Lean Engineering & Operational Excellence

Fortive Completes Ralliant Spin-Off; Olumide Soroye Named CEO

Fortive Corporation Completes Ralliant Spin-Off; Olumide Soroye Named CEO
  • Separation of Ralliant completed on June 28, 2025
  • Olumide Soroye appointed as President, CEO and Director of Fortive
  • James Lico concurrently retired as President, CEO and Director of Fortive

Fortive Corporation (“Fortive”) (NYSE: FTV) today announced that it has completed the separation of its Precision Technologies segment, through the 100% spin-off of Ralliant Corporation (“Ralliant”) to its shareholders on June 28, 2025. Fortive Corporation shares will continue to trade on the New York Stock Exchange under the symbol “FTV” and, effective today, Ralliant will begin “regular way” trading on the New York Stock Exchange under the symbol “RAL.”

In connection with the separation, on June 28, 2025, Fortive shareholders received one share of common stock of Ralliant for every three shares of common stock of Fortive Corporation held at the close of business on June 16, 2025 (other than fractional shares, which will be aggregated and sold and the proceeds distributed to Fortive shareholders). Approximately 113 million shares of Ralliant common stock were distributed in the separation.

Concurrently with the separation, Olumide Soroye has assumed the role of President and Chief Executive Officer and joined Fortive Corporation’s Board of Directors. His appointment was part of a planned transition, previously announced in conjunction with the separation of Fortive and Ralliant. Mr. Soroye succeeds James Lico who has retired as President, CEO and Director of Fortive Corporation. Mr. Lico will continue to serve as a non-executive senior advisor for Fortive Corporation until the end of the year.

“Today marks the beginning of bold and exciting new chapters for both Fortive and Ralliant as independent, purpose-built companies, each poised to unlock significant value for shareholders,” Mr. Soroye stated. “New Fortive emerges with a strong financial track record with robust free cash flow generation, approximately 50% recurring revenue, significant competitive advantages, and a strategic orientation toward attractive markets with strong secular tailwinds. Our renewed focus on accelerating profitable growth through the Fortive Business System, alongside a new shareholder returns focused capital allocation strategy and a clear focus on building investor trust, gives us great confidence in our ability to deliver superior returns for shareholders in the years ahead.”

Mr. Soroye continued, “Since our last earnings call, we have experienced increased pressure on tariff-related pricing and customer demand driven largely by heightened uncertainty in trade, healthcare and government spending policy. This created headwinds for revenue and core revenue growth that built late in the second quarter. As a result, we now estimate our second quarter revenue and core revenue as flat to slightly down across new Fortive Corporation, with the Precision Technologies segment, now Ralliant, declining mid-single digits as expected. Despite these headwinds, our teams are leveraging the Fortive Business System to drive results, and we estimate second quarter consolidated adjusted EPS near the mid-point of our previous guidance range.”

“As we look forward, recent volatility has no impact on our excitement for the future,” Mr. Soroye continued. “Over the years, new Fortive Corporation has demonstrated its ability to deliver durable, profitable growth, across dynamic market conditions. We remain confident in the path ahead and have strong conviction in our ability to unlock significant value for shareholders.”

“I’m deeply grateful to our exceptional teams at Fortive and Ralliant for their unwavering dedication, which enabled us to complete the spin-off ahead of schedule. I am confident that our new Fortive team of 10,000 associates – united by our shared purpose of innovating essential technologies to keep our world safe and productive – will drive meaningful success for our customers, employees, and shareholders as we embark on the next phase of our strategic evolution,” concluded Mr. Soroye.

Mr. Lico commented, “I’m incredibly proud of everything we’ve accomplished at Fortive – from fostering a strong FBS-driven culture to laying a resilient foundation for the future. As Fortive and Ralliant move forward as distinct, purpose-driven organizations, I’m energized by the opportunities ahead. I have complete trust in Olumide’s leadership at Fortive and in the seasoned team guiding its next phase of long-term value creation.”

Sharmistha “Shar” Dubey, Chair of Fortive’s Board of Directors, stated, “Olumide brings a wealth of experience and expertise in executing profitable growth strategies across multiple industries and deep knowledge of our strengths and opportunities at Fortive Corporation. We are excited to have Olumide take the reins of new Fortive with its market-leading portfolio of technology solutions and greater focus on growth and recurring revenue. We embark on this new journey as a simplified company, poised for acceleration, and with a disciplined capital allocation framework and a world class team capable of driving significant shareholder value creation in a dynamic macro, policy and geopolitical environment.”

Ms. Dubey continued, “The Board extends its deepest gratitude to Jim for his visionary leadership and unwavering dedication over nearly a decade. His efforts were instrumental in shaping Fortive Corporation’s distinctive culture of innovation and continuous improvement. As CEO, Jim worked relentlessly to build a portfolio of high-quality businesses positioned in dynamic, high-growth markets, providing a strong foundation to move forward.”

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