MasterBrand Names Mark Young Interim CFO, Shares Down

(RTTNews) - MasterBrand Inc. (MBC), a residential cabinet manufacturer, on Monday named Mark Young as Vice President and Interim Chief Financial Officer, effective immediately.

Following the announcement, the shares were trading 7.12 percent lower at $6.78 on the New York Stock Exchange.

Young previously had served as Vice President and Chief Accounting Officer and succeeds Andrea Simon, who will remain in an advisory role through March 31, 2027, to ensure a smooth transition.

The company has initiated a search for a permanent CFO, considering both internal and external candidates.

MasterBrand said Simon's departure is not related to any issues concerning the integrity of its financial statements or accounting policies and practices.

Young joined MasterBrand in 2022 and has more than 20 years of finance and accounting leadership experience across manufacturing and public accounting.