Milwaukee-based Gardner Denver Inc. has named Neil Snyder as the successor to its current chief financial officer.
Snyder will replace Todd Herndon on Jan. 1. Herndon plans to retire later in 2019 but will stay on in an executive capacity to assist with the transition.
Vicente Reynal, Gardner Denver chief executive officer, said Snyder brings a comprehensive knowledge of the company and its end markets along with strong financial expertise.
“His experience leading our business development function makes him particularly well suited to take on this important leadership role during Gardner Denver’s next chapter of transformation. I am excited to have him as my partner as we continue moving the company forward,” Reynal said.
Snyder joined Gardner Denver in March 2016 as vice president of strategy and planning for the industrial segment. He was promoted to senior vice president of strategy, business development and planning in January 2017. In August 2018 he took on more responsibilities as senior vice president of global finance, business development and planning.
Snyder will have a base salary of $425,000 and an annual bonus opportunity equal to 65 percent of his base pay. He is also eligible for a long-term equity incentive award for 2019 with a target value of $725,000.
“Having worked with Neil for many years, I can attest that he has all of the knowledge and skills needed to be a successful CFO, and I can think of no one better to fill this critical role at Gardner Denver,” Herndon said. “We have been planning this transition for some time, and Neil’s experience, knowledge of Gardner Denver and the expansion of his responsibilities this last summer will allow for a seamless transition.”
Herndon had been CFO since October 2016.
