Astec Industries Appoints Mary L. Howell to Board of Directors
March 01 2019 - 7:15AM
Astec Industries, Inc. (Nasdaq: ASTE) today announced that Mary L.
Howell, Founder and Chief Executive Officer of Howell Strategy
Group, has been appointed to the Board of Directors, effective
immediately. Ms. Howell will join the class of directors standing
for election at the 2019 Annual Meeting of Shareholders and will
serve as a member of the Audit Committee. With Ms. Howell’s
appointment, Astec’s Board has been expanded and is now composed of
ten highly qualified and experienced directors, all of whom are
independent.
Ms. Howell currently serves as Chief Executive
Officer of Howell Strategy Group, an international consulting firm.
Previously, she served for 24 years as an officer of Textron Inc.,
a multi-industry company that leverages its global network of
aircraft, defense, industrial and finance businesses, serving on
the Textron Executive Management Committee for over 15 years.
William Gehl, Chairman of Astec’s Board of
Directors, said, “We are pleased to welcome a leader of Mary’s
caliber to the Board. Her successful career at Textron, along with
her experience serving on public company boards, makes Mary a very
strong addition to our boardroom. Mary’s appointment also
underscores our commitment to ongoing refreshment and enhancing of
our Board. We look forward to benefiting from Mary’s deep knowledge
and expertise as we continue to execute on our strategic priorities
to drive shareholder value.”
Ms. Howell said, “I have long admired Astec’s
leading position in global construction equipment manufacturing and
am honored to join the Board. I look forward to working with my
fellow directors to help guide the Company forward and deliver
value to our shareholders.”
About Mary L. Howell
Mary L. Howell has served as Chief Executive
Officer of Howell Strategy Group, an international consulting firm,
since the firm’s founding in January of 2010. Previously, Ms.
Howell served as Executive Vice President of Textron Inc. from 1995
to 2009. She was an officer of that company for 24 years, serving
on the Textron Management Committee, which was composed of
Textron’s top five executives responsible for the management of the
company, for over 15 years. Ms. Howell currently serves as Lead
Director of the Board of Directors of Esterline Corporation, an
aerospace and defense company. In addition, she serves on the Board
of Vectrus, an industry-leading facilities management, logistics
and network communications services company, and is a member of the
Audit and Compensation Committees and Chairs the Strategy
Committee. In 2008, Ms. Howell received the Charles Ruch Semper
Fidelis Award and in 2010 became an Honorary Marine for her
long-standing commitment to the U.S. Marine Corps and her
leadership in various programs that have supported the Marine Corps
mission. She graduated from the University of Massachusetts at
Amherst with a Bachelor of Science Degree.
About Astec Industries
Astec Industries, Inc.,
(www.astecindustries.com), is a manufacturer of specialized
equipment for asphalt road building; aggregate processing; oil, gas
and water well drilling and concrete production. Astec's
manufacturing operations are divided into three primary business
segments: road building and related equipment (Infrastructure
Group); aggregate processing and mining equipment (Aggregate and
Mining Group); and equipment for the extraction and production of
fuels, and water drilling equipment (Energy Group).
The information contained in this press release
contains “forward-looking statements” (within the meaning of the
Private Securities Litigation Reform Act of 1995) regarding the
future performance of the Company. These forward-looking statements
reflect management’s expectations and are based upon currently
available information, and the Company undertakes no obligation to
update or revise such statements. These statements are not
guarantees of performance and are inherently subject to risks and
uncertainties, many of which cannot be predicted or anticipated.
Future events and actual results, financial or otherwise, could
differ materially from those expressed in or implied by the
forward-looking statements. Important factors that could cause
future events or actual results to differ materially include:
general uncertainty in the economy, oil, gas and liquid asphalt
prices, rising steel prices, decreased funding for highway
projects, the relative strength/weakness of the dollar to foreign
currencies, production capacity, general business conditions in the
industry, demand for the Company’s products, seasonality and
cyclicality in operating results, seasonality of sales volumes or
lower than expected sales volumes, lower than expected margins on
custom equipment orders, competitive activity, tax rates and the
impact of future legislation thereon, and those other factors
listed from time to time in the Company’s reports filed with the
Securities and Exchange Commission, including but not limited to
the Company’s annual report on Form 10-K for the year ended
December 31, 2017.
For Additional Information Contact:
David C. Silvious Vice President and Chief Financial
Officer Phone: (423) 899-5898 Fax: (423) 899-4456
E-mail: dsilvious@astecindustries.com
Or
Stephen C. Anderson Vice President, Director of Investor
Relations & Corporate Secretary Phone: (423)
899-5898 Fax: (423) 899-4456
E-mail: sanderson@astecindustries.com
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