LCI Industries (NYSE: LCII), which, through its wholly-owned
subsidiary, Lippert Components, Inc. ("Lippert"), supplies a broad
array of highly engineered components for the leading original
equipment manufacturers ("OEMs") in the recreation and
transportation product markets, and the related aftermarkets of
those industries, today announced the appointment of Lillian D.
Etzkorn as Executive Vice President and Chief Financial Officer
effective April 17, 2023. As previously announced, Brian Hall, LCI
Industries’ current Executive Vice President and Chief Financial
Officer, will retire to pursue philanthropic ventures and
opportunities as well as spend more time with his family. Mr. Hall
will stay on in an advisory role to ensure a smooth transition.
“Lillian has had an esteemed career, solidifying her financial
acumen and industrial and manufacturing expertise. In her past
roles, she has demonstrated her ability to create positive change
and produce results, efficiently aligning internal teams to enhance
profitability and cash generation. Lillian’s numerous
accomplishments give us great confidence in her ability to extend
our financial and operational leadership,” commented Tracy D.
Graham, Chairman of Lippert’s Board of Directors. “Throughout our
extensive search for Brian’s successor, Lillian time and again
exhibited the qualities we believe are critical to delivering on
the Company’s next chapter of growth.”
Prior to joining Lippert, Ms. Etzkorn was the Chief Financial
Officer at Covia. While at Covia, she implemented best practices
while advancing its financial organization. Prior to that, she had
served in multiple financial leadership roles, including Chief
Financial Officer of Shiloh Industries and CPI CARD GROUP. In
addition, she has held various senior positions at publicly traded
automotive companies such as Dana Holding Corporation and Ford
Motor Company. Ms. Etzkorn began her career in finance at Ford and
holds a Bachelor of Arts degree from Eastern Michigan University
and a Master of Business Administration degree from the University
of Michigan.
“As an accomplished business leader, I want to welcome Lillian
to the Lippert family. I have no doubt she will play an important
role in extending our leadership position in the industry,
executing our long-term strategic plan and further elevating our
finance organization at the Company,” said Jason Lippert, LCI
Industries’ President and Chief Executive Officer. “I want to once
again thank Brian for his tireless efforts to support Lippert over
the last 10 years. He has been integral in building a strong
foundation for the Company, which will support long-term growth for
Lippert.”
About LCI Industries
LCI Industries, through its wholly-owned subsidiary, Lippert,
supplies, domestically and internationally, a broad array of highly
engineered components for the leading OEMs in the recreation and
transportation product markets, consisting primarily of
recreational vehicles and adjacent industries, including buses;
trailers used to haul boats, livestock, equipment, and other cargo;
trucks; boats; trains; manufactured homes; and modular housing. The
Company also supplies engineered components to the related
aftermarkets of these industries, primarily by selling to retail
dealers, wholesale distributors, and service centers, as well as
direct to retail customers via the Internet. Lippert's products
include steel chassis and related components; axles and suspension
solutions; slide-out mechanisms and solutions; thermoformed bath,
kitchen, and other products; vinyl, aluminum, and frameless
windows; manual, electric, and hydraulic stabilizer and leveling
systems; entry, luggage, patio, and ramp doors; furniture and
mattresses; electric and manual entry steps; awnings and awning
accessories; towing products; truck accessories; electronic
components; appliances; air conditioners; televisions and sound
systems; tankless water heaters; and other accessories. Additional
information about Lippert and its products can be found at
www.lippert.com.
Forward-Looking Statements
This press release contains certain "forward-looking statements"
with respect to our financial condition, results of operations,
business strategies, operating efficiencies or synergies,
competitive position, growth opportunities, acquisitions, plans and
objectives of management, markets for the Company's common stock,
the impact of legal proceedings, and other matters. Statements in
this press release that are not historical facts are
"forward-looking statements" for the purpose of the safe harbor
provided by Section 21E of the Securities Exchange Act of 1934, as
amended, and Section 27A of the Securities Act of 1933, as amended,
and involve a number of risks and uncertainties.
Forward-looking statements, including, without limitation, those
relating to our future business prospects, net sales, expenses and
income (loss), capital expenditures, tax rate, cash flow, financial
condition, liquidity, covenant compliance, retail and wholesale
demand, integration of acquisitions, R&D investments, and
industry trends, whenever they occur in this press release are
necessarily estimates reflecting the best judgment of the Company's
senior management at the time such statements were made. There are
a number of factors, many of which are beyond the Company's
control, which could cause actual results and events to differ
materially from those described in the forward-looking statements.
These factors include, in addition to other matters described in
this press release, the impacts of COVID-19, or other future
pandemics, the Russia-Ukraine war, and heightened tensions between
China and Taiwan on the global economy and on the Company's
customers, suppliers, employees, business and cash flows, pricing
pressures due to domestic and foreign competition, costs and
availability of, and tariffs on, raw materials (particularly steel
and aluminum) and other components, seasonality and cyclicality in
the industries to which we sell our products, availability of
credit for financing the retail and wholesale purchase of products
for which we sell our components, inventory levels of retail
dealers and manufacturers, availability of transportation for
products for which we sell our components, the financial condition
of our customers, the financial condition of retail dealers of
products for which we sell our components, retention and
concentration of significant customers, the costs, pace of and
successful integration of acquisitions and other growth
initiatives, availability and costs of production facilities and
labor, team member benefits, team member retention, realization and
impact of expansion plans, efficiency improvements and cost
reductions, the disruption of business resulting from natural
disasters or other unforeseen events, the successful entry into new
markets, the costs of compliance with environmental laws, laws of
foreign jurisdictions in which we operate, other operational and
financial risks related to conducting business internationally, and
increased governmental regulation and oversight, information
technology performance and security, the ability to protect
intellectual property, warranty and product liability claims or
product recalls, interest rates, oil and gasoline prices, and
availability, the impact of international, national and regional
economic conditions and consumer confidence on the retail sale of
products for which we sell our components, and other risks and
uncertainties discussed more fully under the caption "Risk Factors"
in the Company's Annual Report on Form 10-K for the year ended
December 31, 2022, and in the Company's subsequent filings with the
Securities and Exchange Commission. Readers of this press release
are cautioned not to place undue reliance on these forward-looking
statements, since there can be no assurance that these
forward-looking statements will prove to be accurate. The Company
disclaims any obligation or undertaking to update forward-looking
statements to reflect circumstances or events that occur after the
date the forward-looking statements are made, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230405005715/en/
Brian M. Hall, CFO (574) 535-1125 LCII@lci1.com
LCI Industries (NYSE:LCII)
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