Manhattan Associates Shares Fall After CEO Switch

Dow Jones

Feb 11, 2025

By Katherine Hamilton

Manhattan Associates shares slipped after the company chose a new chief executive officer to succeed retiring Eddie Capel.

The stock declined 10%, to $180.22, on Monday, and touched a 52-week low of $177.70 earlier in the day.

The provider of supply-chain services said Capel plans to retire Wednesday. Set to take his place is Eric Clark, who has been serving as chief executive of NTT Data North America since April 2024.

Capel has been CEO since January 2023, and served as the company's chief operating officer before that. He has been at Manhattan Associates for about 25 years.

Manhattan Associates said it plans to pay Clark a base salary of $800,000, plus a cash signing bonus of $3 million and a stock unit grant worth $8 million.

Capel made a base salary of $700,000 in 2023. His total compensation that year was $10.4 million, according to a filing with the Securities and Exchange Commission.

Write to Katherine at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

February 10, 2025 14:05 ET (19:05 GMT)

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