BUZZ - Forgent Power shares fall to lowest point since IPO due to CFO change

October 22 - ** Shares of US power equipment manufacturer Forgent Power Solutions (FPS.N) fell 23.7%, closing at $24.25.

** The stock has dropped to its lowest level since the company’s IPO in February this year and is on track for its biggest single-day decline.

** FPS appointed internal candidate Amy Ard as Chief Financial Officer, succeeding Ryan Fiedler.

** Fiedler will transition to an external advisory role.

** Shares of FPS were also under pressure due to a broad selloff in artificial intelligence-related stocks, as most of the company's revenue comes from data center and power grid businesses.

** FPS’s share price has fallen 10.15% from its IPO price of $27.

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