Helios Technologies Announces Anticipated Board of Director Changes and Declares Quarterly Cash Dividend of $0.09 Per Share
March 09 2020 - 4:15PM
Business Wire
- Christine Koski to retire from Board with 20 years of
service
- Laura Dempsey Brown and Cary Chenanda nominated to stand for
election at annual meeting
Helios Technologies (Nasdaq: HLIO) (“Helios” or the “Company”),
a global industrial technology leader that develops and
manufactures solutions for both the hydraulics and electronics
markets, today announced anticipated changes to its Board of
Directors. The Company also announced that its Board, at its
regular meeting, declared a quarterly cash dividend of $0.09 per
common share. The dividend will be payable on April 20, 2020 to
stockholders of record as of April 5, 2020.
Following 20 years of service on the Helios Board of Directors,
Christine L. Koski has decided not to seek reelection in
conjunction with the 2020 annual meeting. Ms. Koski joined the
Board in 2000 and during her tenure she has served on the
Governance and Nominating Committee as well as the Compensation
Committee, including as its chair from 2012 through 2017.
Philippe Lemaitre, Helios’s Chairman of the Board, noted, “We
are most appreciative of the breadth of knowledge and experience
that Chris brought to the Board of Helios and its predecessor
company, Sun Hydraulics. As the daughter of Sun Hydraulics’
founder, she has a unique understanding of the Company’s historical
culture. Additionally, her international sales and marketing
background contributed to the Board’s overall effectiveness and she
will be missed. We are thankful for her contributions and wish her
well.”
Ms. Koski commented, “It has been a tremendous tribute to my
family to have had the opportunity to serve on the Helios Board and
contribute to the Company’s significant growth and success over the
past 20 years. The Company’s sales were approximately $70 million
when I joined the Board, and have expanded nearly eight-fold since
then. It has been very exciting to be involved with the
transformation of this dynamic organization, and I wish the team
ongoing success.”
The Board is pleased to announce the nominations of Laura
Dempsey Brown and Cary Chenanda for election at the upcoming annual
meeting. Both Ms. Brown and Mr. Chenanda are “independent” under
the Nasdaq rules.
Mr. Lemaitre stated, “We are seeking to fill the vacancies left
by Chris Koski and Dave Grzelak who retired from our Board in
December. Laura Dempsey Brown offers communications, investor
relations, marketing and finance expertise to our Board from her
extensive experience with Grainger. Cary Chenanda’s functional
experience has been developed during a distinguished career with
Cummins, where he applied his general management, engineering,
marketing and purchasing skills globally. We are confident that the
capabilities offered by Laura and Cary can be instrumental in
guiding Helios as we continue to execute our Vision 2025 strategic
plan.”
Laura Dempsey Brown retired in 2018 from W.W. Grainger, Inc.
(NYSE: GWW), a leading broad line supplier of maintenance, repair
and operating products after 19 years. She was the Senior Vice
President, Communications and Investor Relations since 2010.
Previously Ms. Brown served as Vice President of Marketing, and she
also led the strategy development and operational execution of
Grainger’s multi-year market expansion initiative focused on the
top 25 U.S. metro markets. In addition, Ms. Brown served as the
Vice President of Finance for Grainger’s field sales, operations,
marketing and e-business functions.
Prior to joining Grainger, Ms. Brown was a Vice President at
Alliant Foodservice and at Dietary Products at Baxter. She began
her career at Baxter in 1985 focusing primarily on financial roles
in the distribution and manufacturing businesses. She graduated
from Indiana University with a bachelor’s degree in accounting and
obtained designation as a CPA. Ms. Brown is a member of The Chicago
Network, The International Women’s Forum, and served on the board
of Make-A-Wish Illinois for six years, including two years as board
chair. She is also a member of the dean’s council of the Kelley
School of Business at Indiana University.
Cary Chenanda is a Vice President of Cummins Inc. (NYSE: CMI), a
global power leader that designs, manufactures, distributes and
services diesel and natural gas engines and engine-related
component products. Mr. Chenanda has been with Cummins Inc. for 22
years and currently leads the global Electronics and Fuel Systems
business, a position he has held since 2017. In 2012 he helped
launch the Electronics business as the 5th line of business within
Cummins’s Components segment. From 2009 to 2012, Mr. Chenanda was
Executive Director for Global OE Sales and was responsible for new
product development at Cummins Filtration. From 2007 to 2009, he
was the General Manager for the Cummins-Scania Fuel Systems Joint
Venture and managed the Fuel Systems startup in Wuhan, China. Mr.
Chenanda worked in roles of increasing responsibility in
engineering, marketing and purchasing within the Cummins Engine
business between 1998 and 2007.
Prior to joining Cummins, Mr. Chenanda worked for Ecolab and
Robert Bosch GmbH. He is a Certified Purchasing Manager, a
certified Six Sigma Green Belt and holds seven U.S. patents. Mr.
Chenanda holds an MBA from Indiana University’s Kelly School of
Business, an MS in mechanical engineering from Texas A&M
University and a bachelor’s in mechanical engineering from the
University of Mysore, India. Mr. Chenanda also currently serves on
the Industry Advisory Council for Texas A&M’s mechanical
engineering program.
About Helios Technologies
Helios Technologies is a global industrial technology leader
that develops and manufactures hydraulic and electronic control
solutions for diverse markets. The Company operates in two business
segments, Hydraulics and Electronics. The Hydraulics segment
markets and sells products globally under the brands of Sun
Hydraulics in relation to cartridge valve technology, Custom
Fluidpower with regard to hydraulic system design and Faster in
connection with quick release coupling solutions. Global
Electronics brands include Enovation Controls and Murphy for
fully-tailored solutions with a broad range of rugged and reliable
instruments such as displays, controls and instrumentation
products. Helios Technologies and information about its associated
companies is available online at www.heliostechnologies.com.
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For more information: Karen L. Howard / Deborah K.
Pawlowski Kei Advisors LLC (716) 843-3942 / (716) 843-3908
khoward@keiadvisors.com / dpawlowski@keiadvisors.com
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