NN, Inc. Announces David Harrison as Chief Procurement Officer
August 22 2023 - 8:51AM
NN, Inc. (NASDAQ: NNBR), a global diversified industrial company
that manufactures high-precision components and assemblies, today
announced the appointment of David Harrison, Chief
Procurement Officer, effective immediately. In this role, he
is responsible for leading and transforming the company’s
procurement and supply chain function globally. Mr. Harrison brings
more than three decades of experience in manufacturing, operations,
and business transformation. He will report to Tim French, NN’s new
Chief Operating Officer.
“I am excited to welcome David as NN’s first Chief Procurement
Officer. Both Harold Bevis and I have had the pleasure of working
with David in the past. He brings a wealth of industry specific
experience and a proven track record of driving transformational
improvement in the procurement area with organizations
significantly larger than NN,” said Mr. French. “David is a great
addition to NN’s leadership team.”
“I’ve spent a great deal of time in my career in manufacturing
and adjacent industries, I’ve lived and worked in the U.S., Asia
Pacific, and Europe, and I’m thrilled to be joining NN at such an
opportune time,” said Mr. Harrison. “We can achieve growth and
deliver strong shareholder value through more effective cost
management and better, stronger, and more integrated partnerships
with key suppliers. We are quickly developing a team of effective
supply chain leaders to accelerate change.”
A native of Michigan, Mr. Harrison has served in senior
executive procurement, sourcing, and logistics roles in
manufacturing for over three decades. His experience developing and
implementing transformation initiatives including strategic
realignment of sourcing and procurement teams, efficient inventory
management, and cost management strategies have saved companies
tens of millions of dollars. Mr. Harrison also has deep experience
in procurement of NN’s top commodities of steel, copper, and
freight. He holds a Bachelor of Arts degree in Economics from
Albion College and an MBA from Michigan State University.
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 facilities in North America, Europe, South
America, and Asia. For more information about the company and its
products, please visit www.nninc.com.
FORWARD-LOOKING STATEMENTSExcept 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.
Contact:Tim PetersMedia Contact+1 773 318
7558tim.peters@alphaadvgroup.com
Joseph Caminiti, CFAInvestor Relations
Contactjoseph.caminiti@alpha-ir.com+1 312 445 2864
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