Oshkosh Corporation Announces CFO Transition
January 10 2020 - 8:40AM
Business Wire
Oshkosh Corporation (NYSE:OSK), a leading innovator of
mission-critical vehicles and equipment, today announced that David
M. Sagehorn, who has served the Company for two decades, including
12 years as Chief Financial Officer, has decided to retire
effective April 3, 2020. Mr. Sagehorn will serve as an external
advisor for a year after his retirement date to ensure a smooth
transition. Michael E. Pack, Vice President of Finance in the Fire
& Emergency segment at Oshkosh, will succeed Mr. Sagehorn as
Executive Vice President and Chief Financial Officer.
Mr. Pack has served as Vice President of Finance in Oshkosh’s
Fire & Emergency segment since 2012. In this capacity, he
helped lead a turnaround of this key business segment to deliver
record operating margin growth. Mr. Pack has been with the Company
since 2006 and has held finance roles of increasing responsibility
with the Fire & Emergency, Access Equipment, Commercial and
Corporate teams. Prior to joining Oshkosh, he was a Senior Audit
Manager at Grant Thornton. He has a bachelor’s degree in business
administration from the University of Wisconsin-Madison and is a
certified public accountant.
“On behalf of our Board, leadership team and everyone at
Oshkosh, I would like to thank Dave for his hard work, selfless
service and dedication during his 20-year career with the Company,
throughout which he has served with the utmost integrity,” said
Wilson R. Jones, President and Chief Executive Officer at Oshkosh
Corporation. “During his tenure, Dave has helped Oshkosh
successfully navigate some of the most pivotal moments in our
history, including managing through the global financial crisis,
playing a key role in developing our successful MOVE strategy, and
implementing value creation strategies that have helped drive
record sales, earnings growth and a strong balance sheet. We wish
him all the best as he transitions into retirement.”
“It has been a privilege to work alongside the most dedicated
and talented people in the business, and I am proud of all that we
have achieved over the past two decades,” said Sagehorn. “With the
Company’s strong financial position and exceptional team, I have
decided that now is the right time to retire to spend more time
with my family. I will continue to support Wilson, Mike and the
entire Oshkosh organization, and I look forward to working together
over the coming months to achieve a seamless transition.”
“We are pleased to announce Mike as our next Executive Vice
President and Chief Financial Officer,” Jones continued. “His
appointment is a reflection of our succession planning process and
the leadership and talent across our Company. He is a proven and
trusted leader with excellent business and financial acumen who has
made significant contributions to the strength and vitality of
Oshkosh. The Board and I are confident that Mike is the right
addition to our leadership team as we continue to strengthen our
People First culture and execute our MOVE strategy to deliver
sustainable long-term growth and value for shareholders.”
“I am honored to be stepping into the role of Chief Financial
Officer at a time of strength and momentum for Oshkosh,” said Pack.
“I believe deeply in our purpose, strategy and team and am
energized for 2020 and beyond.”
About Oshkosh Corporation
At Oshkosh (NYSE: OSK), we make innovative, mission-critical
equipment to help everyday heroes advance communities around the
world. Headquartered in Wisconsin, Oshkosh Corporation employs more
than 15,000 team members worldwide, all united behind a common
cause: to make a difference in people’s lives. Oshkosh products can
be found in more than 150 countries under the brands of JLG®,
Pierce®, Oshkosh® Defense, McNeilus®, IMT®, Frontline™, Jerr-Dan®,
Oshkosh® Airport Products, CON-E-CO® and London™. For more
information, visit oshkoshcorp.com.
®, ™ All brand names referred to in this news release are
trademarks of Oshkosh Corporation or its subsidiary companies.
Forward Looking Statements
This news release contains statements that the Company believes
to be “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical fact, including, without
limitation, statements regarding the Company’s future financial
position, business strategy, targets, projected sales, costs,
earnings, capital expenditures, debt levels and cash flows, and
plans and objectives of management for future operations, are
forward-looking statements. When used in this news release, words
such as “may,” “will,” “expect,” “intend,” “estimate,”
“anticipate,” “believe,” “should,” “project” or “plan” or the
negative thereof or variations thereon or similar terminology are
generally intended to identify forward-looking statements. These
forward-looking statements are not guarantees of future performance
and are subject to risks, uncertainties, assumptions and other
factors, some of which are beyond the Company’s control, which
could cause actual results to differ materially from those
expressed or implied by such forward-looking statements.
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