SEC Filings

Middleby Picks Steve Spittle For CEO Handoff After Commercial Kitchen Business Overhaul

Spittle takes the president role immediately and is scheduled to become CEO on April 1, 2027, succeeding Tim FitzGerald.

Matteo Parrino Jonathan Ponciano

Matteo Parrino, Jonathan Ponciano

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Middleby Picks Steve Spittle For CEO Handoff After Commercial Kitchen Business Overhaul

Middleby, which makes and services commercial kitchen equipment, named Chief Commercial Officer Steve Spittle its next CEO Thursday, with the handoff scheduled for April 1, 2027, according to an SEC filing. Spittle becomes president immediately as Tim FitzGerald prepares to leave a company now focused on commercial foodservice following its portfolio overhaul.

A Narrower Business For Spittle

The leadership change follows the sale of a 51% stake in Middleby’s Residential Kitchen business to 26North in the first quarter. July brought the completed separation of its Food Processing business into Midera, an independent public company.

FitzGerald became CEO in 2019 and led that transformation, the company said. Explaining his decision, FitzGerald said, “with the portfolio transformation complete the timing is right for Steve, an exceptional leader, to take the Company to new heights”.

The remaining commercial business supplies restaurants, retailers, hotels and institutions with ovens, fryers, refrigeration, ice machines and beverage equipment. Dealers and distributors are its primary sales channels, and its products and services are marketed in the United States and more than 100 countries.

MIDD shares jumped about 5% to $136.50 at Friday's close. Middleby’s market value was $5.9 billion at Friday's close.

From Pitco To The Top Job

Spittle joined Middleby in 2010 and has been chief commercial officer since February 2021. His responsibilities have included commercial strategy, global sales and marketing, and relationships with restaurant chains, operators and dealers.

His operating experience includes leadership of Pitco and Blodgett, with responsibility for customer relationships, daily operations and profit and loss. Spittle also has served on the board of the North American Association of Foodservice Equipment Manufacturers since 2015 and was its president for the 2024–2025 term.

Middleby Chairman Gordon O’Brien described the choice as a planned succession: “This succession reflects the Board's deliberate planning and our full confidence in Steve.”

Salary And Departure Terms

Spittle’s new employment agreement sets his annual base salary at $850,000, effective immediately. He remains eligible for an annual management incentive bonus and has joined the company’s executive severance plan; that agreement lets him resign for good reason if he does not become CEO by April 1, 2027.

FitzGerald will continue running Middleby and helping Spittle through the transition. He retains his salary and employee benefits during that period but will not receive new equity awards.

Upon departure, FitzGerald becomes eligible for severance under his employment agreement and prorated accelerated vesting of outstanding restricted stock units—share awards that otherwise vest over time.

FitzGerald’s departure is effective March 31, 2027. Spittle is scheduled to take the CEO role and join Middleby’s board on April 1, 2027, replacing FitzGerald.

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