The Middleby Corporation filed a Form 8-K on November 5, 2026, disclosing that Chief Executive Officer Timothy J. FitzGerald will depart effective March 31, 2027, and that Steven P. Spittle has been promoted to President immediately and will become CEO on April 1, 2027.

Key Highlights

  • CEO departure date: Timothy J. FitzGerald will step down as CEO and from the board effective March 31, 2027.
  • Successor named: Steven P. Spittle (age 45) was promoted to President effective immediately and to CEO effective April 1, 2027.
  • Spittle's base salary: His employment agreement, dated November 4, 2026, sets an annual base salary of $850,000.
  • Severance Plan tier: Spittle was identified as a Tier I Participant under The Middleby Corporation Executive Severance Plan.
  • FitzGerald severance: Upon departure, FitzGerald will be eligible for severance benefits and pro-rated accelerated vesting of outstanding restricted stock units per his existing agreements.
  • Board membership: Spittle will also join the board upon assuming the CEO role on April 1, 2027.

Middleby CEO Transition: FitzGerald Out, Spittle In for April 2027

According to the filing, The Middleby Corporation (NASDAQ:MIDD) announced on November 5, 2026 that Timothy J. FitzGerald will transition out of his CEO role and step down from the board of directors, effective March 31, 2027. The company disclosed that during the transition period, FitzGerald will assist his successor with transition efforts while continuing to receive his base salary and remaining eligible for employee benefits, with the exception of new equity awards.

The filing states that Steven P. Spittle, age 45, was promoted to President effective immediately and will assume the CEO title on April 1, 2027, at which time he will also join the board. Spittle has served as the company's Chief Commercial Officer since February 2021. Prior to that role, the filing notes, he served as Group President of Pitco Frialator and G.S. Blodgett from March 2017 to February 2021, and as President of Pitco Frialator from April 2015 to March 2017, and had been with the company "for more than a decade in roles of increasing responsibility."

In connection with the promotions, the company disclosed that Spittle entered into an employment agreement dated November 4, 2026, providing an annual base salary of $850,000, with continued eligibility for an annual bonus under the company's management incentive programs. The filing noted that the full employment agreement will be filed with the company's Annual Report on Form 10-K for the fiscal year ending January 2, 2027. The filing also confirmed that there are no arrangements or understandings with other persons related to Spittle's selection, no family relationships between Spittle and any director or executive officer, and no material interest in any transaction requiring disclosure under Item 404(a) of Regulation S-K.

What Was Disclosed

The Middleby Corporation disclosed a CEO succession plan: Timothy J. FitzGerald will depart March 31, 2027, and Steven P. Spittle, currently Chief Commercial Officer, will become President immediately and CEO on April 1, 2027, with an annual base salary of $850,000.