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In response to the financial setback, Griffon’s board has appointed Ronald Kramer, who is currently serving at Wynn Resorts (NASDAQ:WYNN), as their new CEO. Kramer is set to assume his new role starting April 1.
Alongside these developments, Griffon’s share price experienced a sharp surge of 23.4%. The leap in stock value came after the company announced a strategic review aimed at enhancing shareholder value and directing acquisition and growth opportunities. The review is part of Griffon’s strategic plan to navigate through the current financial challenges and establish a solid footing for future growth.
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