Methode Electronics Q4 net loss $57.3M, goodwill impairment $49.4M; guidance cautious

METHODE ELECTRONICS INC

Net sales $277.3M vs $301.2M YoY; adjusted EPS loss $0.23 vs $0.22 gain.
Automotive segment sales down 21.6% to $145.9M; $49.4M goodwill impairment in North America.
Appointed David Rawden as interim CFO effective July 12, 2024 upon Tsoumas retirement.
Fiscal 2025 outlook: flat organic sales, near breakeven pre-tax; Q1 similar to Q4 FY2024 loss.
New $200M share buyback authorized through June 2026; prior program expired.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Ronald L.G. Tsoumas

Chief Financial Officer

MEI · METHODE ELECTRONICS INC

Effective: 2024-07-12
Successor: David Rawden
Filed: July 11, 2024, 7:59 PM ET

effective as of July 12, 2024, the effective date of Mr. Tsoumas’s retirement.

Appointed (interim)

David Rawden

Interim Chief Financial Officer

MEI · METHODE ELECTRONICS INC

Effective: 2024-07-12
Filed: July 11, 2024, 7:59 PM ET

On July 8, 2024, the Board appointed Mr. Rawden to the office of Interim Chief Financial Officer effective as of July 12, 2024, the effective date of Mr. Tsoumas’s retirement.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Ronald L.G. Tsoumas retired as Chief Financial Officer at METHODE ELECTRONICS INC.

Action: retired
Role: Chief Financial Officer

Exact text from the filing

effective as of July 12, 2024, the effective date of Mr. Tsoumas’s retirement.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

David Rawden was appointed as Interim Chief Financial Officer at METHODE ELECTRONICS INC.

Action: appointed
Role: Interim Chief Financial Officer

Exact text from the filing

On July 8, 2024, the Board appointed Mr. Rawden to the office of Interim Chief Financial Officer effective as of July 12, 2024, the effective date of Mr. Tsoumas’s retirement.

View on SEC.gov

METHODE ELECTRONICS INC filing history →

Source: SEC EDGAR

accession 0000950170-24-082851

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.