ELKHART, Ind., June 3, 2019 /PRNewswire/ -- Today, THOR
Industries, Inc. (NYSE: THO), the world's largest recreational
vehicle (RV) manufacturer, announced the creation of new
senior management positions within its North American
operations. The moves are an essential step of Thor's
overarching strategy focused on strengthening dealer partner
support, refining product innovation and quality, and improving
operating margins throughout the family of Thor brands.
President and Chief Executive Officer, Bob Martin, announced today that two of Thor's
most experienced company leaders, Matt
Zimmerman of Keystone RV Company and Chris Hermon of Heartland RV Company will assume
the roles of RV Group Managers. Each will oversee multiple
Thor subsidiaries. The change will provide incremental
support to subsidiary leadership, improving focus and helping
achieve key goals on an accelerated basis.
"Matt and Chris are two of our top leaders. Their
experience and leadership make them ideally suited for these newly
created roles," Martin explained. "In their new positions,
Matt and Chris will focus on assisting our US-based operating
companies in their realization of key strategic initiatives, all of
which are designed to improve our offerings to our dealers and
retail customers, increase engagement with our employees and
improve our operating margins."
Effective today, the RV Group Managers are responsible for
overseeing the following Thor subsidiaries:
- Matt Zimmerman: Airstream,
Keystone RV Group (inclusive of Keystone RV, Dutchmen RV and Cross
Roads RV) and Thor Motor Coach
- Chris Hermon: Jayco Inc. (inclusive of Jayco, Entegra
Coach, Starcraft RV and Highland Ridge RV), Heartland RV (inclusive
of Heartland, Cruiser RV, DRV and Bison Coach) and K-Z
RV
"As we've grown, it's essential that we continue to evolve as a
Company. This step is a strong statement of our focus on our
quest to continually improve what we are doing and how we are doing
it. The move will enable Thor to better serve our employees,
customers, end consumers, and shareholders," stated Martin.
"We look forward to the leadership Matt and Chris will
provide to our North American operations."
With the transition of Zimmerman and Hermon, several subsidiary
leadership changes will occur. The following moves are
effective June
3rd:
- Jeff Runels, current President
of Keystone RV, has been promoted to President & CEO of the
Keystone RV Company
- Ryan Juday, current President of
CrossRoads RV, has been promoted to President & CEO of
Heartland RV Company
- Darin Elswick, current General
Manager at CrossRoads RV, has been promoted to President of
CrossRoads RV
"Over the years, extraordinary product evolution and a
continuous focus on improvement have been paramount to our
success," stated Peter B. Orthwein,
Executive Chairman of the Board. "The incredible depth of talent we
continue to foster and elevate is a testament to our commitment to
the future."
ABOUT THOR INDUSTRIES
Thor is the sole owner of
operating subsidiaries that, combined, represent the world's
largest manufacturer of RVs. For more information, please visit:
https://www.thorindustries.com/.
Forward Looking Statements
This release includes certain statements that are "forward
looking" statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward looking
statements are made based on management's current expectations and
beliefs regarding future and anticipated developments and their
effects upon Thor, and inherently involve uncertainties and risks.
These forward looking statements are not a guarantee of future
performance. We cannot assure you that actual results will not
differ materially from our expectations. Factors which could cause
materially different results include, among others, raw material
and commodity price fluctuations; raw material, commodity or
chassis supply restrictions; the impact of tariffs on material or
other input costs; the level and magnitude of warranty claims
incurred; legislative, regulatory and tax law and/or policy
developments including their potential impact on our dealers and
their retail customers or on our suppliers; the costs of compliance
with governmental regulation; legal and compliance issues including
those that may arise in conjunction with recently completed or
announced transactions; lower consumer confidence and the level of
discretionary consumer spending; interest rate fluctuations; the
potential impact of interest rate fluctuations on the general
economy and specifically on our dealers and consumers; restrictive
lending practices; management changes; the success of new and
existing products and services; consumer preferences; the ability
to efficiently utilize production facilities; the pace of
acquisitions and the successful closing, integration and financial
impact thereof; the potential loss of existing customers of
acquisitions; our ability to retain key management personnel of
acquired companies; a shortage of necessary personnel for
production; the loss or reduction of sales to key dealers;
disruption of the delivery of units to dealers; increasing costs
for freight and transportation; asset impairment charges; cost
structure changes; competition; the impact of potential losses
under repurchase or financed receivable agreements; the potential
impact of the strength of the U.S. dollar on international demand
for products priced in U.S. dollars; general economic, market and
political conditions; the impact of changing emissions standards in
the various jurisdictions in which our products are sold; and
changes to investment and capital allocation strategies or other
facets of our strategic plan. Additional risks and uncertainties
surrounding the acquisition of Erwin Hymer Group SE ("EHG") include
risks regarding the potential benefits of the acquisition and the
anticipated operating synergies, the integration of the business,
the impact of exchange rate fluctuations and unknown or understated
liabilities related to the acquisition and EHG's business. These
and other risks and uncertainties are discussed more fully in Item
1A of our Annual Report on Form 10-K for the year ended
July 31, 2018 and Part II, Item 1A of
our quarterly reports on Form 10-Q for the periods ended
January 31, 2019 and April 30, 2019.
We disclaim any obligation or undertaking to disseminate any
updates or revisions to any forward looking statements contained in
this release or to reflect any change in our expectations after the
date hereof or any change in events, conditions or circumstances on
which any statement is based, except as required by law.
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SOURCE THOR Industries, Inc.