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STERIS CFO Resigns, Karen Burton Appointed as Successor
ByAinvest
Thursday, Aug 7, 2025 10:32 pm ET1min read
Steris announced CFO Michael J. Tokich's resignation, effective August 18, 2025, with Karen Burton appointed as his successor. The company reported a 9% increase in total revenue and improved earnings per share in Q1 fiscal 2026. The updated fiscal 2026 outlook anticipates an 8-9% revenue increase, despite challenges like tariffs and healthcare costs.
Steris plc (NYSE: STE) has announced the resignation of Michael J. Tokich as Chief Financial Officer (CFO), effective August 18, 2025. Karen L. Burton, currently Vice President and Chief Accounting Officer, will succeed Tokich as Senior Vice President and CFO. This transition comes as Steris reported a 9% increase in total revenue and improved earnings per share in the first quarter of fiscal 2026.The company also updated its fiscal 2026 outlook, anticipating an 8-9% revenue increase. This growth is expected despite challenges such as tariffs and healthcare costs. The transition from Tokich to Burton is part of a broader strategic shift within the company, reflecting a commitment to strong financial performance and strategic alignment.
Michael J. Tokich has served as CFO since 2008, during which time Steris experienced remarkable growth, with revenue quadrupling and market capitalization increasing from $1 billion to $22 billion. Tokich will transition to the role of Senior Financial Advisor, reporting to the CEO. Karen Burton has been with the company since 2004 and served as CAO since 2017, making her a well-prepared successor. Burton will oversee all global finance functions and IT in her new role.
The most recent analyst rating on Steris stock is a Hold with a $263.00 price target. However, Spark, TipRanks’ AI Analyst, rates STE as an Outperform, with an overall score of 71. This reflects a strong financial foundation and positive earnings outlook, despite technical weakness and valuation concerns.
Steris is a leading global provider of products and services focused on infection prevention, supporting patient care with innovative healthcare and life science solutions worldwide.
References:
[1] https://www.theglobeandmail.com/investing/markets/stocks/STE/pressreleases/33978880/steris-announces-cfo-resignation-and-successor/
[2] https://www.stocktitan.net/news/STE/steris-announces-chief-financial-officer-s6ysqxn63z90.html
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