Fortive Corp., the $25 billion conglomerate, plans to spin off its industrial test and measurement business to concentrate on software and health care.
The company announced on Wednesday that it’s separating the gauging unit into a publicly traded company. The remaining business will comprise Fortive’s industrial software and health-care operations.
Fortive Chief Executive Officer Jim Lico, 58, will step down upon completion of the breakup, which is expected to occur in the fourth quarter of 2025. Olumide Soroye, who currently leads Fortive’s intelligent operations division, will then take over as CEO. Tami Newcombe, who currently oversees ...
