Spartan Motors Adds Depth, Names New Chairman of Board of Directors
February 18 2010 - 8:10AM
PR Newswire (US)
CHARLOTTE, Mich., Feb. 18 /PRNewswire-FirstCall/ -- Spartan Motors,
Inc. (NASDAQ:SPAR), the leading manufacturer of specialty chassis
and vehicles, today announced a planned leadership transition and
new appointment to the Board of Directors aimed at continuing to
strengthen the Company's governance and board depth. The moves
include the planned retirement of David Wilson from his position as
Chairman of the Board effective at the 2010 annual meeting. Wilson
has been a member of the board since 1996 and has served as
Chairman since 2002. "David presided over the board during
Spartan's most rapid period of growth, and under his guidance we
have been able to maintain positive earnings, increase sales and
position ourselves for future growth," said John Sztykiel,
president and CEO of Spartan Motors. "We are grateful for his
vision and leadership, and thank him for his lasting
contributions." Spartan Motors said the Board has elected Hugh
Sloan to become Chairman at the 2010 annual meeting. Sloan has been
an independent member of Spartan's board since 2007, serving on the
Audit and Compensation committees. He has over 35 years of
experience in the automotive industry, most notably with the
Woodbridge Foam Corporation, a $1 billion global supplier of
polyurethane foam, where he served as President, Automotive, and
Deputy Chairman of the Board, and Budd Canada, Inc., where he
served as a director, President and General Manager. Sloan serves
on the boards of directors of Woodbridge Foam Corporation, Manulife
Financial, and Wescast Industries, Inc., where he is lead director.
He is also a former Staff Assistant to President Richard Nixon,
former Trustee of Princeton University and served as Chairman of
the Automotive Parts Manufacturers Association of Canada (APMA) and
as a founding director of the Original Equipment Suppliers
Association (OESA) in the United States. "The legacy David built
during his tenure will shape the direction of Spartan for years to
come," said incoming Chairman Sloan. "I am honored to have the
opportunity to build on his work as we enter new markets with the
integration of our acquisition of Utilimaster, and continue
pursuing new avenues of growth." Spartan also announced the
appointment of Richard F. (Rick) Dauch, President and CEO of
Acument Global Technologies, Inc., to the Company's board of
directors. Dauch will serve as an independent director. In his
current role with Acument, the world's largest fastener supplier,
Dauch has been responsible for developing and implementing a global
turnaround and growth plan for the company's 30 manufacturing and
17 distribution facilities spanning 17 countries. Prior to joining
Acument in 2008, Dauch served as Executive Vice President of
Worldwide Manufacturing at American Axle and Manufacturing, where
he was responsible for the daily operations of 17 locations
globally. "In a career spanning over 25 years, Rick brings
significant and proven leadership experience in global
manufacturing and operations," said Sloan. "His well-rounded
background in areas ranging from strategic planning and finance to
sales and marketing will be an asset to Spartan as we look to
expand to new market niches, both in the U.S. and abroad." Dauch
earned dual Master of Science degrees in Management and Engineering
from the Massachusetts Institute of Technology and a Bachelor of
Science degree in Engineering from the United States Military
Academy. Dauch's corporate career was preceded by his service as an
officer in the United States Army, including qualification as an
Airborne Ranger and concluding with his assignment as a Light
Infantry Company Commander in the 10th Mountain Division. About
Spartan Motors Spartan Motors, Inc. (http://www.spartanmotors.com/)
designs, engineers and manufactures specialty chassis, specialty
vehicles and truck bodies and aftermarket parts for the RV,
emergency-rescue, defense, delivery and service markets. The
company's brand names - Spartan(TM), Crimson Fire(TM), Crimson Fire
Aerials(TM), Road Rescue(TM) and Utilimaster® - are known for
quality, value, service and being the first to market with
innovative products. The company employs approximately 1,600 at
facilities in Michigan, Pennsylvania, South Carolina, South Dakota,
Indiana and Texas. Spartan reported sales of $430 million in 2009
and is focused on becoming a global leader in the manufacture of
specialty vehicles and chassis. This release contains
forward-looking statements, including, without limitation,
statements concerning our business, future plans and objectives and
the performance of our products. These forward-looking statements
involve certain risks and uncertainties that ultimately may not
prove to be accurate. Actual results and future events could differ
materially from those anticipated in such statements. Technical
complications may arise that could prevent the prompt
implementation of the plans outlined above. The company cautions
that these forward-looking statements are further qualified by
other factors including, but not limited to, those set forth in the
company's Annual Report on Form 10-K filing and other filings with
the United States Securities and Exchange Commission (available at
http://www.sec.gov/.). Government contracts and subcontracts
typically involve long payment and purchase cycles, competitive
bidding, qualification requirements, delays or changes in funding,
extensive specification development and changes, price negotiations
and milestone requirements. An announced award of a governmental
contract is not equivalent to a finalized executed contract and
does not assure that orders will be issued and filled. Government
agencies also often retain some portion of fees payable upon
completion of a project and collection of contract fees may be
delayed for long periods, which can negatively impact both prime
contractors and subcontractors. The company undertakes no
obligation to publicly update or revise any statements in this
release, whether as a result of new information, future events or
otherwise, except as required by law. DATASOURCE: Spartan Motors,
Inc. CONTACT: John Sztykiel, CEO, or Joseph Nowicki, CFO, Spartan
Motors, Inc., +1-517-543-6400; or Jeff Lambert or Jeff Tryka, CFA,
Lambert, Edwards & Associates, +1-616-233-0500, Web Site:
http://www.spartanmotors.com/
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