8-K: Helios Technologies Appoints Jeremy Evans as New CFO

Helios Technologies announced the appointment of Jeremy Evans as its new Executive Vice President and Chief Financial Officer, succeeding Michael Connaway.

Summary

• Helios Technologies, Inc. announced the separation of Michael Connaway from his role as Executive Vice President and Chief Financial Officer on November 16, 2025.
• Jeremy Evans has been promoted to Executive Vice President and Chief Financial Officer, effective November 17, 2025.
• Mr. Connaway will receive 12 months of base salary continuation, a prorated short-term incentive payment, and 12 months of company-paid medical, dental, life, disability, and hospitalization benefits, contingent on signing a general release.
• Mr. Evans' annual base salary will increase to $425,000, with his short-term incentive target set at 60% of base salary and long-term incentive target at 120% of base salary.
• The company stated Mr. Connaway's departure was not related to any disagreement regarding accounting practices, financial statements, internal controls, or operations.

Sentiment

Score: 7

Explanation: The announcement of a new CFO, especially an internal promotion with a strong background and positive management commentary, generally signals stability and strategic alignment. The explicit statement that the previous CFO's departure was not due to disagreements on financial matters is reassuring. The mention of returning to year-over-year growth adds a positive undertone, despite the short tenure of the outgoing CFO.

Positives

• The promotion of an internal candidate, Jeremy Evans, who has been with the company since January 2024 and previously served as Chief Accounting Officer, ensures continuity and familiarity with company operations.
• Mr. Evans brings extensive experience, including 25 years of progressive operational and financial management leadership, with a background as Vice President, Accounting Transformation at TD SYNNEX Corporation.
• Management highlights Mr. Evans' proven track record in driving process improvement, streamlining financial reporting, navigating complex accounting topics, and maintaining robust internal controls.
• Helios Technologies is 'returning to year-over-year growth in the third quarter of this year,' indicating positive business momentum and a potential inflection point.
• The company has a clear strategic focus on enhancing its go-to-market strategy, improving operational efficiencies, strengthening working capital discipline, optimizing its portfolio, and carefully allocating resources to maximize return on investments.

Negatives

• The departure of Michael Connaway, the previous Executive Vice President and Chief Financial Officer, after a very short tenure, having joined the company on October 13, 2025, and separated on November 16, 2025.
• The cost associated with Mr. Connaway's severance package, including 12 months of base salary continuation and 12 months of company-paid benefits.

Risks

• The ability to successfully implement the company's strategy, including its profit recovery and growth plan, may face challenges.
• Successfully transitioning its leadership, specifically referring to the CFO change, carries inherent risks.
• General factors described in the company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 28, 2024, and subsequent filings, could impact actual results.

Future Outlook

Helios Technologies is at an 'exciting inflection point,' having returned to year-over-year growth in the third quarter. The company is focused on executing its strategy by building out its go-to-market approach, improving operational efficiencies, strengthening working capital discipline, optimizing its portfolio, and carefully allocating resources to maximize return on investments. Management anticipates these efforts will drive increasing shareholder returns over time.

Management Comments

• "Having the right person in every role is critical for us to successfully execute our strategy." Sean Bagan, President and CEO.
• "Jeremy has been on our team just shy of two years now and has consistently demonstrated the kind of proven leadership, cross-functional collaboration, and deep relationship-building that moves our organization forward." Sean Bagan, President and CEO.
• "He has been a key contributor to our strategic planning process, while also providing steady interim leadership across critical financial functions—ensuring continuity, discipline, and strong alignment with our long-term value-creation goals." Sean Bagan, President and CEO.
• "I’m truly honored to step into the role of Chief Financial Officer for Helios. I’m grateful for the trust placed in me and excited to continue serving our teams as we execute our strategy and build on the strong foundation we’ve created together." Jeremy Evans, Executive Vice President and CFO.
• "Helios is at an exciting inflection point, returning to year-over-year growth in the third quarter of this year." Jeremy Evans, Executive Vice President and CFO.
• "We have been working hard to build out our go-to-market strategy, improve our operational efficiencies, strengthen our working capital discipline, optimize our portfolio and carefully allocate our resources to maximize our return on investments." Jeremy Evans, Executive Vice President and CFO.
• "I look forward to continuing to collaborate with the Helios leadership team to drive our efforts across these and many other areas to create increasing shareholder returns over time." Jeremy Evans, Executive Vice President and CFO.

Industry Context

Helios Technologies operates as a global leader in highly engineered motion control and electronic controls technology, serving diverse end markets such as construction, material handling, agriculture, energy, recreational vehicles, marine, and health and wellness. The company's strategy emphasizes being a leading provider in niche markets through innovative product development and acquisitions, aligning with a trend towards specialized, high-value solutions in industrial technology sectors. The mention of returning to year-over-year growth in Q3 suggests a recovery or strong performance relative to broader economic conditions or specific industry cycles.

Comparison to Industry Standards

• NA The filing does not provide specific comparable companies, projects, or results to assess against global benchmarks.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders: The appointment of a new CFO with a strong internal track record and positive outlook on company growth and shareholder returns could be viewed positively, signaling stable leadership and strategic execution.
• Employees: An internal promotion to a key executive role can be a positive signal for employee morale and career progression opportunities within the company.
• Customers/Suppliers: Unlikely to have direct immediate impact, but stable financial leadership supports long-term business relationships.

Next Steps

• Jeremy Evans will continue to collaborate with the Helios leadership team to drive efforts across go-to-market strategy, operational efficiencies, working capital discipline, portfolio optimization, and resource allocation.
• Mr. Connaway is required to sign a general release with the Company (the Separation Agreement) and comply with restrictive covenants.

Key Dates

Recommendation

The filing primarily details a change in executive leadership, specifically the CFO. While the new CFO, Jeremy Evans, appears highly qualified with a strong internal track record and positive commentary from the CEO, and the company notes a return to year-over-year growth in Q3, the filing does not provide sufficient new financial data or strategic shifts to warrant a 'buy' or 'sell' recommendation. The departure of the previous CFO, even if not due to disagreements, introduces a degree of uncertainty, balanced by the internal promotion. Investors should hold and monitor future financial reports and strategic execution under the new leadership.

Keywords

Helios Technologies, HLIO, CFO appointment, executive change, financial leadership, motion control, electronic controls, corporate governance, financial reporting, SEC filing