Helios Technologies' Strategic CFO Appointment and Its Impact on Shareholder Value

Helios Technologies’ recent appointment of Michael Connaway as Chief Financial Officer (CFO) marks a pivotal shift in the company’s financial strategy, signaling a commitment to disciplined cost management and operational efficiency. Connaway, who brings over two decades of experience from roles at Honeywell, ABB, and General Electric, replaces Sean Bagan, who will focus exclusively on his CEO role. This leadership change, paired with Jeremy Evans’ promotion to Chief Accounting Officer, aims to strengthen Helios’ financial infrastructure and align its operations with long-term growth objectives [1].

Connaway’s track record at previous companies underscores his ability to drive profitability through strategic financial planning. At Aviat Networks, where he served as CFO from May 2024 until his departure in August 2025, Connaway oversaw a tripling of Q4 2025 net income to $4.5 million and a 17.6% increase in non-GAAP Adjusted EBITDA to $14.0 million [2]. His focus on capital allocation and tax optimization during this period contributed to Aviat’s operational efficiency, demonstrating his capacity to balance short-term gains with long-term value creation. Similarly, at Honeywell’s Energy & Sustainability Solutions segment—a $7 billion division—Connaway emphasized disciplined cost management and operational performance management, roles that required navigating complex global financial systems [3].

The strategic implications of Connaway’s appointment extend beyond immediate financial metrics. His experience at ABB, where he led the integration of the Industrial Solutions business into ABB’s Electrification segment, highlights his expertise in post-merger synergies and process discipline [4]. These skills are critical for Helios, which has signaled a need to streamline operations and enhance market competitiveness. By leveraging automation and process evaluation, Connaway aims to reduce redundancies and improve productivity, a strategy that aligns with Helios’ stated goals of sustainable growth and shareholder value [5].

Complementing Connaway’s leadership is Jeremy Evans, the newly promoted Chief Accounting Officer. Evans, who has streamlined financial reporting and internal controls since joining Helios in 2024, brings 25 years of financial management experience. His role in maintaining a robust internal control environment will be instrumental in ensuring transparency and regulatory compliance, further bolstering investor confidence [6].

The combined expertise of Connaway and Evans positions Helios to navigate macroeconomic challenges while capitalizing on growth opportunities. Connaway’s emphasis on cost management—evidenced by his work at ABB and Honeywell—suggests a potential for improved gross margins and EBITDA expansion. For instance, during his tenure at ABB’s Industrial Solutions business, Connaway fostered a culture of performance excellence, which likely contributed to ABB’s record EBITA margins of 19.2% in 2020 [7]. If Helios can replicate such outcomes, investors may see a direct correlation between its financial discipline and stock price appreciation.

Critically, Connaway’s departure from Aviat Networks coincided with strong Q1 2025 earnings, including $112.6 million in revenue and $0.88 EPS, indicating that his strategies can sustain momentum even during transitions [8]. This continuity of performance suggests that Helios’ new CFO can maintain operational stability while implementing transformative initiatives.

In conclusion, Helios Technologies’ strategic CFO appointment reflects a calculated effort to enhance financial discipline and operational efficiency. By leveraging Connaway’s proven expertise in cost management and capital allocation, the company is well-positioned to drive sustainable growth and deliver long-term value to shareholders. As the market watches for execution, the success of this leadership transition will hinge on Helios’ ability to translate Connaway’s strategies into measurable outcomes.

Source:
[1] Helios Technologies Fortifies Finance and Accounting Leadership Team [https://www.heliostechnologies.com/investors/news-events/press-releases/detail/335/helios-technologies-fortifies-finance-and-accounting]
[2] Aviat Networks’ Leadership Transition and Strategic Implications [https://www.ainvest.com/news/aviat-networks-leadership-transition-strategic-implications-evaluating-impact-cfo-michael-connaway-departure-investor-confidence-capital-allocation-strategy-2508/]
[3] Michael Connaway | Management [https://investors.aviatnetworks.com/management/michael-connaway]
[4] Aviat Networks Appoints Michael Connaway as Chief Financial Officer [https://investors.aviatnetworks.com/news-releases/news-release-details/aviat-networks-appoints-michael-connaway-chief-financial-officer]
[5] Helios Technologies adds two leaders to C-suite roles [https://www.businessobserverfl.com/news/2025/aug/28/helios-technologies-leadership/]
[6] Helios Technologies, Inc. Promotes Jeremy Evans to Chief Accounting Officer [https://www.marketscreener.com/news/helios-technologies-inc-promotes-jeremy-evans-to-chief-accounting-officer-effective-september-1-ce7c50dcd98df12c]
[7] ABB Ltd. (ABB) | Finance Information [https://stockcircle.com/stocks/abb]
[8] Aviat Networks Announces Fiscal 2025 Third Quarter and Nine Month Financial Results [https://investors.aviatnetworks.com/news-releases/news-release-details/aviat-networks-announces-fiscal-2025-third-quarter-and-nine]