Annual target cash payout opportunity of 60% of role's salary midpoint ($626,800 for 2026) under Annual Incentive Plan
- Annual target equity payout opportunity of 90% of role's salary midpoint under Long-Term Equity Incentive Plan, paid 65% in restricted shares and 35% in cash
- Special sign-on cash bonus of $75,000 ($30,000 on first payroll, $45,000 upon relocation completion before August 1, 2027)
- One-time award of 3,500 shares of stock (plus 35% cash equivalent) under Supplemental Long-Term Equity Plan, fully vested with 5-year transfer restrictions
- Perquisite cash allowance of $20,000 per year
- Customary non-compete, confidentiality, and standard new hire terms apply
Financial Impact
New CFO compensation package includes $605,000 base salary, $75,000 sign-on bonus, and equity awards of 3,500 shares plus cash equivalent — routine executive hiring costs, no material impact on financials.
Risk Factors
- No risk of unexpected departure — this is a planned appointment filling a previously disclosed interim arrangement
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001173514-26-000233 |
| Document: 0001173514-26-000233-index-headers.html | 0001173514-26-000233 |
| Document: 0001173514-26-000233-index.html | 0001173514-26-000233 |
| Document: 0001173514-26-000233.txt | 0001173514-26-000233 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | 8-K | $29.21 | awaiting T+60 | — | $29.32 (+0.38%) |
Oct 1, 2026 26d ago | Press Release | $30.42 | awaiting T+60 | — | $29.32 (−3.62%) |
Sep 17, 2026 5w ago | Press Release | $33.29 | awaiting T+60 | — | $29.32 (−11.93%) |
Aug 12, 2026 10w ago | Press Release | $34.25 | awaiting T+60 | — | $29.32 (−14.39%) |
Aug 12, 2026 10w ago | Press Release | $34.25 | awaiting T+60 | — | $29.32 (−14.39%) |
Aug 4, 2026 11w ago | 8-K | $40.47 | awaiting T+60 | — | $29.32 (−27.55%) |
Aug 4, 2026 11w ago | 8-K | $40.47 | awaiting T+60 | — | $29.32 (−27.55%) |
Jun 17, 2026 18w ago | Insider Cluster | $37.35 $33.61 | ▼ −10.01% | ▼ −13.16% | $29.32 (−21.50%) |
Jun 17, 2026 18w ago | Insider Cluster | $37.35 $33.61 | ▼ −10.01% | ▼ −13.16% | $29.32 (−21.50%) |
May 19, 2026 23w ago | Press Release | $31.00 $34.39 | ▲ +10.94% | ▲ +4.65% | $29.32 (−5.42%) |
US Market Status
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