Comfort Systems CFO Bill George To Retire After 10-K; Accounting Chief Julie Shaeff Moves Up
The finance chief who has held the job since May 2005 will step down once the 2026 annual report is filed, and his successor is already in-house.
Comfort Systems USA, which provides mechanical and electrical contracting services for commercial, industrial and institutional buildings, said Thursday that Chief Financial Officer Bill George will retire after the company files its annual report for 2026. Chief Accounting Officer Julie Shaeff will succeed him as executive vice president and CFO.
A planned handoff after the 10-K
George told the company on October 16 that he intends to retire, effective after the Form 10-K for the year ending December 31, 2026 is filed. The company said his decision did not stem from any disagreement over operations, policies or practices.
Shaeff, now senior vice president and chief accounting officer, takes over as CFO when George vacates the role. The company described the move as part of its succession plan.
Her pay as CFO is not yet set: the board's Compensation Committee has not determined any changes, and the company will file an amended 8-K within four business days after it does.
Two veterans of the finance office
George helped found the company in 1997 and has been CFO since May 2005. The company's release credits him with guiding its initial public offering, its acquisition program and its capital allocation approach.
Shaeff has been chief accounting officer since May 2005. She was corporate controller from March 2002 to May 2005, and earlier worked at Browning-Ferris Industries and Arthur Andersen. She is a certified public accountant.
CEO Brian E. Lane said Shaeff has been part of the finance organization for over 25 years, and called her "the ideal person to lead our finance function going forward."
George's stock awards keep vesting
On retirement George will meet the age and service thresholds of the company's "Rule of 75," the filing says. His time-based and performance-based restricted stock units stay outstanding and continue to vest under their existing terms.
Comfort Systems' shares closed at $1279.37 on Thursday, down 8.70% for the session, before the announcement came after the close. The company describes itself as having 211 locations in 155 cities.
The amended 8-K disclosing Shaeff's compensation as CFO is due within four business days of the Compensation Committee's decision.
Sources
- 8-K Filing — COMFORT SYSTEMS USA INC (FIX) — SEC EDGAR
- Exhibit tm2628079d1_ex99-1.htm — COMFORT SYSTEMS USA INC 8-K exhibit — SEC EDGAR
