Dallas-based Jacobs Solutions Inc. (NYSE: J) has appointed its former Chief Financial Officer, Kevin Berryman, who most recently served as special advisor to the CEO, as interim CFO effective March 29, 2024. The current CFO is departing the company to pursue other opportunities.
Berryman, who joined Jacobs as executive vice president and CFO in 2014 and was appointed president and CFO in November 2019, succeeds Claudia Jaramillo, who is departing the company to pursue other opportunities.
Jacobs has initiated a search for a permanent CFO with the assistance of an executive search firm.
Jacobs CEO Bob Pragada praised Berryman as “an outstanding contributor and a valuable member of Jacobs’ executive leadership team,” noting his previous nine-year tenure as CFO “during a period of significant transformation and growth.”
In recent months, Pragada said, Berryman has provided “strategic and collaborative leadership” in overseeing the separation of Jacobs’ Critical Mission Solutions and Cyber & Intelligence businesses.
“As we build on the strong momentum across the company and execute our strategy to create a more streamlined, higher growth, higher margin portfolio, I am pleased to tap into Kevin’s continued support and experience as interim CFO,” Pragada said in a statement.
Berryman, who is a member of the boards of directors of Sealed Air Corporation and ITT Inc (NYSE:ITT), said serving as Jacobs’ CFO was “one of the most rewarding roles” of his career. He expressed his commitment to ensuring the company continues to deliver on its financial and operating objectives during the transition period to a new CFO.
“Actions being taken to optimize the company’s cost structure and accelerate profitable growth and margin expansion are delivering positive results, as the most recently reported quarter shows,” Berryman said.
Pragada thanked Jaramillo for her work over the last two years and wished her well in her future endeavors.
Jacobs also reaffirmed its previously announced expectations for adjusted EBITDA and adjusted EPS for fiscal year 2024. The company said these estimates exclude certain charges and assume contribution from the separated businesses for the full fiscal year.
According to a news release, it plans to provide additional commentary on the fiscal year 2024 update, along with fiscal second quarter results, during its upcoming earnings call currently scheduled for May 7, 2024.
Before joining Jacobs, Berryman spent nearly six years as CFO of International Flavors and Fragrances Inc., an S&P 500 company. Prior to that, he worked at Nestlé for 25 years, holding various financial and operational roles.
Jacobs, which has approximately $16 billion in annual revenue and a talent force of more than 60,000, provides a full spectrum of professional services, including consulting, technical, scientific, and project delivery for the government and private sector.
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