Specialty vehicle manufacturing company Shyft Group Inc.’s stock
SHYF,
rose 3% premarket Monday, after the company announced a leadership transition plan. The Novi, Michigan-based company said Chief Executive Daryl Adams will step down once a successor has been appointed. At that time, he will also resign from the board, but will remain with the company as adviser for six months to ensure a smooth transition. The board is working with an executive search firm to find its next CEO. The stock has gained 5.4% in the year to date, while the S&P 500
SPX,
has gained 12%.