MillerKnoll, Inc. has announced that its Board of Directors has appointed Jeffrey M. Stutz as the company's Chief Executive Officer and a member of the Board, effective October 21, 2026. Mr. Stutz succeeds the role of Interim Chief Executive Officer, which he had held since June 30, 2026.

Mr. Stutz brings over 25 years of experience in the design and manufacturing industry. Prior to his interim role, he served as Chief Operating Officer from September 2025, overseeing the International Contract segment, global manufacturing operations, and European-based brands including HAY, Muuto, Colebrook Bosson Saunders (CBS), and NaughtOne. Before becoming COO, Mr. Stutz served as Chief Financial Officer for more than 10 years, managing global financial operations.

In connection with his appointment, the Board has increased its size from ten to eleven members. Mr. Stutz has entered into an offer letter that details his compensation terms. Effective upon his start date, he will receive an annual base salary of $1,000,000. He is eligible to participate in the company's annual incentive plan with a target opportunity of 125% of his base salary, and the long-term incentive plan with a target opportunity of 400% of his base salary.

The offer letter includes a one-time equity grant with an aggregate target grant date value of $1,075,000. This grant is intended to cover the difference between the target grant date value of his previous annual equity grant and his new annual target value. The grant will be delivered 60% in performance stock units and 40% in restricted stock units under the 2026 Long-Term Incentive Plan.

Additionally, the offer letter provides for severance benefits. If Mr. Stutz’s employment is terminated by the Company without cause or by Mr. Stutz for good reason, subject to a release of claims, he is entitled to 18 months of base salary and benefits continuation, provided the termination occurs outside of a two-year window following a change in control.

The company also amended Mr. Stutz’s existing Management Continuity Agreement. The amendment increases the cash severance multiple from two times to three times and extends the benefits continuation period from 24 months to 36 months, applicable upon a qualifying termination within two years following a change in control.