Hexagon AB announced Friday that Chief Financial Officer David Mills is stepping down, with the company citing personal reasons for his departure.
The Swedish measurement and industrial technology firm named Norbert Hanke, a company veteran who recently served as interim Chief Executive Officer, as his temporary replacement, effective immediately.
The management change follows the company's recent financial report which showed its performance under pressure.
For the second quarter, Hexagon's adjusted operating margin fell to 26.3% from 29.5% a year earlier, while adjusted operating earnings declined by 10%.
Mills, who had been in the CFO role since July 2023, will remain available to Hexagon as a financial advisor until February 2026 to ensure a smooth transition, according to the company.
"During his 25 years with Hexagon, David has served in multiple finance leadership roles, driving and developing improved financial performance and governance," President and CEO Anders Svensson said in a statement.
Hexagon said a search for a permanent CFO is now underway.
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