YETI Taps Home Depot Veteran as CFO to Drive Profitability and Growth

AUSTIN, Texas – February 19, 2026 – YETI Holdings, Inc. (NYSE: YETI) today announced a pivotal change in its executive suite, appointing Scott Bomar as its new Senior Vice President, Chief Financial Officer, and Treasurer. The move, effective February 23, 2026, signals a strategic pivot for the premium outdoor brand as it seeks to fortify its financial operations for a new phase of global expansion and enhanced profitability.

Bomar, a seasoned executive with a formidable background in large-scale retail, succeeds Mike McMullen, who will transition into an advisory role until May 31, 2026, after a decade of service. The appointment comes at a crucial time for YETI, as it navigates margin pressures from tariffs while capitalizing on strong international sales momentum.

A New Era of Financial Discipline

Scott Bomar joins YETI from a nearly two-decade tenure at The Home Depot, Inc., where he honed a reputation for rigorous financial management and operational excellence. Most recently serving as Senior Vice President of Finance, he was instrumental in planning and executing against the retail giant's financial targets. His experience, however, extends far beyond traditional financial oversight.

Bomar's career at Home Depot included direct operational responsibilities, such as leading the company's $5 billion Home Services business unit and its retail operations in China. This blend of financial acumen and hands-on operational leadership is precisely what YETI's leadership sought. He also previously served as CFO for Deluxe Corporation, where he helped guide the payments and business technology company through a significant transformation.

“Scott brings to YETI more than 20 years of financial and operational leadership across global, consumer‑focused retail environments, as well as a blend of strategic insight, deep financial acumen and operational rigor, and experience scaling high‑growth businesses,” said Matt Reintjes, President and CEO of YETI, in the official announcement. Reintjes emphasized Bomar's track record in driving “cost management, operating efficiency and margin enhancement,” key areas of focus for YETI moving forward.

In his new role, Bomar is expected to leverage his experience with data-driven analytics to sharpen YETI's strategic decision-making and support its ambitious growth initiatives. “It is an honor to join YETI, a brand I have long admired for its leadership in the outdoor products space and deep connection with consumers,” Mr. Bomar stated. “I am excited to join the team and partner with Matt and the broader leadership and finance organization to continue to ensure disciplined execution and drive long-term shareholder value.”

Navigating the Financial Headwinds

Bomar steps into his role as YETI navigates a complex financial environment. The company just reported its fiscal 2025 results, which painted a picture of both robust opportunity and significant challenges. On one hand, YETI posted a 25% year-over-year surge in international net sales in its fourth quarter, a key driver of its overall 5% adjusted sales growth. This performance, led by Australia, Europe, and a successful launch in Japan, underscores the vast global runway ahead for the brand.

On the other hand, profitability is under pressure. Adjusted gross margins contracted by 180 basis points in the fourth quarter to 58.4%, largely due to a 310-basis-point unfavorable impact from higher tariff costs. While the company has proactively shifted 80% of its U.S. drinkware production out of China to mitigate this, the headwinds persist. For fiscal 2026, YETI projects an incremental net tariff headwind of $0.35 per share.

This dynamic sets a clear mandate for the new CFO. YETI’s 2026 outlook calls for 6% to 8% sales growth but a flat adjusted operating margin of approximately 14.4%, reflecting the ongoing tariff impact. Bomar’s expertise in cost management and operational efficiency will be critical in protecting and eventually enhancing margins while the company continues to invest in growth.

An Evolution in Leadership

The transition from Mike McMullen to Scott Bomar represents a natural evolution for YETI. McMullen’s ten-year tenure was foundational for the company. He was a key figure in YETI’s transformation from a private, cult-favorite cooler company into a publicly traded, global lifestyle brand. His leadership through the 2018 IPO was a watershed moment, and he oversaw a period of explosive growth and expansion.

“On behalf of the entire YETI team, I thank Mike for his decade of service,” Reintjes commented. “Mike has been a valued member of our team and played an important role in our transformation.” McMullen himself reflected on the journey, stating, “It has been a privilege to lead our exceptional finance function and be a part of the YETI team over the past decade… I am confident the finance organization is in good hands with Scott.”

This succession signals a shift in strategic focus. Where McMullen’s era was defined by managing the complexities of a high-growth IPO and initial scaling, Bomar’s tenure will be about optimizing a more mature, global operation for sustained, profitable growth. This aligns with a broader trend in the retail sector, where CFOs are increasingly expected to be strategic operational partners, not just financial scorekeepers.

The Playbook for Profitable Expansion

Investors and analysts appear to view the leadership change and YETI’s strategic direction favorably. Around the time of the announcement, several analyst firms, including Piper Sandler, Roth/MKM, and KeyBanc, upgraded their ratings or price targets for YETI, citing positive momentum in sales, improvements in the supply chain, and an accelerating growth trajectory.

The company’s 2026 plan involves a multi-pronged strategy that Bomar is now tasked with helping to execute. This includes planned share repurchases of $100 million and capital expenditures of $60 million to $70 million earmarked for technology, product innovation, and supply chain initiatives. The core strategic priorities remain clear: drive product innovation across its drinkware and coolers & equipment lines, broaden the brand's reach to new audiences, and aggressively expand its global footprint.

Bomar’s appointment is a clear signal that YETI is arming itself with the financial leadership required to execute this plan with discipline. His experience scaling a multi-billion-dollar business at Home Depot provides a playbook for managing YETI’s international expansion and operational complexity. His proven ability to enhance margins and drive efficiency will be directly applied to combat tariff pressures and optimize the company’s cost structure, ensuring that top-line growth translates into long-term shareholder value.