Dick Giromini, Wabash National CEO, to step down in June
December 15 2017 - 8:30AM
Wabash National Corporation (NYSE:WNC), a diversified industrial
manufacturer and North America’s leading producer of semi-trailers
and liquid transportation systems, today announced that Richard J.
Giromini, Chief Executive Officer, notified the Company that he
will step down from his position as Chief Executive Officer on June
1, 2018. Brent Yeagy, currently President and Chief Operating
Officer, will become President and Chief Executive Officer,
effective June 2, 2018, as part of a planned succession. To
support Mr. Yeagy in his new role, Mr. Giromini will remain with
the Company, serving in the role of Executive Advisor through June
1, 2019, following which he will retire from Wabash National.
Dr. Martin Jischke, Chairman of the Board,
stated, “Dick Giromini’s leadership of Wabash National Corporation
has been quite extraordinary. On behalf of the Board of Directors,
I extend to Dick our gratitude and admiration for his many
contributions as Wabash National’s Chief Executive Officer. His
impact on Wabash National has been remarkable. The record-setting
business performance, the continued development of a talented team
of associates, and an unwavering commitment to integrity in all
that we do will make his time of company leadership an ongoing
source of pride for all who are associated with Wabash National.
The Board looks forward to working with our next CEO, Brent Yeagy.
Brent is a very talented, energetic, and experienced leader who we
are confident will continue Wabash National’s growth and
success.”
Mr. Giromini stated, “Working with the
outstanding associates of Wabash National these past 15-plus years,
including these past eleven years as CEO, has truly been a
privilege and honor, and I feel blessed to have been a part of such
a great organization. We have worked diligently from day one to
effect a complete transformation of our business from top to
bottom, with these efforts culminating in five consecutive years of
record performance. I extend heartfelt thanks to Dr. Jischke
and the rest of the board of directors for their unwavering support
throughout these many years as we worked closely together in
executing our strategy to convert our business into the
high-performance machine that we see today.”
Mr. Giromini continued, “With this
transformation now at a good stage, it’s the perfect time to step
down. I am extremely confident that Brent Yeagy is not only
well-prepared to take over the reins, but equipped to take our
company to greater and greater heights. I look forward to
working with Brent to assure a smooth transition of leadership over
these next several months and in providing him ongoing support in
the year to follow.”
About Wabash National Corporation
Headquartered in Lafayette, Indiana, Wabash
National Corporation (NYSE:WNC) is a diversified industrial
manufacturer and North America’s leading producer of semi-trailers
and liquid transportation systems. Established in 1985, the
Company manufactures a diverse range of products including: dry
freight and refrigerated trailers, platform trailers, bulk tank
trailers, dry and refrigerated truck bodies, truck-mounted tanks,
intermodal equipment, aircraft refueling equipment, structural
composite panels and products, trailer aerodynamic solutions, and
specialty food grade and pharmaceutical equipment. Its
innovative products are sold under the following brand names:
Wabash National®, Beall®, Benson®, Brenner® Tank, Bulk Tank
International, DuraPlate®, Extract Technology®, Garsite, Progress
Tank, Supreme®, Transcraft®, Walker Engineered Products, and Walker
Transport. Learn more at www.wabashnational.com.
Safe Harbor Statement
This press release contains certain
forward-looking statements as defined by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements convey
the Company’s current expectations or forecasts of future events.
All statements contained in this press release other than
statements of historical fact are forward-looking statements. These
forward-looking statements include, among other things, all
statements regarding the Company’s outlook for trailer shipments,
backlog, expectations regarding demand levels for trailers,
non-trailer equipment and our other diversified product offerings,
pricing, profitability and earnings, cash flow and liquidity,
opportunity to capture higher margin sales, new product
innovations, our growth and diversification strategies and our
expectations with regards to capital allocation. These and
the Company’s other forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those implied by the forward-looking
statements. Without limitation, these risks and uncertainties
include uncertain economic conditions including the possibility
that customer demand may not meet our expectations, increased
competition, reliance on certain customers and corporate
partnerships, risks of customer pick-up delays, shortages and costs
of raw materials, risks in implementing and sustaining improvements
in the Company’s manufacturing operations and cost containment,
dependence on industry trends and timing and costs of
indebtedness. Readers should review and consider the various
disclosures made by the Company in this press release and in the
Company’s reports to its stockholders and periodic reports on Forms
10-K and 10-Q.
Media Contact:Dana StelselCorporate
Communications Manager(765)
771-5766dana.stelsel@wabashnational.com
Investor Relations: Jeff TaylorSenior Vice
President and Chief Financial Officer (765) 771-5438
jeff.taylor@wabashnational.com
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