NN, Inc. Announces Resignation of Matthew Heiter, Senior Vice President, General Counsel and Secretary, Due to Health Reasons
April 28 2023 - 4:30PM
NN, Inc. (NASDAQ: NNBR), a global diversified industrial company
that manufactures high-precision components and assemblies, today
announced that due to health reasons, Matthew S. Heiter is
resigning as Senior Vice President, General Counsel and Secretary
of NN, Inc., effective immediately.
Warren Veltman, President and Chief Executive Officer,
commented, “I would like to express my sincere appreciation for
Matt’s leadership and many contributions since he joined our team
in 2015. As General Counsel, Matt has been a steadfast partner to
me during my tenure as CEO, and a significant driver of the
evolution and success of our business. Matt has served as a trusted
voice on our leadership team and was instrumental in the
transformational sale of our Life Sciences business and helping NN
pursue a more sustainable path for growth. I’m grateful
for his contributions to NN during his nearly eight years of
service, and we wish him the best.”
Mr. Heiter joined NN in July 2015 as Senior Vice President
and General Counsel. During his tenure, Mr. Heiter led the Company
through complex matters while ensuring all Company standards and
policies reflect the needs of a changing world and new generation
of employees. Underscoring this focus is the Company’s commitment
to diversity, equity and inclusion (DEI) and reinforcing NN’s
dedication to creating a safe and inclusive work environment,
treating employees ethically, and fostering a workplace that
empowers every member of NN’s team. Mr. Heiter also led NN’s
efforts to develop and produce the Company’s first Sustainability
Report in May 2022.
About NN, Inc.
NN, Inc., a global diversified industrial company, combines
advanced engineering and production capabilities with in-depth
materials science expertise to design and manufacture
high-precision components and assemblies for a variety of markets
on a global basis. Headquartered in Charlotte, North Carolina, NN
has 31 facilities in North America, Europe, South America, and
Asia.
Except for specific historical information, many of the matters
discussed in this press release may express or imply projections of
revenues or expenditures, statements of plans and objectives or
future operations or statements of future economic performance.
These statements may discuss goals, intentions and expectations as
to future trends, plans, events, results of operations or financial
condition, or state other information relating to NN, Inc. based on
current beliefs of management as well as assumptions made by, and
information currently available to, management. Forward-looking
statements generally will be accompanied by words such as
“anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,”
“guidance,” “intend,” “may,” “possible,” “potential,” “predict,”
“project” or other similar words, phrases or expressions.
Forward-looking statements involve a number of risks and
uncertainties that are outside of management’s control and that may
cause actual results to be materially different from such
forward-looking statements. Such factors include, among others,
general economic conditions and economic conditions in the
industrial sector; the impacts of pandemics, epidemics, disease
outbreaks and other public health crises, including the COVID-19
pandemic, on our financial condition, business operations and
liquidity; competitive influences; risks that current customers
will commence or increase captive production; risks of capacity
underutilization; quality issues; material changes in the costs and
availability of raw materials; economic, social, political and
geopolitical instability, currency fluctuation, and other risks of
doing business outside of the United States; inflationary pressures
and changes in the cost or availability of materials, supply chain
shortages and disruptions, and the availability of labor; our
dependence on certain major customers, some of whom are not parties
to long-term agreements (and/or are terminable on short notice);
the impact of acquisitions and divestitures; our ability to hire or
retain key personnel; the level of our indebtedness; the
restrictions contained in our debt agreements; our ability to
obtain financing at favorable rates, if at all, and to refinance
existing debt as it matures; unanticipated difficulties integrating
acquisitions; new laws and governmental regulations; the impact of
climate change on our operations; and cyber liability or potential
liability for breaches of our or our service providers’ information
technology systems or business operations disruptions. The
foregoing factors should not be construed as exhaustive and should
be read in conjunction with the sections entitled “Risk Factors”
and “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” included in the Company’s filings made
with the Securities and Exchange Commission. Any forward-looking
statement speaks only as of the date of this press release, and the
Company undertakes no obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as required by law. New
risks and uncertainties may emerge from time to time, and it is not
possible for the Company to predict their occurrence or how they
will affect the Company. The Company qualifies all forward-looking
statements by these cautionary statements.
FOR FURTHER INFORMATION:
Jeff Tryka, CFA Investor Relations
Contactjtryka@lambert.com (616)
258-5766
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