Brady Corporation (NYSE: BRC) (“Brady”), a world leader in
identification solutions, today announced the appointment of
J. Michael Nauman as President, Chief Executive Officer and
Director, effective immediately.
J. Michael Nauman Named Brady Corporation
CEO (Photo: Business Wire)
“Michael Nauman is known and respected as a hands-on leader who
thrives on attacking challenges, building customer relationships
and driving product innovation,” said Conrad Goodkind, the Lead
Independent Director of Brady’s Board. “His strong operational and
financial background and experience in managing and growing diverse
products and businesses throughout the world make him the ideal
person to lead our business into the future.”
Goodkind noted that Thomas J. Felmer, who has served as Interim
President and CEO since last October, will return to his previous
position as Senior Vice President and Chief Financial Officer.
“On behalf of the Board, I want to thank Tom for his leadership
as Interim CEO. Under his watch, Brady has seen an upturn in sales
from continuing operations and organic sales growth, he managed the
divestiture of our European and Asian die-cut businesses, and we
were chosen by Airbus to provide flexible print-on-demand RFID
integrated nameplates,” said Goodkind. “We are appreciative of
Tom's leadership and the Board looks forward to working with
Michael, Tom and others in growing shareholder value.”
Nauman joins Brady after 20 years in a number of senior
management positions at Lisle, Illinois-based Molex Incorporated.
For the past five years, he was Molex’s Executive Vice President
and President of the Global Integrated Products Division, where he
led six global business units in the automotive, datacom,
industrial, medical, military/aerospace and mobile markets. Under
Nauman’s leadership, the Global Integrated Products Division grew
to 12,000 employees at 26 locations in 13 countries with $1.2
billion in annual sales.
“I have been a Brady customer for many years and have always
been impressed with the quality of Brady's products and services,
as well as its history of innovation. I was excited to learn about
the opportunity at Brady,” said Nauman. “I’ve spent the past 20
years at a family controlled public company with Midwestern roots
and values similar to Brady. Both companies share a global
perspective and footprint and take great pride in their histories.
I am both motivated and energized to be a part of the Brady
family,” he added.
“Brady has a 100-year legacy of high quality, reliability and
innovation. I will work to reinforce that culture and build on it
to drive profitable growth and differentiate Brady from its
competition. My goal is to make Brady even stronger and increase
its industry leadership for the next hundred years,” said
Nauman.
Nauman began his career as a tax accountant and auditor for
Arthur Andersen and Company before serving as Controller and then
President of Ohio Associated Enterprises, Inc. before joining Molex in 1994.
Nauman earned a Bachelor of Science in Management from Case
Western Reserve University, is a Certified Public Accountant (CPA),
a Chartered Global Management Accountant (CGMA) and holds three
U.S. patents. He is a board member of the Arkansas Science &
Technology Authority; Arkansas Science, Technology, Engineering and
Math (STEM) Coalition; and Museum of Discovery.
About Brady Corporation
Brady Corporation is an international manufacturer and
marketer of complete solutions that identify and protect people,
products and places. Brady’s products help customers increase
safety, security, productivity and performance and include
high-performance labels, signs, safety devices, printing systems
and software. Founded in 1914, the company has a diverse customer
base in electronics, telecommunications, manufacturing, electrical,
construction, medical and a variety of other industries. Brady is
headquartered in Milwaukee, Wisconsin, and as
of July 31, 2013, employed approximately 7,400 people in its
worldwide businesses. Brady’s fiscal 2013 sales were
approximately $1.15 billion. Brady stock trades on
the New York Stock Exchange under the symbol BRC. More
information is available at www.bradycorp.com.
Forward Looking Statements
Certain information in this news release constitutes
"forward-looking statements." These forward-looking statements
relate to, among other things, statements concerning the
consummation of the sale of the Die-Cut business and the Company's
future financial position, business strategy, targets, projected
sales, costs, earnings, capital expenditures, debt levels and cash
flows, and plans and objectives of management for future
operations, all of which are based on current expectations and
assumptions that are subject to risks and uncertainties. The use of
words such as “may,” “will,” “expect,” “intend,” “estimate,”
“anticipate,” “believe,” “should,” “project” or “plan” or similar
terminology are generally intended to identify forward-looking
statements. These forward-looking statements by their nature
address matters that are, to different degrees, uncertain and are
subject to risks, assumptions, and other factors, some of which are
beyond Brady's control, that could cause actual results to differ
materially from those expressed or implied by such forward-looking
statements. For Brady, uncertainties arise from: Implementation of
the Workplace Safety strategy; the length or severity of the
current worldwide economic downturn or timing or strength of a
subsequent recovery; future financial performance of major markets
Brady serves, which include, without limitation,
telecommunications, hard disk drive, manufacturing, electrical,
construction, laboratory, education, governmental, public utility,
computer, healthcare and transportation; future competition;
changes in the supply of, or price for, parts and components;
increased price pressure from suppliers and customers; Brady's
ability to retain significant contracts and customers; fluctuations
in currency rates versus the U.S. dollar; risks associated with
international operations; difficulties associated with exports;
risks associated with obtaining governmental approvals and
maintaining regulatory compliance; Brady's ability to develop and
successfully market new products; risks associated with
identifying, completing, and integrating acquisitions; risks
associated with divestitures and businesses held for sale; risks
associated with restructuring plans; environmental, health and
safety compliance costs and liabilities; risk associated with loss
of key talent; risk associated with product liability claims;
technology changes and potential security violations to the
Company's information technology systems; Brady's ability to
maintain compliance with its debt covenants; increase in our level
of debt; potential write-offs of Brady's substantial intangible
assets; unforeseen tax consequences; risk, associated with our
ownership structure; and numerous other matters of national,
regional and global scale, including those of a political,
economic, business, competitive, and regulatory nature contained
from time to time in Brady's U.S. Securities and Exchange
Commission filings, including, but not limited to, those
factors listed in the “Risk Factors” section within Item 1A of
Part I of Brady’s Form 10-K for the year ended July 31, 2013.
These uncertainties may cause Brady's actual future results to be
materially different than those expressed in its forward-looking
statements. Brady does not undertake to update its forward-looking
statements except as required by law.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20140804005258/en/
Brady CorporationAaron Pearce, 414-438-6895 (Investor)Carole
Herbstreit, 414-438-6882 (Media)
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