8-K: Helios Technologies Fortifies Finance Leadership with New CFO, CAO

Helios Technologies announced the appointment of Michael Connaway as Chief Financial Officer and Jeremy Evans as Chief Accounting Officer, strengthening its financial leadership team.

Summary

• Helios Technologies, Inc. appointed Michael Connaway as Executive Vice President, Chief Financial Officer, effective within the next 60 days in October 2025.
• Sean Bagan will relinquish his CFO role but will continue to serve as President and Chief Executive Officer.
• Jeremy Evans, who joined Helios in January 2024 as Corporate Controller, has been promoted to Senior Vice President, Chief Accounting Officer and Corporate Controller, effective September 1, 2025.
• Mr. Connaway brings over two decades of financial and operational expertise, including public company CFO experience from Aviat Networks, Inc., and various leadership roles at Honeywell and General Electric.
• Mr. Evans has 25 years of progressive operational and financial management leadership experience, primarily with Tech Data (now TD SYNNEX Corporation).
• The appointments are intended to strengthen the company's financial foundation and drive sustainable growth and value creation for all stakeholders.

Sentiment

Score: 8

Explanation: The appointments of highly experienced financial executives, including a new CFO with public company experience and a promoted internal talent to CAO, are positive strategic moves aimed at strengthening financial leadership and driving future growth. The detailed compensation packages appear competitive for attracting top talent.

Positives

• The appointment of Michael Connaway as CFO brings extensive public company CFO experience and over two decades of financial and operational expertise from leading global companies like Aviat Networks, Honeywell, and General Electric.
• The promotion of Jeremy Evans to Chief Accounting Officer recognizes his significant contributions since joining Helios in January 2024, including driving process improvement and streamlining financial reporting.
• These executive appointments are expected to strengthen the company's financial foundation and drive sustainable growth and value creation for all stakeholders.
• Sean Bagan, President and CEO, will now be able to focus solely on his chief executive responsibilities, potentially enhancing strategic leadership and operational focus.

Risks

• The ability to successfully implement its strategy, including the Company's profit recovery and growth plan.
• Successfully transition its leadership.
• Other 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.

Future Outlook

The company aims to strengthen its financial foundation and drive sustainable growth and value creation for all stakeholders through these executive appointments. Management believes the new CFO will enhance strategic financial planning and improve operational productivity, while the CAO will continue to ensure timely and accurate financial records and a robust internal control environment, positioning the company for profitable sales growth through disciplined cost management.

Management Comments

• "As we focus on building a world-class leadership team, I am pleased to announce these executive leadership appointments, which underscore Helios' ability to attract top-tier talent while also recognizing the exceptional contributions of our existing team." Sean Bagan, President, CEO, and CFO of Helios.
• "Michael brings more than two decades of financial and operational expertise, including public company CFO experience, which will be instrumental as we execute our long-term strategy." Sean Bagan.
• "Jeremy has already made a significant impact since joining Helios in 2024, following a 25-year career at a Fortune 100 company based in Florida. His promotion reflects both his accomplishments and our confidence in his leadership. Together, they will strengthen our financial foundation and help drive sustainable growth and value creation for all stakeholders." Sean Bagan.
• "I'm excited to join Helios and collaborate with Sean, the leadership team, and the global team to provide strategic financial planning while improving operational productivity through process evaluation and automation that sets Helios apart from competitors. My goal is to draw from my past experiences at leading industrial technology companies to enhance Helios strong market positions resulting in profitable sales growth through disciplined cost management and consistently adding value for our shareholders." Michael Connaway.
• "I am extremely grateful for the opportunity to work alongside Sean, Michael and the other accomplished leaders within Helios to continue shaping the future of the Company. Since joining Helios, I've seen firsthand the capabilities that our teams have to develop innovative products and create solutions for our customers. Those capabilities, along with solid financial discipline, have positioned us well to drive profitable growth over the long-term. I am excited to be part of that growth and to lead an accounting organization filled with talented professionals." Jeremy Evans.

Industry Context

The appointments of a seasoned CFO with public company experience and a promoted internal accounting leader reflect a broader industry trend among established companies to fortify financial leadership, especially in complex global markets. This move positions Helios to better navigate strategic financial planning, operational productivity improvements, and robust internal controls, which are critical for sustained growth in the highly engineered motion control and electronic controls technology sectors.

Comparison to Industry Standards

• NA

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders: Potential for enhanced financial oversight, strategic planning, and disciplined cost management, aiming for profitable sales growth and increased shareholder value.
• Employees: Strengthened leadership team, potentially leading to clearer financial direction and operational improvements.
• Customers: Improved operational productivity and financial discipline could indirectly lead to better product development and solutions.

Next Steps

• Michael Connaway is expected to join the company and assume the CFO role in October 2025.
• Jeremy Evans' expanded responsibilities as CAO will be effective September 1, 2025.
• The company will continue to execute its long-term strategy, including its profit recovery and growth plan.
• The new executives will enter into standard company agreements, including Indemnification, Executive Officer Continuity, Executive Officer Severance, and restrictive covenants.

Key Dates

Recommendation

The executive appointments are positive for strengthening the company's financial leadership and strategic direction. However, this filing primarily concerns management changes rather than immediate financial performance or new strategic initiatives that would warrant a 'buy' or 'strong buy' recommendation. Investors should 'hold' and monitor how the new leadership executes the company's long-term strategy and impacts future financial results.

Keywords

Helios Technologies, HLIO, CFO, Chief Financial Officer, CAO, Chief Accounting Officer, Executive Appointment, Corporate Governance, Financial Leadership, Motion Control, Electronic Controls, Michael Connaway, Jeremy Evans