MSC Industrial Supply announced Monday that its chief financial officer plans to resign from the company early next month.
Kristen Actis-Grande, the company’s executive vice president and CFO, will step down effective Aug. 8 to become CFO for an undisclosed publicly traded company. MSC Vice President of Finance and Corporate Controller Greg Clark was named interim CFO while the company’s management and board conducts a “comprehensive search to identify a permanent CFO.”
“I would like to thank Kristen for her contributions to MSC and congratulate her on this new opportunity,” MSC CEO Erik Gershwind said in a statement. “I am confident that a combination of Greg's leadership, a deep finance bench and a strong operating team … will ensure continued momentum throughout the company."
Gershwind added in the announcement that the company’s June sales were up 2.5% on a daily average basis compared to the same month last year, and that sales for the current quarter were “trending towards the upper half of our average daily sales and adjusted operating margin” forecast ranges.
MSC’s original, limited forecast for its fiscal fourth quarter, issued with its Q3 earnings at the beginning of the month, anticipated average daily sales spanning from down 0.5% to up 1.5% in Q4, along with an adjusted operating margin of between 8.5% and 9%.
"I am encouraged by our start to the fiscal fourth quarter and remain confident in our long-term trajectory,” Gershwind said.
MSC ranked at no. 9 on ID's most recent Big 50.
