The looming presidential election is still sparking uncertainty in the industry, pushing manufacturers to spend with caution.

Bolstering the case for CFO caution, the Conference Board’s Leading Economic Index declined in August for the sixth consecutive month.

The appointment comes after a predecessor, Shane Fitzsimons, stepped down for medical leave in 2023 and later passed away.

He replaces Michael Fiddelke, who had served jointly as COO and CFO since February. Fiddelke will stay on as operations chief.