Columbus McKinnon Announces Appointment of Chris Stephens Jr. to Board of Directors
18 Março 2024 - 9:00AM
Business Wire
Columbus McKinnon Corporation (Nasdaq: CMCO) (“Columbus
McKinnon” or the “Company”), today announced the appointment of
Chris J. Stephens Jr. to its Board of Directors effective
immediately. Stephens will also serve as a member of the Audit
Committee and Human Capital, Compensation and Succession Committee
leveraging his 35 years of experience in financial and operational
leadership.
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“We’re pleased to add Chris’s skills and experience to our
talented Board as we continue to execute on our transformation and
growth strategy,” said David Wilson, President and Chief Executive
Officer. “In addition to Chris’s wide breadth of experience, he
brings a deep and proven track record of executing business
transformations and growing businesses both organically and through
M&A in attractive end markets. His background and leadership
are a great complement to our Board’s existing transformational and
financial expertise, and we believe he will be an important asset
to our team as we advance our journey.”
Stephens is a seasoned, global industrial leader and most
recently served as the Senior Vice President and Chief Financial
Officer of Sealed Air Corporation. Prior to joining Sealed Air,
Stephens served as the SVP and Chief Financial Officer of Barnes
Group. In his roles as Chief Financial Officer, he was a critical
leader driving strategic transformation to deliver growth and
operating leverage.
“I am thrilled to partner with David and the Board to support
the advancement of Columbus McKinnon’s strategy. The team is
executing on its transformation to become a global leader in
intelligent motion solutions and has made notable progress
leveraging its proven playbook for growth and delivering operating
efficiency and margin expansion,” said Stephens. “CMCO’s
differentiated strategy and market positioning has already made it
a formidable player in the category, and I’m excited to contribute
to the advancement of the Company’s strategic agenda and financial
goals."
Stephens also served in a variety of Finance leadership roles at
both Boeing and Honeywell. Through these roles, he has demonstrated
his extensive industrial expertise, operational capabilities, and
financial acumen. He earned a master’s in business degree from
Virginia Tech’s Pamplin School of Business and a bachelor’s degree
in accounting from King’s College.
Stephens also serves on the Board of Directors of PGT
Innovations and as a member of Fairfield University’s Dolan School
of Business Advisory Board. Previously, he served as Chair of the
Manufacturers Alliance CFO Council, was a member of the Connecticut
Business Industry Association Board of Directors and was a member
of Loyola Marymount University’s Business School Advisory
Board.
In connection with Stephens’ appointment, the Columbus McKinnon
Board now consists of nine members including eight independent
members.
About Columbus McKinnon Columbus McKinnon is a leading
worldwide designer, manufacturer and marketer of intelligent motion
solutions that move the world forward and improve lives by
efficiently and ergonomically moving, lifting, positioning, and
securing materials. Key products include hoists, crane components,
precision conveyor systems, rigging tools, light rail workstations,
and digital power and motion control systems. The Company is
focused on commercial and industrial applications that require the
safety and quality provided by its superior design and engineering
know-how. Comprehensive information on Columbus McKinnon is
available at www.cmco.com.
Safe Harbor Statement This news release contains
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are generally identified by the use of forward-looking
terminology, including the terms “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “illustrative,”
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“potential,” “predict,” “project,” “shall,” “should,” “target,”
“will,” “would” and, in each case, their negative or other various
or comparable terminology. All statements other than statements of
historical facts contained in this document, including, but are not
limited to, statements relating to: (i) our strategy, outlook and
growth prospects and our fourth quarter fiscal 2024 net sales; (ii)
our operational and financial targets and capital distribution
policy; (iii) general economic trend and trends in the industry and
markets; (iv) the risk and costs associated with the integration
of, and our ability to integrate acquisitions successfully to
achieve synergies; (v) the proper application of generally accepted
accounting principles, which are highly complex and involve many
subjective assumptions, estimates and judgements; (vi) the
effectiveness of our new facility in Monterrey, Mexico to provide
cost savings and margin improvement and (vii) the competitive
environment in which we operate; are forward looking statements.
Forward-looking statements are not based on historical facts, but
instead represent our current expectations and assumptions
regarding our business, the economy and other future conditions,
and involve known and unknown risks, uncertainties and other
factors that could cause the actual results, performance or
achievements of the Company to differ materially from any future
results, performance or achievements expressed or implied by the
forward-looking statements. It is not possible to predict or
identify all such risks. These risks include, but are not limited
to, the risk factors that are described under the section titled
“Risk Factors” in our Annual Report on Form 10-K for the fiscal
year ended March 31, 2023 as well as in our other filings with the
Securities and Exchange Commission, which are available on its
website at www.sec.gov. Given these uncertainties, you should not
place undue reliance on these forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Columbus McKinnon undertakes no duty to update publicly any such
forward-looking statement, whether as a result of new information,
future events or otherwise, except as may be required by applicable
law, regulation or other competent legal authority.
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version on businesswire.com: https://www.businesswire.com/news/home/20240318970869/en/
Gregory P. Rustowicz EVP Finance and CFO Columbus McKinnon
Corporation 716-689-5442 greg.rustowicz@cmco.com
Kristine Moser VP IR and Treasurer Columbus McKinnon Corporation
704-942-3253 kristy.moser@cmco.com
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