Stoneridge, Inc. (NYSE: SRI) announced that its Chief Financial Officer and Treasurer, Matt Horvath, will step down effective March 31, 2026. Horvath, who has led the company’s finance function for nine years, said he is leaving to pursue an opportunity in a different industry sector.
Horvath will remain in his role through the transition period, working closely with Chief Accounting Officer Robert Hartman, who will assume day‑to‑day financial operations and oversee the handover. Hartman, who has served Stoneridge for 27 years, will guide the finance team through the change and maintain continuity in reporting and capital‑allocation decisions.
The CFO departure comes shortly after Stoneridge completed the sale of its Control Devices segment to Center Rock Capital Partners for $59 million, a transaction that closed on January 30, 2026. The proceeds are earmarked for debt reduction, helping the company strengthen its balance sheet and free capital for growth in its high‑margin Electronics and Brazil businesses. The divestiture is part of a broader strategic transformation that seeks to simplify the portfolio, focus on core growth platforms, and improve financial flexibility.
Stoneridge has set 2025 revenue guidance of $875 million and an EBITDA target of $40 million, while 2026 guidance calls for at least $975 million in revenue and $70 million in EBITDA. The company’s guidance reflects confidence that the debt‑reduction plan and the shift toward Electronics and Brazil will drive sustainable profitability, with the divestiture’s proceeds accelerating the debt‑paydown schedule.
President and CEO Jim Zizelman said, "Matt has been instrumental in steering Stoneridge through a period of significant transformation. His leadership in portfolio strategy and divestitures has positioned us for a stronger, more focused future." Zizelman added that the sale of the Control Devices segment is a critical step in the long‑term strategy, allowing the company to concentrate resources on its highest‑growth, highest‑return businesses.
Analysts have noted that the CFO transition aligns with Stoneridge’s broader strategic shift and have expressed positive sentiment toward the company’s focus on high‑margin segments. The market has generally responded favorably to the company’s recent earnings and communication events, suggesting confidence in its execution of the transformation plan.
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