MEC Announces Appointment of Jag A. Reddy as President & CEO
20 Julho 2022 - 09:00AM
Business Wire
Current Independent Director Timothy L.
Christen Named Non-Executive Chair
Mayville Engineering Company (NYSE: MEC) (the “Company” or
“MEC”), a leading U.S.-based value-added manufacturing partner that
provides a full suite of design, prototyping, tooling, production
fabrication, coatings, assembly, and aftermarket services, today
announced the appointment of Jagadeesh (Jag) A. Reddy as President
and Chief Executive Officer (“CEO”) and as a director of the
Company, effective July 19, 2022.
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MEC CEO & President, Jag Reddy.
(Photo: Business Wire)
The Company also appointed Timothy L. Christen to the role of
non-executive Chair of the Board, effective July 19, 2022. Mr.
Christen (bio) has been a member of the MEC Board of Directors
since June 2016 and currently serves on the Audit and Nominating
and Corporate Governance Committees.
“We are thrilled to welcome Jag to the MEC team,” said Tim
Christen. “He is an accomplished senior executive, who brings 26
years of progressive leadership experience in leading global
businesses. Jag has a deep understanding of the market dynamics
that will be critical to driving the next phase of MEC’s growth.
His proven expertise in strategy development, engineering,
innovation, commercial and operating excellence make him ideally
suited to drive sustainable, long-term growth. This unique
combination of technology, operations, strategy, plus a proven
track record of delivering improvements through lean initiatives
make Jag an ideal candidate for this role. We look forward to
working closely with him and the rest of the executive team, as we
drive growth and long-term value creation.”
"I am honored to join MEC as President and CEO,” said Jag Reddy.
“With increased focus on re-shoring and outsourcing by major OEMs,
MEC has a critical role to play in helping our customers streamline
supply chains and reduce lead times. With our continued focus on
innovation and investments in manufacturing capabilities and lean
initiatives, MEC is ideally positioned to take advantage of the
growing market opportunities.
I look forward to working closely with our talented MEC team and
the Board to leverage the Company’s strengths and augment our
industry leading position. My initial focus will be on accelerating
our use of innovation and technology to help drive profitable
growth and margin expansion, while cultivating a culture of high
performance and accountability. I look forward to sharing our
updated strategy and plans for 2023 and beyond later this
year.”
Since 2018, Mr. Reddy was a member of the senior leadership team
at W.R. Grace, most recently serving as the head of its Strategy
and Growth function, as well as the Managing Director of its
Advanced Refining Technologies hydroprocessing joint venture with
Chevron. Before joining W.R. Grace, Mr. Reddy served as Vice
President and General Manager, Water Technologies Strategic
Business Unit, and Vice President, Corporate Strategy at Pentair
PLC. Previously, Mr. Reddy held leadership roles of increasing
responsibility at ITT Corporation and its spin-off, Xylem Inc. Mr.
Reddy also held product management and Mergers & Acquisitions
roles at Danaher Corporation and United Technologies. He started
his career in manufacturing operations at Denso Corporation.
Mr. Reddy earned an MBA in finance and strategy from the Kellogg
School of Management and a Master’s in engineering management from
the McCormick School of Engineering, both at Northwestern
University. He also holds a Master’s in industrial engineering from
the University of Tennessee and a Bachelor’s in mechanical
engineering from Sri Venkateswara University in India.
To facilitate a smooth leadership transition, retired Chairman,
President and CEO, Bob Kamphuis, will remain in a consultative
capacity through September 30, 2022.
Mr. Christen added, “On behalf of the board, I would like to
again thank and recognize Bob for his 17 years of dedicated service
as Chairman, President and CEO, during which time he oversaw
significant growth and our transition to a publicly traded company.
We wish him all the best in his retirement.”
About Mayville Engineering Company
Founded in 1945, MEC is a leading U.S.-based value-added
manufacturing partner that provides a full suite of design,
prototyping, tooling, production fabrication, coatings, assembly,
and aftermarket services. Our customers operate in diverse end
markets, including heavy- and medium-duty commercial vehicle,
construction & access equipment, powersports, agriculture,
military, and other end markets. Along with prototyping and
engineering services, MEC maintains an extensive manufacturing
infrastructure with 20 facilities, across seven states to serve
customers with short lead-times. For more information, please visit
mecinc.com
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Nathan Elwell 847-530-0249
nelwell@lincolnchurchilladvisors.com
Mayville Engineering (NYSE:MEC)
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