Guardian Pharmacy Services: Internal succession plan supports continuity

Research evidence excerpt

Guardian Pharmacy Services: Internal succession plan supports continuity

Accessible version

Guardian Pharmacy Services

Internal succession plan supports

continuity

Maintain Rating: BUY | PO: 47.00 USD | Price: 42.41 USD

The News: GRDN announces leadership transitions 22 June 2026

After market close, Guardian Pharmacy Services announced Kendall Forbes, EVP of Sales Equity

& Operations since 2004 will retire effective July 1, 2026. EVP and CFO David Morris will

Allen Lutz, CFA

assume the role of Chief Operating Officer, while SVP of Finance Will Mudd has been Research Analyst

appointed CFO of Guardian. Mr. Morris has served as CFO since the company’s founding BofAS +1 646 855 4380

while Mr. Mudd has served as SVP of Finance since 2012, overseeing financial allen.lutz@bofa.com

accounting and reporting, revenue cycle management, and human resources. Prior to Hanna Lee

joining Guardian, Mr. Mudd spent 10 years with the audit services group at Grant Research Analyst BofAS

Thornton. +1 646 855 3682

hanna.y.lee@bofa.com

Dev WeerasuriyaWhy It Matters: seamless transition w/ internal promotes Research Analyst

We view today’s leadership transition as a non-event. We met Guardian’s incoming CFO BofAS

Will Mudd at the site tour in Ohio last week and we are confident in the transition (see +1dev.weerasuriya@bofa.com646 855 5707

our takeaways here). Importantly, Will Mudd has worked at Guardian since 2012, and

based on our conversations last week, is a firm believer in Guardian’s current business

and capital deployment strategy. Separately, current CFO and co-founder of the business

Stock DataDavid Morris (who is taking over as COO) is clearly qualified to take over the COO role.

We continue to have a favorable view of the trajectory of the Guardian business. The Price 42.41 USD