Fortive Corporation ("Fortive") (NYSE: FTV) today announced the appointment of Olumide Soroye as President and Chief Executive Officer, Intelligent Operating Solutions (IOS) segment, with an official start date of August 9th. Mr. Soroye will report directly to Jim Lico, Fortive's President and Chief Executive Officer, and will lead the IOS segment as it continues to expand its served market and accelerate strategy through both organic innovation and acquisitions.
Mr. Soroye joins Fortive from CoreLogic, a leading global provider of property information, analytics, software and data-enabled customer-centric workflow solutions. At CoreLogic, he served as Managing Director of Property Intelligence and Risk Management, one of the company's two reporting segments, leading the global delivery of integrated software, data, and AI solutions. His leadership at CoreLogic transformed the Property Intelligence and Risk Management segment into a highly profitable growth engine through digital workflow innovation and strategic acquisitions. Prior to joining CoreLogic, Mr. Soroye was a Senior Vice President with QuinStreet, as well as a Partner at McKinsey & Company where he drove transformational programs for global organizations across the software, semiconductor, and industrial sectors.
Mr. Soroye holds a Bachelor's degree in Metallurgical and Materials Engineering from Obafemi Awolowo University Nigeria, a Master's degree in Business Administration from Harvard Business School and a Juris Doctor degree from Loyola Law School.
Mr. Lico stated: "Throughout his career, Olumide has driven impressive results, guiding the development of market-leading, workflow solutions and significantly accelerating growth and profitability across a broad range of verticals. Given his expertise, strategic insights, and strong leadership, Olumide will fit very well into our culture at Fortive and be a terrific leader for all of the Operating Companies and cross-functional teams within IOS."
Mr. Soroye stated: "I am delighted to join the team at Fortive on their 5th anniversary of pursuing a deeply meaningful shared purpose ? essential technology for the people who accelerate progress towards a smarter, safer and more sustainable world. Fortive's portfolio of market-leading brands, its extraordinary team, and its exceptional culture makes the company a strong platform for accelerating profitable growth and positive impact on the world."
As the leader of IOS, Mr. Soroye joins Fortive's other two segment leaders, Barbara Hulit, President & CEO, Advanced Healthcare Solutions segment, and Pat Murphy, President & CEO, Precision Technologies segment.
Fortive is a provider of essential technologies for connected workflow solutions across a range of attractive end-markets. The company holds leading positions in intelligent operating solutions, precision technologies, and advanced healthcare solutions. Fortive is headquartered in Everett, Washington and employs a team of more than 17,000 research and development, manufacturing, sales, distribution, service and administrative employees in more than 50 countries around the world. With a culture rooted in continuous improvement, the core of our company's operating model is the Fortive Business System. For more information please visit: www.fortive.com.
FORWARD LOOKING STATEMENTS
Statements in this release that are not strictly historical, including the statements regarding future growth prospects and market opportunities, and any other statements identified by their use of words like "expect," or other words of similar meaning are "forward-looking" statements within the meaning of the federal securities laws. There are a number of important factors that could cause future growth, market opportunities, and corporate development opportunities to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include, among other things: the duration and impact of the COVID-19 pandemic, deterioration of or instability in the economy, the markets we serve, international trade policies and the financial markets, changes in trade relations with China, contractions or lower growth rates and cyclicality of markets we serve, competition, changes in industry standards and governmental regulations, our ability to recruit and retain key employees, our ability to successfully identify, consummate, integrate and realize the anticipated value of appropriate acquisitions and successfully complete divestitures and other dispositions, our ability to realize the intended benefits of our separation of Vontier, our ability to develop and successfully market new products, software, and services and expand into new markets, the potential for improper conduct by our employees, agents or business partners, contingent liabilities relating to acquisitions and divestitures, impact of the phase out of LIBOR, impact of changes to tax laws, our compliance with applicable laws and regulations and changes in applicable laws and regulations, risks relating to international economic, political, legal, compliance and business factors, risks relating to potential impairment of goodwill and other intangible assets, currency exchange rates, tax audits and changes in our tax rate and income tax liabilities, the impact of our debt obligations on our operations, litigation and other contingent liabilities including intellectual property and environmental, health and safety matters, our ability to adequately protect our intellectual property rights, risks relating to product, service or software defects, product liability and recalls, risks relating to product manufacturing, our relationships with and the performance of our channel partners, commodity costs and surcharges, our ability to adjust purchases and manufacturing capacity to reflect market conditions, reliance on sole sources of supply, security breaches or other disruptions of our information technology systems, adverse effects of restructuring activities, risk related to tax treatment of our separation of Vontier, impact of our indemnification obligation to Vontier, impact of changes to U.S. GAAP, labor matters, and disruptions relating to man-made and natural disasters. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our Annual Report on Form 10-K for the year ended December 31, 2020. These forward-looking statements speak only as of the date of this release, and Fortive does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.
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