INDIANAPOLIS, Sept. 12, 2014 /PRNewswire/ -- Allison
Transmission Holdings Inc. (NYSE: ALSN) today announced that
Chairman, President and CEO Lawrence E.
Dewey has been selected by The Carlyle Group (NASDAQ: CG) as
the 2014 recipient of the Louis V. Gerstner Jr. Excellence
Award.
"I am equally honored and humbled to be selected as the
recipient of this prestigious award," said Dewey. "Carlyle's
portfolio includes a plethora of outstanding CEOs. This recognition
is a tribute to the excellent performance achieved through the
dedicated commitment and hard work of the talented employees at
Allison."
Created in 2008, the award is presented to a Carlyle portfolio
company CEO who has demonstrated the most effective leadership
performance over the past year. The award is not determined solely
by statistical results, but also by the perceived difficulty of the
task and the quality of its execution in taking a company to higher
levels of performance. It honors the legacy of Louis V. Gerstner
Jr., former chairman and CEO of IBM, and former chairman and
current operating executive at Carlyle.
"This was the best CEO leadership performance I've witnessed in
my 26 year career at Carlyle," said Greg
Ledford, managing director and head of Carlyle's Industrial
& Transportation team. "Larry
Dewey is first and foremost a leader. His strategic vision,
relentless work ethic, and willingness to make difficult but
necessary decisions have elevated the company to become, without
exaggeration, one of the very best industrial companies in the
world."
In addition to his leadership over the past year, Carlyle also
noted Dewey's most significant accomplishments during their years
of ownership, including:
- Negotiated a fair and favorable standalone labor agreement with
the UAW and has established a harmonious on-going working
relationship.
- Expanded the product line with more successful investments in
new technology in the past seven years than accomplished in the
previous 40 years.
- Expanded into new markets, both domestically and globally,
including the firm's first Asian manufacturing facility.
- Lead the company through the Great Recession, strengthening it
in the process.
Carlyle partnered with Onex Corporation to purchase Allison from
General Motors in August 2007. Both
Carlyle and Onex recently sold their remaining shares in the
company.
"I am grateful to Carlyle, together with co-sponsor Onex, for
providing tremendous support and guidance over the past seven
years," said Dewey. "We are a better business, with better
prospects for the future as a result of their contributions."
About Allison Transmission
Allison Transmission
(NYSE: ALSN) is the world's largest manufacturer of fully automatic
transmissions for medium- and heavy-duty commercial vehicles and is
a leader in hybrid-propulsion systems for city buses. Allison
transmissions are used in a variety of applications including
refuse, construction, fire, distribution, bus, motorhomes, defense
and energy. Founded in 1915, the company is headquartered in
Indianapolis, Indiana, USA and
employs approximately 2,700 people worldwide. With a market
presence in more than 80 countries, Allison has regional
headquarters in the Netherlands,
China and Brazil with manufacturing facilities in the
U.S., Hungary and India. Allison also has approximately 1,400
independent distributor and dealer locations worldwide. For more
information, visit allisontransmission.com.
About The Carlyle Group
The Carlyle Group
(NASDAQ: CG) is a global alternative asset manager with
$203 billion of assets under
management across 126 funds and 139 fund of funds vehicles as of
June 30, 2014. Carlyle's purpose is
to invest wisely and create value on behalf of its investors, many
of whom are public pensions. Carlyle invests across four segments –
Corporate Private Equity, Real Assets, Global Market Strategies and
Solutions – in Africa,
Asia, Australia, Europe, the Middle
East, North America and
South America. Carlyle has
expertise in various industries, including: aerospace, defense
& government services, consumer & retail, energy, financial
services, healthcare, industrial, real estate, technology &
business services, telecommunications & media and
transportation. The Carlyle Group employs more than 1,600 people in
40 offices across six continents.
Forward-Looking Statements
This press release may
contain forward-looking statements. All statements other than
statements of historical fact contained in this press release are
forward-looking statements. In some cases, you can identify
forward-looking statements by terminology such as "may," "will,"
"should," "expect," "plans," "project," "anticipate," "believe,"
"estimate," "predict," "intend," "forecast," "could," "potential,"
"continue" or the negative of these terms or other similar terms or
phrases. Forward-looking statements are not guarantees of future
performance and involve known and unknown risks. Factors which may
cause the actual results to differ materially from those
anticipated at the time the forward-looking statements are made
include, but are not limited to: risks related to our substantial
indebtedness; our participation in markets that are competitive;
general economic and industry conditions; our ability to prepare
for, respond to and successfully achieve our objectives relating to
technological and market developments and changing customer needs;
the failure of markets outside North
America to increase adoption of fully-automatic
transmissions; the discovery of defects in our products, resulting
in delays in new model launches, recall campaigns and/or increased
warranty costs and reduction in future sales or damage to our brand
and reputation; the concentration of our net sales in our top five
customers and the loss of any one of these; risks associated with
our international operations; brand and reputational risks; our
intention to pay dividends; and labor strikes, work stoppages or
similar labor disputes, which could significantly disrupt our
operations or those of our principal customers. Although we believe
the expectations reflected in such forward-looking statements are
based upon reasonable assumptions, we can give no assurance that
the expectations will be attained or that any deviation will not be
material. All information is as of the date of this press release,
and we undertake no obligation to update any forward-looking
statement to conform the statement to actual results or changes in
expectations.
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SOURCE Allison Transmission Holdings Inc.