LSI Industries Inc. Announces the Appointment of Ron Newbold as President of the LSI Lighting Segment
October 17 2017 - 6:45AM
LSI Industries Inc. (NASDAQ:LYTS)
today announced the appointment of Ron Newbold as
President of the LSI Lighting Segment. Mr. Newbold most
recently served as Vice President of Brand Management at Hubbell
Lighting, and had been with Hubbell since 1997 with progressive
leadership positions spanning strategic planning, marketing, sales,
and engineering. He began his career in lighting at Lithonia
Lighting in 1990 serving in roles of increasing responsibility in
manufacturing, procurement, marketing, and product
management. Mr. Newbold received a Masters of Science in
Management from Indiana Wesleyan University, and a Bachelor of Arts
from Indiana University.
Mr. Newbold commented, “I am excited to join the
LSI team at this compelling time as the Company looks ahead to
optimizing its top-line and bottom-line growth. I have
followed LSI’s progress over the past few years as the Company has
successfully transformed its business through an impressive
turnaround period. LSI has a strong, respected brand and I am
also impressed with the Company’s progress in expanding its
marketing and sales capabilities. The Company has also
positioned itself on a strong competitive footing with its focus on
lean initiatives, and I am inspired by the continued commitment to
drive improvements and efficiencies through its LSI Business
System.”
Dennis W. Wells, Chief Executive Officer and
President, commented, “We are excited to have Ron join the LSI
executive management team. Ron has impressive strategic
insight into the lighting business as well as a proven ability to
drive top-line growth. He is experienced in managing all
aspects of a P&L, and has a solid background in leading sales,
marketing, engineering, product development and product management
teams. We are impressed by his strategic thinking, as well as
his breadth of knowledge in all aspects of the lighting
industry. Ron is known by many of our key sales agencies and
representatives and will be effective immediately in growing our
relationships with them. I am confident that Ron’s leadership
will meaningfully drive excellence as the Company continues to
advance through its optimization period with revitalized sales, a
pipeline of new products, leaner operations, and a solid financial
condition.”
"Safe Harbor" Statement under the
Private Securities Litigation Reform Act of 1995
This document contains certain forward-looking
statements that are subject to numerous assumptions, risks or
uncertainties. The Private Securities Litigation Reform
Act of 1995 provides a safe harbor for forward-looking
statements. Forward-looking statements may be identified
by words such as “estimates,” “anticipates,” “projects,” “plans,”
“expects,” “intends,” “believes,” “seeks,” “may,” “will,” “should”
or the negative versions of those words and similar expressions,
and by the context in which they are used. Such
statements, whether expressed or implied, are based upon current
expectations of the Company and speak only as of the date
made. Actual results could differ materially from those
contained in or implied by such forward-looking statements as a
result of a variety of risks and uncertainties over which the
Company may have no control. These risks and
uncertainties include, but are not limited to, the impact of
competitive products and services, product demand and market
acceptance risks, potential costs associated with litigation and
regulatory compliance, reliance on key customers, financial
difficulties experienced by customers, the cyclical and seasonal
nature of our business, the adequacy of reserves and allowances for
doubtful accounts, fluctuations in operating results or costs
whether as a result of uncertainties inherent in tax and accounting
matters or otherwise, failure of an acquisition or acquired company
to achieve its plans or objectives generally, unexpected
difficulties in integrating acquired businesses, the ability to
retain key employees, unfavorable economic and market conditions,
the results of asset impairment assessments, the ability to
maintain an effective system of internal control over financial
reporting, the ability to remediate any material weaknesses in
internal control over financial reporting and any other risk
factors that are identified herein. You are cautioned to
not place undue reliance on these forward-looking
statements. In addition to the factors described in this
paragraph, the risk factors identified in our Form 10-K and other
filings the Company may make with the SEC constitute risks and
uncertainties that may affect the financial performance of the
Company and are incorporated herein by reference. The
Company does not undertake and hereby disclaims any duty to update
any forward-looking statements to reflect subsequent events or
circumstances.
About the Company
We are a customer-centric company that positions
itself as a value-added, trusted partner in developing superior
image solutions through our world-class lighting, graphics, and
technology capabilities. Our core strategy of "Lighting +
Graphics + Technology = Complete Image Solutions" differentiates us
from our competitors.
We are committed to advancing solid-state LED
technology to make affordable, high performance, energy-efficient
lighting and custom graphic products that bring value to our
customers. We have a vast offering of innovative solutions
for virtually any lighting or graphics application. In
addition, we provide sophisticated lighting and energy management
control solutions to help customers manage their energy
performance. Further, we provide a full range of design
support, engineering, installation and project management services
to our customers.
We are a vertically integrated U.S.-based
manufacturer concentrating on serving customers in North America
and Latin America. Our major markets include commercial /
industrial lighting, petroleum / convenience store and multi-site
retail (including automobile dealerships, restaurants and national
retail accounts). Headquartered in Cincinnati, Ohio, LSI has
facilities in Ohio, California, Kentucky, New York, North Carolina
and Texas. The Company’s common shares are traded on the
NASDAQ Global Select Market under the symbol LYTS.
For further information,
contact Dennis Wells, Chief Executive Officer and
President at (513) 793-3200.
Additional note:
Today’s news release, along with past releases from LSI
Industries, is available on the Company’s internet site at
www.lsi-industries.com or by email or fax, by calling the Investor
Relations Department at (513) 793-3200.
CONTACT: DENNIS WELLS(513) 793-3200
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