01—Abstract
Summary
Summary of the 8-K filed December 9, 2024. Cited figures are marked; the original filing is the authoritative source.
Dover Corporation (NYSE: DOV) announced on December 9, 2024 that Chief Financial Officer Brad M.
Cerepak plans to retire effective January 31, 2025, after serving as CFO since May 2011 and roughly 15 years with the company. He will be succeeded by Chris Woenker, 42, who will be elected Senior Vice President and Chief Financial Officer effective the same date. The filing reflects a planned, internally sourced succession rather than an unexpected departure.
Woenker joined Dover in March 2013 in Financial Planning and Analysis and has held progressively senior CFO roles since 2016, most recently as CFO of the Engineered Products and Climate & Sustainability Technologies segments. He will remain in those segment roles while working with Cerepak through the 2024 fiscal year close, and will report to Chairman and CEO Richard Tobin. The filing contains no arrangements with other persons tied to his selection, no family relationships with directors or executive officers, and no related-party transactions requiring disclosure under Item 404(a).
For investors, the key takeaways are continuity and internal succession. The overlap period through year-end close, Woenker's deep familiarity with Dover's operating model, and the Board's emphasis on internal talent development all suggest a low-disruption transition. The filing does not disclose any change to financial guidance, compensation terms for the new CFO, or strategic direction.
02—Key points
Key Highlights
- CFO Brad Cerepak, who has served since May 2011, will retire effective January 31, 2025.
- Chris Woenker, 42, currently CFO of the Engineered Products and Climate & Sustainability Technologies segments, will become SVP and CFO on January 31, 2025.
- Woenker joined Dover in March 2013 and has held segment CFO roles since 2017, giving him deep knowledge of the operating model.
- Woenker will remain in his current segment CFO roles and work with Cerepak through the 2024 fiscal year financial close, providing an overlap period.
- The transition is an internal succession, reflecting the Board's long-term succession planning and focus on developing internal talent.
- Woenker will report to Chairman and CEO Richard Tobin.
- The filing discloses no changes to financial guidance, new CFO compensation terms, or strategic changes.
03—Questions
Frequently Asked Questions
Why is Dover's CFO leaving?
The filing states that Brad Cerepak plans to retire effective January 31, 2025. No other reason for the departure is disclosed.
Who is replacing the CFO and what is their background?
Chris Woenker, 42, will succeed Cerepak. He joined Dover in March 2013 in Financial Planning and Analysis, was promoted to business unit CFO in 2016 and segment CFO in 2017, and currently serves as CFO of the Engineered Products and Climate & Sustainability Technologies segments.
Is this an internal or external hire?
It is an internal promotion. Woenker has been with Dover since 2013, and the Board cited the company's long-term succession planning and development of internal talent.
Will there be a transition period?
Yes. Woenker will keep his current segment CFO roles and work closely with Cerepak through the 2024 fiscal year financial close before formally assuming the SVP and CFO role on January 31, 2025.
Does this change Dover's financial outlook or strategy?
The filing does not indicate any change to financial guidance, strategy, or operations. It is a leadership transition announcement only.
04—Continue