MasterBrand, Inc. (NYSE: MBC) announced on October 26, 2026, that Andrea Simon has ceased serving as Chief Financial Officer effective October 23, 2026. Ms. Simon will remain with the company in a non-executive advisory role until March 31, 2027, to facilitate an orderly transition of her duties. The departure is not related to any disagreements regarding the company's financial statements, operations, or policies.
Under the terms of a Separation Agreement and Release, Ms. Simon will continue to receive her base salary and health benefits through March 31, 2027. She is eligible to receive a pro-rated annual bonus for 2027 based on actual performance and will receive payments for any outstanding equity awards that vest prior to her separation. Additionally, she is entitled to a cash payment of $165,900 for the cancellation of an integration restricted stock unit award granted on June 3, 2026, subject to the execution of a release of claims.
In connection with the transition, the company has appointed Mark A. Young, currently Vice President and Chief Accounting Officer, as Interim Chief Financial Officer, effective October 23, 2026. Mr. Young, age 49, will continue in his role as Chief Accounting Officer while serving as Interim CFO. He will receive a monthly stipend of $15,000 and a 30% increase in his annual bonus target, resulting in an adjusted target equal to 80% of his base salary. He is also eligible for a one-time cash retention award of $150,000 payable on the 18-month anniversary of his appointment, subject to continued employment.
Mr. Young has over 20 years of experience in finance and accounting leadership. Prior to joining MasterBrand in 2022, he served as Vice President and Chief Accounting Officer of Cooper Tire & Rubber Company. The company has initiated a search process with the assistance of an executive search firm to identify a permanent Chief Financial Officer.
