Leadership Shift at H.B. Fuller: Lee Mitau Steps Down as Chair

GasFeeCrybaby · 2026-02-03T04:07:22+00:00

H.B. Fuller has appointed Teresa Rasmussen as the new chair of its board, succeeding Lee Mitau. This leadership transition comes amid organizational adjustments and lower-than-expected earnings, offering a chance for new strategic direction.

GasFeeCrybaby

2026-02-03 04:07:22

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H.B. Fuller, a major player in the industrial adhesives and coatings sector, has announced a significant leadership transition. Teresa Rasmussen has been named the new chair of the company’s board of directors, taking over from Lee Mitau, with the change officially taking effect on January 22, 2025. This move marks another key shift in the company’s executive ranks after the recent retirement of executive Traci Jensen.

Strategic Board Transition

The appointment of Teresa Rasmussen as chair represents a pivotal moment for H.B. Fuller’s governance structure. Lee Mitau’s departure from the chairman position closes a chapter in the company’s leadership while opening new opportunities under Rasmussen’s direction. The transition reflects the company’s ongoing efforts to refresh its board leadership and ensure continued strategic oversight.

Backdrop of Organizational Changes

The timing of Lee Mitau’s retirement comes amid broader organizational adjustments at H.B. Fuller. The company has been navigating challenges in recent quarters, with adjusted EPS targets being revised downward in its latest fiscal guidance. In the most recent quarter, the company reported adjusted EPS of $1.13, falling short of the $1.23 consensus estimate, and subsequently lowered its full-year 2024 adjusted EPS guidance to a range of $4.10-$4.20 from the previously projected $4.20-$4.45.

What’s Next

Teresa Rasmussen’s elevation to the chair position marks an opportunity for fresh perspectives and renewed focus on operational performance and shareholder value. How the new leadership navigates the company’s near-term challenges and sets its strategic priorities will be critical for H.B. Fuller’s trajectory moving forward.

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