Apogee CFO Resigns Amidst Stock Plunge and Lowered Outlook

MINNEAPOLIS, MN – January 07, 2026 – Apogee Enterprises, Inc. (Nasdaq: APOG) announced a significant leadership transition today, as Chief Financial Officer Matthew J. Osberg has resigned to pursue another professional opportunity. The change at the financial helm comes as the architectural products provider grapples with disappointing quarterly results and a lowered full-year forecast that sent its stock tumbling over 10% in early trading.

To ensure leadership continuity, the company has appointed Mark Augdahl, a seasoned finance executive who has been with Apogee since 2000, as its interim Chief Financial Officer. Osberg will remain with the company until January 16, 2026, to facilitate a smooth handover. The transition places a familiar and trusted hand in charge of the company’s finances during a period of heightened market scrutiny.

“Mark is an Apogee finance veteran, and we are grateful to have him step back into the interim CFO position,” said Chief Executive Officer Donald Nolan in a statement. Nolan also thanked the departing Osberg for his “contributions and leadership over the past three years” and wished him well.

Navigating a Challenging Financial Climate

The timing of the CFO change is notable, occurring simultaneously with the release of the company's third-quarter fiscal 2026 financial results, which fell short of market expectations. For the quarter ending November 29, 2025, Apogee reported an adjusted diluted earnings per share (EPS) of $1.02, missing analyst estimates of $1.05. On a GAAP basis, diluted EPS was $0.77, a significant drop from $0.96 in the prior-year period.

Net sales saw a modest increase of 2.1% to $348.6 million, but this growth was primarily attributed to the acquisition of UW Solutions. Stripping out the acquisition, the company’s organic revenue experienced a 3.3% decline, signaling underlying weakness. This was particularly evident in the Architectural Metals segment, which saw its net sales fall by 9.9% due to lower volume.

Investors reacted swiftly and negatively to the report and the accompanying revised outlook. Apogee lowered its full-year fiscal 2026 guidance, now expecting net sales of approximately $1.39 billion, below the analyst consensus of $1.41 billion. More critically, the company adjusted its full-year EPS forecast to a range of $3.40 to $3.50, a noticeable reduction from the previous consensus of $3.67. The company cited an estimated $0.30 per share negative impact from tariffs on Canadian aluminum as a contributing factor to its updated forecast. This confluence of negative news spurred a significant sell-off, with Apogee's shares plunging by as much as 13% in early trading, compounding a difficult year that has seen the stock decline nearly 48% over the past 12 months.

A Veteran Hand Returns to the Helm

In appointing Mark Augdahl as interim CFO, Apogee is turning to a leader with deep institutional knowledge and a proven track record of navigating transitions. Augdahl, who currently serves as the company's Chief Accounting Officer, is a 40-year finance veteran who has held numerous leadership roles since joining Apogee in 2000, including corporate controller and various Vice President of Finance positions across the organization.

Crucially, this is not his first time assuming this interim role. Augdahl previously served as interim CFO in 2022, bridging the gap between the departure of former CFO Nisheet Gupta and the hiring of Matthew Osberg. His prior experience in the role provides a layer of stability and familiarity that is likely intended to reassure investors and internal teams during this period of uncertainty. His deep understanding of Apogee’s financial processes, controls, and industry dynamics is seen as a key asset as the company continues its search for a permanent successor.

The appointment of a trusted, long-serving insider suggests Apogee’s board is prioritizing stability and operational continuity over an immediate strategic pivot. Augdahl's task will be to guide the company's financial strategy through the end of a challenging fiscal year while managing the pressures of margin compression and external economic headwinds.

The Search for a New Financial Architect

Matthew Osberg's departure comes after a tenure of approximately two years and eight months, having been appointed in April 2023. At the time of his hiring, he was touted as a “proven public company CFO” with “transformational leadership skills.” His exit during a volatile period for the company raises questions about the strategic direction and financial pressures facing the architectural products firm.

Apogee has announced it will commence a formal search for its next permanent Chief Financial Officer. This search will be critical in defining the company's financial leadership for the coming years. The board will likely seek a candidate who can not only manage the complexities of a publicly traded materials company but also act as a strategic partner to the CEO. Modern CFOs are increasingly expected to drive value creation, lead technological integration, and possess deep operational insight.

Given Apogee's current challenges—including margin pressure from rising aluminum costs, the impact of tariffs, and the need to drive organic growth—the ideal candidate will likely need a strong background in operational finance and strategic cost management. The new CFO will inherit the ongoing “Project Fortify Phase 2,” a major restructuring initiative designed to optimize the company’s operating footprint. The project is expected to deliver annualized pre-tax cost savings of $25 million to $26 million and is slated for completion by the end of fiscal 2026. Successfully executing this plan while navigating a tough market will be a primary focus for Apogee's next financial leader.