The Shyft Group, known for making special vehicles, has announced that Colin Hindman, their Chief Human Resources Officer (CHRO), will be leaving the company. The Board of Directors decided to end Mr. Hindman’s employment without cause, effective June 14, 2024.
Mr. Hindman will start handing over his responsibilities today and will completely step down over the next two weeks. According to the company’s Executive Severance Plan, he will get the compensation and benefits that come with a termination without cause. More details about his departure will be provided in a transition and separation agreement soon.
The Shyft Group hasn’t chosen a new CHRO yet. Investors and industry experts will be paying close attention to how the company handles Mr. Hindman’s duties and selects a new officer.
The full details of the termination and transition will be shared once the separation agreement with Mr. Hindman is finalized. This move is part of The Shyft Group’s ongoing efforts to manage their organization and has been officially reported in a recent SEC filing to keep everything transparent for stakeholders and the public.