FORT MYERS, FL - Somero Enterprises Inc. (NYSE:SOM), a leader in concrete leveling equipment, announced today a planned leadership transition. Jack Cooney, who has served as CEO and President for 27 years, will retire on March 31, 2025. Jesse Aho, currently the COO of Global Operations and New Product Development, has been promoted to President with immediate effect.
The company has begun the search for a new CEO, and Cooney will remain as a consultant for a year following his retirement to ensure a smooth transition. Additionally, Larry Horsch, Chairman of the Board, will step down following the appointment of the new CEO. The successor for the Chairman position will be selected from the current Board of Directors, with Horsch continuing in an interim capacity until then.
This transition is part of a succession plan initiated on June 3, 2024, and the Board expects its execution to be completed with the new CEO's arrival. The company's trading update on July 30, 2024, indicated confidence that full-year results would meet market expectations, with the full report to be released in March 2025.
The Directors of Somero expressed gratitude to both Cooney and Horsch for their long-standing dedication and contribution to the company's success. This leadership change is reported based on a press release statement from Somero Enterprises Inc.
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