Vestis Corporation announced the appointment of Russell Tiejema as Executive Vice President and Chief Financial Officer, effective September 28, 2026. Mr. Tiejema succeeds Adam K. Bowen, who served as Interim CFO since December 16, 2025. Mr. Bowen will remain with the company through the end of October to assist with the transition.
Mr. Tiejema brings more than 30 years of finance and leadership experience. His most recent role was Executive Vice President and Chief Financial Officer of US LBM, a specialty building materials distributor, from June 2024 to July 2026. Prior to that, he served as CFO of Masonite International Corporation from November 2015 to May 2024. Earlier in his career, he held financial leadership roles at Lennox International and spent over 20 years at General Motors.
The company disclosed the terms of Mr. Tiejema’s employment agreement. His initial annual base salary is set at $700,000. Beginning with the fiscal year 2027, he is eligible for a target annual bonus equal to 100% of his base salary. He is also entitled to an annual equity award under the Vestis Long-Term Incentive Plan with a target grant date value of $1,750,000.
In connection with his start date, Mr. Tiejema will receive a one-time sign-on award valued at $2,500,000. This award will consist of 50% restricted stock units and 50% nonqualified stock options, granted on the first day of fiscal year 2027. The sign-on award will vest ratably over three years.
The filing details severance terms for Mr. Tiejema. Upon termination without cause or for good reason, he is entitled to 12 months of severance payments equal to the sum of his base salary and target bonus. In the event of a qualifying termination related to a change of control, he is eligible for a lump sum payment equal to 1.5 times that sum. The agreement also includes perpetual non-disclosure covenants and a 12-month post-employment non-compete period.
