Standard Motor Products shares inch down after CFO announces resignation
SMP•Standard Motor Products shares fell 0.4% to $36.52 in volatile extended trading after CFO Nathan Iles announced he will resign effective October 30 to take a CFO role at another public company and relocate closer to his family.
1. CFO transition
Board member James Burke will serve as interim CFO starting October 30 until a permanent successor is appointed. CEO Eric Sills said Iles helped strengthen the financial organization, support strategic growth initiatives, maintain disciplined capital allocation and enhance the company’s capabilities as a public company.
