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[BUSINESS] · United States · 4 sources

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Forgent Power Solutions shares plunge below IPO price

Forgent Power Solutions Ryan Fiedler stock market crash CFO departure electrical equipment

Shares of electrical equipment manufacturer Forgent Power Solutions (FPS) fell more than 23% on Thursday, hitting a record low and dropping below its February initial public offering price of $27. The stock decline follows the announcement that Chief Financial Officer Ryan Fiedler is stepping down to spend more time with his family. Fiedler, who joined the company in mid-2025, will transition into an external consulting role.

The company has appointed Amy Ard, the current Executive Vice President of Finance, as Fiedler’s successor. Despite the stock volatility, Forgent recently reported record revenue and a $3 billion backlog in its fiscal fourth quarter, with revenue increasing 94% year over year.

The selloff comes after the stock reached an intraday high of $66 in June, representing a roughly 63% decline from its peak. The decline occurred amid broader market pressure on stocks tied to data center and AI investments.

Entities

Amy Ard · Forgent Power Solutions · Morgan Stanley · New York Stock Exchange · Ryan Fiedler

Claims

What the coverage asserts, and how many sources carry each claim.

Sources

Forgent Names Amy Ard CFO as CFO Ryan Fiedler Steps Down | TokenPost [www.tokenpost.com]
Forgent Power CFO leaves after a year [www.cfodive.com]
Forgent Power Solutions Stock Crashes 23% Below IPO Price After CFO Ryan Fiedler Exits to Spend Family Time [www.ibtimes.com.au]
FPS Stock Plunges To Record Low, Falls Below IPO Price After CFO Ryan Fiedler's Exit [newsable.asianetnews.com]