Key Personnel Change: Home Depot Veteran Takes Over YETI's Financial Leadership

YETI Holdings announced on Thursday via a press release and securities filing that it has appointed Scott Bomar, a senior executive from The Home Depot, as Chief Financial Officer (CFO), effective February 23. Bomar will succeed Mike McMullen, who has served as YETI's CFO and Treasurer since 2023. YETI is a cooler and drinkware manufacturer headquartered in Austin, Texas.

According to the filing submitted to the U.S. Securities and Exchange Commission (SEC), Bomar will also serve as the company's Treasurer and Principal Accounting Officer. Prior to joining YETI, Bomar spent more than two decades at Home Depot, most recently serving as Senior Vice President of Finance since 2022.

Earnings Snapshot: International Business Drives Growth in Q4

In a separate press release issued Thursday, YETI also reported its financial results for the fourth quarter and full year of fiscal 2025. The data shows that for the quarter ended January 3, the company's net sales increased 7% year-over-year to nearly $584 million, driven primarily by a 25% year-over-year increase in international net sales.

Details of McMullen's Departure and Transition Arrangements

McMullen is a decade-long veteran of the drinkware retail industry and, according to his LinkedIn profile, has served as YETI's CFO and Treasurer since 2023. The filing shows that YETI notified McMullen on February 13 that his role as the top financial officer would end on February 23.

According to the filing, McMullen will provide transition services to the company as a consultant until May 31, for a fee of $10,000 per month, or $30,000 in total. In addition, he is entitled to severance benefits under a separation agreement reached with YETI.

In a statement included in the press release, YETI's Chief Executive Officer and President Matt Reintjes said: "McMullen played a key role in our transformation, including helping take the company public in 2018 and overseeing significant growth and expansion during his tenure. We appreciate that Mike will continue to contribute his guidance and expertise to facilitate a smooth transition, and we wish him all the best in his future endeavors."

Bomar's Career Background and Compensation Package

According to his LinkedIn page, Bomar joined Home Depot in 2005 as Director of Merchandising Strategy and held various executive and finance positions during his tenure. He briefly left in 2021 to serve as CFO of Deluxe, a payments company, before rejoining Home Depot in October 2022 as Senior Vice President of Finance until this new appointment.

The filing shows that as CFO, Bomar's annual base salary will be $725,000. His target bonus under YETI's short-term incentive plan will be 100% of his base salary, and his long-term incentive award will be 250% of his base salary. Additionally, Bomar will receive a $500,000 signing bonus, a restricted stock unit (RSU) signing grant valued at $2.5 million, and a performance-based RSU grant valued at $1 million.

Reintjes commented: "Throughout his career, Bomar has led significant financial transformations, strengthened international business operations, and partnered with leadership teams to drive long-term strategy and value creation. With the current business momentum and the significant opportunities ahead of us, we will work together to seize meaningful growth opportunities for YETI's future. This includes driving product innovation, expanding our global footprint, and further penetrating our total addressable market."

International Expansion Strategy and Performance Highlights

Bomar's appointment comes as YETI seeks to intensify its international growth efforts. The company achieved its highest growth rate of the year in the fourth quarter of fiscal 2025, which Reintjes said in a statement in the earnings press release "demonstrates the significant upside that remains in markets outside the United States."

According to the press release, international sales for the quarter jumped to $136 million from approximately $109 million in the same period last year, with growth led by Australia and Europe, while YETI's business launched in the Japanese market in the second quarter of 2025 also maintained "continued growth momentum." Full-year net income, however, decreased 6% year-over-year to over $165 million.