NOVI,
Mich., Nov. 21, 2024 /PRNewswire/
-- The Shyft Group, Inc. (NASDAQ: SHYF) ("Shyft" or the
"Company"), the North American leader in specialty vehicle
manufacturing, assembly, and upfit for the commercial, retail, and
service specialty vehicle markets, today announced that
Jon Douyard has resigned as Chief
Financial Officer to pursue another professional opportunity
outside the industry. He will continue to serve as CFO until
December 31, 2024 to ensure a smooth
transition.
"On behalf of our employees, executive leadership team, and
Board of Directors, I want to thank Jon for his nearly five years
of leadership at Shyft," said John
Dunn, President and CEO. "As CFO, Jon has instilled
financial discipline, maintained a strong balance sheet, and driven
growth. I am personally grateful for his partnership and
contributions, which have strengthened Shyft and positioned the
Company for continued success. We wish Jon the very best in the
next chapter of his career."
Douyard said, "It has been a privilege to serve as Shyft's CFO.
Together with highly talented employees, we have made meaningful
organic and inorganic investments in our future. I am confident
this team is well-equipped to continue driving Shyft's growth and
success."
Shyft's Board of Directors is commencing a comprehensive search
for a new CFO, supported by a leading, independent executive search
firm. The Company is considering both internal and external
succession candidates.
About The Shyft Group
The Shyft Group is the North American leader in specialty
vehicle manufacturing, assembly, and upfit for the commercial,
retail, and service specialty vehicle markets. Our customers
include first-to-last mile delivery companies across vocations,
federal, state, and local government entities; the trades; and
utility and infrastructure segments. The Shyft Group is organized
into two core business units: Shyft Fleet Vehicles and Services™
and Shyft Specialty Vehicles™. Today, its family of brands include
Utilimaster®, Blue Arc™ EV Solutions, Royal® Truck Body, DuraMag®
and Magnum®, Strobes-R-Us, Spartan® RV Chassis, Red Diamond™
Aftermarket Solutions, Builtmore Contract Manufacturing™, and
Independent Truck Upfitters. The Shyft Group and its go-to-market
brands are well known in their respective industries for quality,
durability, and first-to-market innovation. The Company employs
approximately 3,000 employees and contractors across campuses, and
operates facilities in Arizona,
California, Florida, Indiana, Iowa, Maine,
Michigan, Missouri, Pennsylvania, Tennessee, Texas, and Saltillo,
Mexico. The Company reported sales of $872 million in 2023. Learn more
at TheShyftGroup.com.
CONTACTS
MEDIA
Sydney Machesky Director, Corporate
Communications
Sydney.Machesky@theshyftgroup.com
586.413.4112
INVESTORS
Randy Wilson
Vice President, Investor Relations and Treasury
Randy.Wilson@theshyftgroup.com
248.727.3755
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SOURCE The Shyft Group, Inc.