Lakeland Industries, Inc. (NASDAQ: LAKE) announced that Calven Swinea will serve as its permanent Chief Financial Officer, effective February 17, 2026. Swinea succeeds Roger D. Shannon, whose employment as CFO ended on December 31, 2025, after a brief interim period that began on January 1, 2026.
Swinea joined Lakeland in September 2020 as Vice President of Finance and has been the company’s interim CFO since the start of 2026. His background includes senior finance roles at Elliott Group, Walter Energy, Avocent Corporation, and Sanmina Corporation, giving him more than 20 years of experience in corporate finance across industrial and manufacturing sectors.
Lakeland’s financial performance has been under pressure. The company reported a net loss of $18.1 million for the fiscal year ending January 31, 2025, and a Q3 2026 earnings per share of –$1.64, missing analyst expectations. The company’s operating leverage has been strained by new tariffs, rising freight costs, raw‑material inflation, and supply‑chain disruptions, while a planned cost‑reduction program includes the closure of facilities in the United Kingdom and Arkansas.
Management has outlined a clear set of priorities under Swinea’s leadership. CEO Jim Jenkins emphasized that the company’s focus is on strengthening liquidity, accelerating debt reduction, improving working‑capital efficiency, and enforcing disciplined expense management. Swinea will also oversee the implementation of a new Enterprise Resource Planning system, slated for full deployment in fiscal 2027, to centralize data and strengthen financial controls.
Investor sentiment has remained cautious, reflecting the company’s ongoing profitability challenges and the broader headwinds it faces. The CFO appointment is viewed as a step toward stabilizing the financial function, but the market’s muted reaction underscores the need for continued execution on the outlined priorities.
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