MillerKnoll's board appointed Jeff Stutz as Chief Executive Officer and a board member, effective October 21, 2026, ending his service as interim CEO that began in June 2026. The board also increased its size from ten to eleven members, and the offer letter sets out his pay, equity grant and severance terms.
Stutz appointed CEO and to the board effective October 21, 2026; board expanded from ten to eleven members
Base salary of $1,000,000, with target annual incentive of 125% and target long-term incentive of 400% of base salary
One-time step-up equity grant with a target grant date value of $1,075,000, delivered 60% in performance stock units and 40% in restricted stock units
Change-in-control severance multiple raised from two to three times, and benefits continuation extended from 24 to 36 months
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