Broadwind Energy Appoints Persio Lisboa and Cary Wood to Board
May 19 2016 - 7:00AM
Broadwind Energy, Inc. (NASDAQ:BWEN) today announced that Persio V.
Lisboa, 50, and Cary B. Wood, 49, have been appointed to the
Company’s Board of Directors, effective May 18.
“Persio and Cary bring a wealth of industrial operations and
business expertise to our Board, and we are pleased to announce the
addition of these two outstanding leaders,” said Dave Reiland,
Broadwind Chairman.
Persio Lisboa is President, Operations of Navistar, Inc.
(NYSE:NAV), a leading manufacturer of commercial trucks, buses,
defense vehicles and engines, a role he has held since November
2014. In this role, Lisboa has been responsible for global
manufacturing, research and development, procurement and supply
chain operations for Navistar. In his role, Lisboa has restructured
the manufacturing footprint and processes to improve productivity
and margins, boosted product quality and restructured the product
development program with a focus on new product launches. He joined
Navistar in 1986, and has held various management positions of
increasing operations and supply chain responsibility within
Navistar’s North American and South American operations. Mr. Lisboa
began his career with Maxion International Motores Brasil, after
receiving a Bachelor of Science degree in Business Administration
with a Marketing specialization from Pontificia Universidade
Catolica (PUC) de Sao Paulo.
Cary Wood served as President and Chief Executive Officer of
Sparton Corporation (NYSE:SPA) from 2008 to 2016. Sparton is a
provider of complex electronics for a broad range of medical,
avionics, industrial and defense product sectors. During Wood’s
tenure, Sparton’s revenue nearly doubled through a combination of
organic growth and a series of acquisitions. Over that time, the
company expanded its profitability consistently. Wood deployed
corporate-wide lean enterprise and quality strategy programs to
drive continuous improvement and operational efficiency, improving
shareholder returns. Prior to Sparton, Mr. Wood held various roles
of increasing responsibility, including interim Chief Executive
Officer and Chief Operating Officer, for Citation Corporation (now
known as Grede Holdings, LLC). Mr. Wood began his career with
General Motors Corporation, followed by a move to United
Technologies Corporation. Mr. Wood received a Bachelor of Science
degree in Technology from Purdue University, a Master of Science
degree in Industrial Operations from Lawrence Tech University, and
a Master of Business Administration degree in Finance from Loyola
University-Chicago. Mr. Wood recently joined the Board of Directors
of Vishay Precision Group, Inc. (NYSE:VPG), a designer,
manufacturer and marketer of resistive foil technology, sensors,
and sensor-based systems to niche, industrial applications.
Broadwind Interim CEO Stephanie Kushner stated, “Persio’s
extensive operational, supply chain and logistics experience will
be an invaluable asset to Broadwind. Cary’s broad experience in
executive management, operations, corporate turn-arounds, and
corporate growth strategies will strengthen our ability to execute
on our business strategies. I am delighted they are joining
Broadwind.”
About Broadwind Energy, Inc.Broadwind Energy
(NASDAQ:BWEN) applies decades of deep industrial expertise to
innovate integrated solutions for customers in the energy and
infrastructure markets. From gears and gearing systems for wind,
oil and gas and mining applications, to wind towers and industrial
weldments, we have solutions for the energy needs of the future.
With facilities throughout the central U.S., Broadwind Energy's
talented team is committed to helping customers maximize
performance of their investments—quicker, easier and smarter. Find
out more at www.bwen.com
Forward-Looking StatementsThis release contains
“forward‑looking statements”, as defined in Section 21E of the
Securities Exchange Act of 1934, as amended. Forward‑looking
statements include any statement that does not directly relate to a
current or historical fact. Our forward-looking statements may
include or relate to our beliefs, expectations, plans and/or
assumptions with respect to the following: (i) state, local and
federal regulatory frameworks affecting the industries in which we
compete, including the wind energy industry, and the related
extension, continuation or renewal of federal tax incentives and
grants and state renewable portfolio standards; (ii) our customer
relationships and efforts to diversify our customer base and sector
focus and leverage customer relationships across business units;
(iii) our ability to continue to grow our business organically;
(iv) the sufficiency of our liquidity and alternate sources of
funding, if necessary; (v) our restructuring efforts, including
estimated costs and saving opportunities; (vi) our ability to
realize revenue from customer orders and backlog; (vii) our ability
to operate our business efficiently, manage capital expenditures
and costs effectively, and generate cash flow; (viii) the economy
and the potential impact it may have on our business, including our
customers; (ix) the state of the wind energy market and other
energy and industrial markets generally and the impact of
competition and economic volatility in those markets; (x) the
effects of market disruptions and regular market volatility,
including fluctuations in the price of oil, gas and other
commodities; and (xi) the potential loss of tax benefits if we
experience an “ownership change” under Section 382 of the Internal
Revenue Code of 1986, as amended. These statements are based on
information currently available to us and are subject to various
risks, uncertainties and other factors. We are under no duty to
update any of these statements. You should not consider any list of
such factors to be an exhaustive statement of all of the risks,
uncertainties or other factors that could cause our current
beliefs, expectations, plans and/or assumptions to change.
BWEN INVESTOR CONTACT: Joni Konstantelos, 708.780.4819 joni.konstantelos@bwen.com
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