When will the CFO transition take place?

Matthew M. McGrew will relinquish his role as Chief Financial Officer as of February 28, 2026. Matthew E. Gugino will officially succeed him on the same date.

What is Mr. Gugino's new compensation package as CFO?

Effective February 28, 2026, Mr. Gugino's annual base salary will increase to $825,000, and he will have a target bonus percentage of 115% under the annual cash incentive program. He will also receive a target equity award value of $4,200,000 in 2026, split equally between stock options and performance stock units. Prior to this, his salary and bonus targets were adjusted effective July 21, 2025, and he will receive a $1,750,000 equity award in November 2025.

What will Mr. McGrew's role and compensation be after February 28, 2026?

After February 28, 2026, Mr. McGrew will continue as an Executive Vice President of Danaher Corporation. His compensation will be adjusted to a base salary of $700,000 with a target bonus percentage of 125%, and he will receive a target equity award of $2,500,000 in 2026.

Are there any non-compete or restrictive covenants associated with Mr. Gugino's new role?

Yes, Mr. Gugino has entered into an Agreement Regarding Competition and Protection of Proprietary Interests. This agreement includes customary provisions prohibiting the disclosure of confidential information, making disparaging comments, competing with the company, soliciting customers or employees, interfering with vendor relationships, and developing competing products or services during and for specified periods after his employment.

DHR 8-K: Leadership Changes

Summary

Danaher Corporation (DHR) has announced a planned transition for its Chief Financial Officer role. Matthew M. McGrew, the current Executive Vice President and CFO, will relinquish his CFO duties effective February 28, 2026, and will continue with the company as an Executive Vice President. Succeeding Mr. McGrew will be Matthew E. Gugino, who currently serves as Danaher’s Vice President-Corporate FP&A and Group CFO. This transition signals a long-term succession plan for a key executive position within the company. In connection with this transition, Mr. Gugino's compensation has been adjusted to reflect his new responsibilities. This includes an immediate increase in base salary and bonus target, followed by further increases and significant equity awards effective upon his formal appointment as CFO in February 2026. The compensation adjustments are designed to align with the increased scope and importance of the CFO role. Mr. McGrew's compensation will also be adjusted as he moves into his continued executive role.

Key Highlights

1Matthew M. McGrew to step down as CFO effective February 28, 2026, remaining as Executive Vice President.
2Matthew E. Gugino to be appointed Executive Vice President-Chief Financial Officer effective February 28, 2026.
3Mr. Gugino's annual base salary increases to $700,000 and target bonus to 90% effective July 21, 2025.
4Mr. Gugino to receive a $1,750,000 equity award in November 2025, split between stock options and RSUs.
5Mr. Gugino's base salary will rise to $825,000 with a 115% bonus target effective February 28, 2026.
6Mr. Gugino to receive a $4,200,000 equity award in 2026, split between stock options and PSUs.
7Mr. McGrew's base salary will be $700,000 with a 125% bonus target effective February 28, 2026, and a $2,500,000 equity award in 2026.

DANAHER CORP /DE/ 8-K Report, Executive Changes (Jul 24, 2025)

Summary

Key Highlights

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