Matosevic also appointed to Helios’s Board
of Directors
Helios Technologies, Inc. (Nasdaq: HLIO) (“Helios” or the
“Company”), a global industrial technology leader that develops and
manufactures solutions for both the hydraulics and electronics
markets, announced today that the Board of Directors has appointed
Josef Matosevic as the Company’s next President and Chief Executive
Officer, effective June 9, 2020. He was also appointed to the
Helios Board of Directors, effective on the same date.
Mr. Matosevic succeeds Tricia Fulton, Helios’s Interim President
and CEO, who replaced Wolfgang H. Dangel when he separated from
Helios in April. Ms. Fulton retains her position as Helios’s Chief
Financial Officer, a position she held in addition to the Interim
President and CEO responsibilities. Also, Philippe Lemaitre will
return to his role as Chairman of the Board of Helios effective
June 9, after having served as Executive Chairman on an interim
basis during the transition period.
“We are pleased to welcome Josef to lead Helios,” said Mr.
Lemaitre. “He emerged as our clear choice, following a
comprehensive and independent search process. We believe that his
leadership style and cultural fit, as well as his proven ability to
grow businesses, focus on customers, and develop talent are key
attributes for Helios’s continued success. We expect his diverse
global experience, technological vision, and history of operational
excellence, including Lean Six Sigma, will make him a strong leader
for the execution of our Vision 2025 strategy. Further, his proven
foresight will complement the strengths of the existing team in the
evolution of our future strategy beyond 2025. We are pleased that
we were able to attract such an outstanding candidate and believe
it is a testament to the strength and potential of the global
Helios organization.”
Mr. Lemaitre continued, “We also thank Tricia for very
effectively serving as Interim CEO, especially during these very
challenging and unprecedented times. She did an excellent job
seamlessly leading the organization over the past couple of months,
applying her broad and extensive experience to ensure a smooth
transition. I also want to thank the extended leadership team and
all of the hard-working and dedicated employees throughout the
globe who contribute daily to the success of the organization.”
“It is an honor to be selected as Helios’s next President and
CEO,” commented Mr. Matosevic. “The Company has a rich history of
industry leadership and I am excited to lead the team on its path
to achieving Vision 2025, while striving to exceed the expectations
of our global stakeholders. I believe that the combination of our
strong portfolio, talented and experienced management team, and the
Vision 2025 strategy serve as a solid foundation for ongoing
success.”
Josef Matosevic brings over 26 years of global business
experience to Helios, with skills and focus on commercial sales,
M&A, strategic operating systems, Lean Six Sigma practices,
automation, and supply chain development. He has lived, worked and
traveled around the globe, developing specialties and business
perspectives in the U.S., China, India, South America, Mexico,
Japan, and Western, Eastern, and Central Europe. Mr. Matosevic most
recently served as the Executive Vice President and Chief Operating
Officer of Welbilt, Inc. (formerly Manitowoc Foodservice) (NYSE:
WBT), a global manufacturer of commercial foodservice equipment,
since August 2015, as well as Interim President and CEO during a
transition period in 2018. Prior to that, he served as Senior Vice
President/Executive Vice President of Global Operational
Excellence/Supply Chain for The Manitowoc Company, Inc. (NYSE:
MTW), a capital goods manufacturer, from 2012 to 2015.
Prior to joining Manitowoc, Mr. Matosevic served in various
executive positions with Oshkosh Corporation (NYSE: OSK), a
designer, manufacturer and marketer of a broad range of specialty
vehicles and vehicle bodies from 2008 to 2012, including as its
Executive Vice President, Global Operations from 2010 to 2012. With
Wynnchurch Capital/Android Industries from 1998 to 2008, he served
as Chief Operating Officer from 2007 to 2008 and Vice President of
Global Operations from 2005 to 2007. Mr. Matosevic holds a
bachelor’s degree in mechanical engineering and materials science
from Bayerische Julius-Maximilian’s Universität in Würzburg,
Germany.
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.
FORWARD-LOOKING INFORMATION
This news release contains “forward‐looking statements” within
the meaning of Section 21E of the Securities Exchange Act of 1934.
Forward‐looking statements involve risks and uncertainties, and
actual results may differ materially from those expressed or
implied by such statements. They include statements regarding
current expectations, estimates, forecasts, projections, our
beliefs, and assumptions made by Helios Technologies, Inc.
(“Helios” or the “Company”), its directors or its officers about
the Company and the industry in which it operates, and assumptions
made by management, and include among other items, (i) the
Company’s ongoing management transition, (ii) the Company’s
strategies regarding growth, including its intention to develop new
products and make acquisitions; and (iii) trends affecting the
Company’s financial condition or results of operations. In
addition, we may make other written or oral statements, which
constitute forward-looking statements, from time to time. Words
such as “may,” “expects,” “projects,” “anticipates,” “intends,”
“plans,” “believes,” “seeks,” “estimates,” variations of such
words, and similar expressions are intended to identify such
forward-looking statements. Similarly, statements that describe our
future plans, objectives or goals also are forward-looking
statements. These statements are not guaranteeing future
performance and are subject to a number of risks and uncertainties.
Our actual results may differ materially from what is expressed or
forecasted in such forward-looking statements, and undue reliance
should not be placed on such statements. All forward-looking
statements are made as of the date hereof, and we undertake no
obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise.
Factors that could cause the actual results to differ materially
from what is expressed or forecasted in such forward‐looking
statements include, but are not limited to, (i) disruptions or
uncertainties caused by our ongoing management transition, (ii)
conditions in the capital markets, including the interest rate
environment and the availability of capital; (iii) changes in the
competitive marketplace that could affect the Company’s revenue
and/or cost bases, such as increased competition, lack of qualified
engineering, marketing, management or other personnel, and
increased labor and raw materials costs; and (iv) new product
introductions, product sales mix and the geographic mix of sales
nationally and internationally. Further information relating to
factors that could cause actual results to differ from those
anticipated is included but not limited to information under the
heading Item 1. “Business” and Item 1A. “Risk Factors” in the
Company’s Form 10-K for the year ended December 28, 2019 and Part
II, Item 1A. “Risk Factors” in the Company’s Form 10-Q for the
quarter ended March 28, 2020.
This news release will discuss some historical non-GAAP
financial measures, which the Company believes are useful in
evaluating its performance. The determination of the amounts that
are excluded from these non-GAAP measures is a matter of management
judgment and depends upon, among other factors, the nature of the
underlying expense or income recognized in a given period. You
should not consider the inclusion of this additional information in
isolation or as a substitute for results prepared in accordance
with GAAP.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200515005045/en/
Karen L. Howard / Christopher M. Gordon Kei Advisors LLC (716)
843-3942/ (716) 843-3874 khoward@keiadvisors.com /
cgordon@keiadvisors.com
Helios Technologies (NASDAQ:HLIO)
Historical Stock Chart
From Sep 2024 to Oct 2024
Helios Technologies (NASDAQ:HLIO)
Historical Stock Chart
From Oct 2023 to Oct 2024