Carol Hibbard To Replace Symbotic CFO Tom Ernst Following His Retirement

Symbotic Inc. (Nasdaq: SYM), a pioneer in A.I.-driven robotics technology for the supply chain, has announced the retirement of Tom Ernst from his position as Chief Financial Officer by the end of December 2023. Carol Hibbard has been appointed as Ernst’s successor as CFO upon his retirement and will be a part of the company’s executive leadership team, reporting directly to Rick Cohen, Chairman of the Board and Chief Executive Officer.

Tom Ernst boasts an illustrious career in finance and technology spanning over three decades. He assumed the role of CFO at Symbotic in 2020, overseeing all financial functions, including guiding Symbotic through its transition to a publicly traded company in 2022. Ernst will continue to support the company as a consultant until the conclusion of the fiscal year 2024 to ensure a seamless transition.

Rick Cohen expressed his gratitude to Tom for his contributions over the past few years, acknowledging his pivotal role in leading the finance organization and facilitating Symbotic’s transformation. He commended Ernst for his instrumental role in taking the company public and for being a key partner during a period of exceptional growth. Rick Cohen wished him the best in his retirement.

Carol Hibbard is joining Symbotic from The Boeing Company, where she served as Senior Vice President and Corporate Controller, responsible for all financial reporting and regulatory compliance functions. Hibbard is a seasoned leader with extensive experience in finance, operations, and business, coupled with a strong interest in technological innovation. Before her role as Controller, Hibbard held various leadership positions at Boeing, including Vice President and CFO for Boeing Defense, Space, and Security, as well as Vice President and CFO for their Engineering, Operations, and Technology organization.

Rick Cohen expressed his excitement about Carol Hibbard joining the team, highlighting her extensive experience and financial expertise as valuable assets as Symbotic enters the next phase of its growth strategy. He emphasized that Symbotic is well-positioned for the future, with a robust leadership team, an expanding customer base, and innovative technology in the supply chain industry.

Carol Hibbard shared her enthusiasm about joining Symbotic, noting the company’s reinvention of the warehouse with its next-generation, AI-driven automation system that brings unique innovation to the supply chain. She expressed her commitment to working with the leadership team to foster continued growth and maximize value for customers and shareholders.

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