SEGUIN,
Texas, Feb. 22, 2024 /PRNewswire/ -- Alamo Group
Inc. (NYSE: ALG) today announced that Roderick ("Rock") R. Baty
will retire from the Board of Directors effective April 30, 2024. Mr. Baty joined the Board in
August 2011 and has served in various
capacities during his tenure. Mr. Baty was appointed
Independent Board Chair on May 3,
2018. Upon Mr. Baty's retirement from the Board,
current Board member, Richard ("Rick") W. Parod, will be appointed
the new Independent Board Chair effective April 30, 2024.
The Company also today announced that it has appointed
Paul D. Householder as a new
independent member of the Board effective February 22, 2024. Mr. Householder is the
President and Chief Executive Officer of Ag Growth International
Inc. (Toronto: AGN). Mr. Householder joined Ag Growth
International Inc. in 2019 as Executive Vice President,
International. In 2022, he was appointed President and Chief
Executive Officer and elected to the Board of Directors. Ag Growth
International Inc. is a manufacturer of portable and stationary
grain handling, storage and conditioning equipment, including
augers, belt conveyors, storage bins, handling accessories and
aeration equipment. Prior to joining Ag Growth International Inc.,
Mr. Householder spent 28 years at Air Products & Chemicals,
Inc. (NYSE: APD), holding several global leadership roles
focusing on continuous improvement, business development, sales,
and engineering.
Alamo Chief Executive Officer
and President, Jeffery A. Leonard,
commented on the above changes as follows, "We will certainly miss
Rock and want to thank him for his leadership and guidance in his
role as Chair and for his devotion to the Company during his long
tenure on the Board. He has been extremely instrumental in helping
us get to where we are today. We are excited for Rick to step in as
the new Independent Board Chair. We look forward to his capable
leadership and guidance of the Board in the future. Finally, we are
very pleased to have Paul join the Board and look forward to
working with him. Paul brings decades of valuable international
experience to the Board."
About Alamo Group
Alamo Group is a leader in the design, manufacture, distribution
and service of high quality equipment for vegetation management,
infrastructure maintenance and other applications. Our products
include truck and tractor mounted mowing and other vegetation
maintenance equipment, street sweepers, snow removal equipment,
excavators, vacuum trucks, other industrial equipment, agricultural
implements, forestry equipment and related after-market parts and
services. The Company, founded in 1969, has approximately 4,350
employees and operates 29 plants in North
America, Europe,
Australia and Brazil as of December
31, 2023. The corporate offices of Alamo Group Inc. are
located in Seguin, Texas.
Forward Looking Statements
This release contains forward-looking statements that are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve known and unknown risks and uncertainties, which
may cause the Company's actual results in future periods to differ
materially from forecasted results. Among those factors which could
cause actual results to differ materially are the following:
adverse economic conditions which could lead to a reduction in
overall market demand, supply chain disruptions, labor constraints,
unanticipated acquisition results, increasing costs due to
inflation, new or unanticipated effects of the COVID-19 pandemic,
geopolitical risks, including effects of the war in Ukraine, competition, weather, seasonality,
currency-related issues, and other risk factors listed from time to
time in the Company's SEC reports. The Company does not undertake
any obligation to update the information contained herein, which
speaks only as of this date.
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SOURCE Alamo Group Inc.