By Connor Hart
Shares of MultiSensor AI Holdings rallied after the company switched up its executive team in a move that it said is in preparation of rapid growth.
The stock was up 36% to $2.71 in after-hours trading Monday. Shares ended the regular session flat at $2, putting them down 43% in the past 52 weeks.
The company, which develops and manufactures infrared-sensor systems, named Peter Baird as its chief commercial officer. In the role, Baird will develop commercial relationships while accelerating current sales initiatives, the company said. He most recently served as chief financial officer.
Robert Nadolny will succeed Baird as head of finance, the company said. Nadolny most recently served as MultiSensor's vice president of controller, and prior to joining the company, worked in assurance services at Ernst & Young.
MultiSensor also on Monday said Steve Winch would step down as the company's president, though he would continue to serve on its board.
The changes will help prepare the company for its next phase of growth, in which it hopes to establish itself as a SaaS leader in predictive maintenance, MultiSensor said. The company said it began preparing for this transition in November when it named Stuart Flavin III as its chief executive, succeeding Gary Strahan.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
January 06, 2025 18:03 ET (23:03 GMT)
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