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Mark Okerstrom, CFO of Fortive. (LinkedIn Photo)
Former Expedia CEO Mark Okerstrom is taking the role of chief financial officer for Everett, Wash., manufacturing conglomerate Fortive.
Okerstrom is a longtime Seattle-area tech leader who spent 13 years at travel giant Expedia, serving as CFO, executive vice president of operations and ultimately CEO.
He was also president and chief operations officer of Seattle trucking marketplace startup Convoy, which reached a $3.8 billion valuation but suddenly closed in 2023.
Okerstrom was more recently an advisor for Advent and Bain & Company.
“Mark is a proven public company CFO who has overseen significant shareholder value creation through disciplined profitable growth, innovation, and returns-focused capital allocation,” James Lico, Fortive president and CEO, said in a statement.
Fortive has 18,000 employees internationally and works on technologies in healthcare; office, university and warehouse building operations; and other industries.
Okerstrom is taking over from Chuck McLaughlin, who is retiring March 24. McLaughlin was CFO and senior vice president of Fortive for more than nine years and will remain in a non-executive officer position through this year to assist with the transition.
Fortive recently announced that its precision technologies segment was spinning out to become an independent, public company named Ralliant. The new company is providing technologies for customers in test and measurement and specialty sensors, as well as in aerospace, defense and space subsystems. The creation of Ralliant led to changes in leadership and within Fortive’s board of directors.
Fortive’s revenues increased 3% year-over-year to $6.23 billion in 2024, according to financial results released last month.
The company has an ongoing collaboration with Pioneer Square Labs, the Seattle-based startup studio.
