Clearfield, Inc. announced a leadership transition agreement with President and CEO Cheryl Beranek, who will retire effective March 31, 2027. The company's Board of Directors has initiated a formal search process to identify a successor. Ms. Beranek will continue in her current role until a new CEO is appointed.
Key Details
- Retirement Date: Cheryl Beranek's retirement is effective March 31, 2027.
- Transition Plan: After a successor is named, Ms. Beranek will transition to the non-executive role of President and Chief Executive Officer Emeritus to ensure a smooth handover until her retirement date.
- Compensation: During the transition period, Ms. Beranek's annual base salary of $483,000 will remain unchanged, and she will be eligible for a fiscal 2027 cash bonus equal to 100% of her base salary, which will not be prorated.
- Succession Process: The Board of Directors will conduct a search for the next CEO, evaluating both internal and external candidates with the assistance of a national search firm.