Alliant Techsystems, Inc. (ATK), announced Thursday that its chief financial officer (CFO), John Shroyer, will depart next month to become CFO of another company.
Tom Sexton will serve as interim CFO while ATK looks for a replacement for Shroyer, who will join Capsugel-a health-care company based in Peapack, New Jersey-in August.
Sexton is ATK's current vice president and controller. He has been with the company for 25 years and has an extensive background in all aspects of both corporate and operational finance, ATK said in a statement.
Shroyer joined ATK in 2000 and was named CFO in 2006. He has held various positions at the company, including vice president of operations, and vice president and general manager of ATK Ordnance Systems. He has also served in a series of key accounting positions, including international finance director for ATK's demilitarization operations and finance director and program manager for ATK Precision Fuze Company.
ATK has retained an executive search firm to review both internal and external candidates for the permanent CFO position.
"In the interim, we are extremely fortunate to have the depth of management experience and financial acumen Tom brings to the job," Mark DeYoung, ATK president and CEO, said in a statement. "His experience will help ensure a smooth transition until a permanent CFO is named."
ATK spokesman Bryce Hallowell told Twin Cities Business that the company does not have a specific timeframe for finding a replacement.
"We want to move expeditiously to fill the position, but we do not need to move with haste," Hallowell said.
ATK employs about 18,000 people and is among Minnesota's 20-largest public companies based on revenue, which totaled $4.84 billion for the fiscal year that ended in March.