Helios Technologies Announces Appointment of New Directors and Postponement of 2020 Annual Meeting of Shareholders
April 23 2020 - 6:30AM
Business Wire
- Laura Dempsey Brown, Cary Chenanda and Gregory Yadley
appointed to Helios Board of Directors
- Annual Meeting of Shareholders rescheduled to August 6,
2020
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 that its Board of Directors appointed Ms.
Laura Dempsey Brown, Mr. Cariappa (Cary) M. Chenanda and Mr.
Gregory C. Yadley to the Board, effective April 20, 2020. All three
new Directors are “independent” under Nasdaq rules. The Company
also announced that its Board approved the postponement of the
Company’s 2020 Annual Meeting of Shareholders (2020 Annual Meeting)
to August 6, 2020. Shareholders of record on June 1, 2020 will be
entitled to vote at the meeting and shareholder proposals to be
considered for inclusion in the proxy are now due by
May 4, 2020.
The Company previously announced that it had nominated Ms. Brown
and Mr. Chenanda for election at its upcoming 2020 Annual Meeting,
which was originally scheduled for June 5, 2020. However, due to
the public health concerns regarding COVID-19 and
government-recommended and required limits on gatherings and
events, the Board determined that it would be in the best interest
of shareholders and employees to postpone the 2020 Annual Meeting.
Accordingly, this led to the appointment of Ms. Brown and Mr.
Chenanda currently. Both will serve as members of the class of
directors whose term will expire at the 2020 Annual Meeting and Mr.
Yadley will serve as a member of the class of directors whose term
will expire at the 2021 Annual Meeting of Shareholders. The Board
appointed Ms. Brown to serve on the Audit Committee and
Compensation Committee, Mr. Chenanda to serve on the Compensation
Committee and the Governance and Nominating Committee and Mr.
Yadley to serve on the Governance and Nominating Committee.
Philippe Lemaitre, Helios’s Executive Chairman of the Board,
noted, “We are pleased to welcome Laura, Cary and Greg to the
Helios team. Their varied skills and experience are complementary
to those of the existing Board members and we anticipate that their
insights will prove invaluable as we navigate these historic times
in the near term and drive toward our strategic goals in the long
term.”
He added, “Especially as we embrace the current environment, we
are reminded that the health and safety of our employees, as well
as all of our stakeholders, is our first and foremost priority. The
Company has undertaken significant procedural changes at all of its
facilities across the globe to facilitate the maintenance of good
health and safety. With the strengths founded in the Helios
organization, from our well-respected brands, to our dedicated
global employees, and our ample liquidity, we are confident that we
will successfully manage through the challenges we face, emerging
as an even stronger organization as we pursue our Vision 2025
goals.”
Gregory Yadley has practiced corporate and securities law for
over 40 years and has been a partner with Shumaker, Loop &
Kendrick, LLP since January 1993. Prior to entering private
practice, he served as Branch Chief at the U.S. Securities and
Exchange Commission and Assistant General Counsel for the Federal
Home Loan Mortgage Corporation, both in Washington, D.C. Mr. Yadley
currently serves as a member of the SEC’s Advisory Committee on
Small Business Capital Formation. He is a graduate of Dartmouth
College and the George Washington University Law School. Mr. Yadley
brings to the Board broad experience with respect to securities,
corporate governance, financing transactions, mergers and
acquisitions, internal investigations, contract negotiations and
disputes, strategic planning, and general corporate matters.
As recently announced, the Company will release its first
quarter 2020 financial results after the close of financial markets
on Monday, May 4th and host a conference call and webcast on
Tuesday, May 5th at 9:00am ET.
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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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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