8-K/A: IES Holdings Finalizes Executive Succession, Appoints New CEO and Residential Segment President

IES Holdings, Inc. has finalized its executive succession plan, with Matthew J. Simmes assuming the role of President and Chief Executive Officer and receiving an increased annual base salary of $925,000, while Jeffrey L. Gendell transitions to Executive Chairman.

Summary

• Matthew J. Simmes has been promoted to President and Chief Executive Officer of IES Holdings, Inc., effective July 1, 2025.
• Jeffrey L. Gendell has transitioned from Chairman of the Board and Chief Executive Officer to Executive Chairman of the Board, effective July 1, 2025.
• Mr. Simmes' annual base salary has been increased from $750,000 to $925,000, as approved by the Compensation and Human Resources Committee on June 27, 2025.
• All other elements of Mr. Simmes' compensation, including outstanding equity and non-equity incentive awards, remain unchanged.
• Mr. Simmes has also been appointed as a member of the Company's Board of Directors.
• Jordan Lyman has been appointed as President of IES's Residential segment, bringing over 20 years of experience within IES Residential.
• IES Holdings specializes in designing and installing integrated electrical and technology systems and providing infrastructure products and services.
• The company serves various end markets, including data centers, residential housing, and commercial and industrial facilities, with over 9,000 employees across the United States.

Sentiment

Score: 7

Explanation: The document reflects a well-managed and previously announced executive transition, indicating stability and continuity in leadership. The promotion of an internal candidate and the retention of the former CEO in an executive chairman role suggest a smooth handover. The compensation adjustment is a standard part of such promotions. The appointment of a new Residential segment president also indicates strategic focus.

Positives

• The executive succession plan was previously announced and has been completed smoothly, ensuring leadership continuity.
• Matthew J. Simmes, an experienced internal candidate with a strong record of growth, has been promoted to CEO, indicating a stable transition.
• Jeffrey L. Gendell remains involved as Executive Chairman, providing continued guidance and experience to the leadership team.
• The strategic appointment of Jordan Lyman as President of the Residential segment leverages his extensive experience and deep knowledge of the business, positioning it for future growth.
• The new CEO, Matthew J. Simmes, has expressed commitment to building on the company's legacy of growth and delivering value for shareholders, customers, and employees.

Future Outlook

Matthew J. Simmes is committed to building on the company's strong record of growth and delivering value for shareholders, customers, and employees. Jordan Lyman is expected to lead the Residential segment through the current housing environment and position the business for future growth.

Management Comments

• "I am grateful for the opportunity to lead IES into its next chapter." Matthew J. Simmes
• "Under Jeff's leadership, IES has established a strong record of growth, and I am committed to building on that legacy to deliver value for our shareholders, customers, and employees." Matthew J. Simmes
• "I am incredibly proud of all that Matt and I have accomplished together, and as Executive Chairman, I look forward to working with Matt and the senior leadership team as they drive the Company's continued success." Jeffrey L. Gendell
• "I have worked in close partnership with Jordan since I began acting as Interim President of the Residential segment in 2023. His deep knowledge of the day-to-day business and strong relationships with our customers and suppliers make him the right person to lead the Residential segment through the current housing environment and position the business for future growth, while allowing me to focus on my new role as CEO." Matthew J. Simmes
• "It's an honor to lead the team at IES Residential, so many of whom have been my valued colleagues for many years. I'm grateful to Matt, Jeff and the Board for their confidence in my ability to drive IES Residential forward." Jordan Lyman

Industry Context

The appointment of Jordan Lyman to lead the Residential segment acknowledges the "current housing environment," indicating the company's focus on navigating specific market conditions within the residential construction sector and adapting its strategy for future growth in this area.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders: Benefit from leadership continuity and a clear succession plan, which can contribute to stable long-term growth and investor confidence.
• Employees: A clear leadership structure and strategic appointments, such as Jordan Lyman, can provide stability, clear direction, and opportunities for internal advancement.
• Customers: Continuity in leadership and a focused approach to key segments like Residential aim to maintain strong relationships and consistent service delivery.
• Suppliers: Stable leadership can foster consistent business relationships and operational predictability.

Next Steps

• Matthew J. Simmes will focus on his new role as Chief Executive Officer.
• Jordan Lyman will lead the Residential segment, aiming to drive it through the current housing environment and position it for future growth.
• Jeffrey L. Gendell will work with the senior leadership team as Executive Chairman to drive continued success.

Key Dates

Keywords

IES Holdings, IESC, CEO transition, executive succession, Matthew J. Simmes, Jeffrey L. Gendell, executive compensation, corporate governance, residential segment, Jordan Lyman, electrical systems, technology systems, infrastructure, data centers, residential housing, commercial facilities, industrial facilities