Brady Corporation Announces CEO Leadership Transition
March 11 2022 - 7:00AM
Brady Corporation (NYSE: BRC) (“Brady” or “Company”) today
announced the retirement of Director, President and Chief Executive
Officer J. Michael Nauman and the appointment of current Senior
Vice President and President – Identification Solutions, Russell R.
Shaller as President, Chief Executive Officer and Director,
effective April 1, 2022. At the request of the Board of Directors,
Mr. Nauman will remain with the Company in a consultative position
until June 17, 2022, to ensure a smooth transition. Mr. Shaller
will retain his responsibilities as Senior Vice President and
President – Identification Solutions while conducting a search for
his replacement.
“During Michael’s tenure as CEO, Brady strengthened its position
as a global leader of complete solutions for niche safety,
identification and compliance markets while focusing on long-term
sustainable organic growth and profitability improvements,
resulting in record-high EPS in fiscal 2021,” said Brady’s Chair of
the Board of Directors, Bradley C. Richardson. “We look forward to
continuing to grow the business both organically and through
strategic acquisitions as we further position Brady into
faster-growing end markets. On behalf of the Board, I want to thank
Michael for his service and dedication to Brady and all of its
stakeholders and for his many contributions to Brady’s strong
position today.”
Mr. Richardson added, “We are fortunate to have Russell step in
to serve as our President and CEO. With nearly 7 years of
experience at Brady and over 30 years in the industrial
manufacturing industry, Russell’s leadership has been essential to
both Brady’s organic growth and inorganic expansion through the
recent acquisition of companies in the high-growth industrial track
and trace market. The Board has great confidence in Russell’s
strong track record which is essential to continue our momentum
during this transition and for the long-term.”
Mr. Shaller said, “Brady’s people, products and expertise create
a strong foundation to accelerate growth and continue to reposition
our portfolio. I am excited to build out our recent acquisitions
and to continue to drive efficiency improvements throughout the
organization. The strong foundation built by Michael, the positive
momentum within our business and the favorable trends within the
broader industry make me incredibly positive about the outlook for
our company and our stakeholders. I look forward to leading Brady
as we continue our expansion into faster-growing end markets to
increase sales growth rates and profitability over the
long-term.”
Mr. Nauman stated, “I am incredibly proud of the Brady team, our
culture, and what we have accomplished together. During my tenure
at Brady we focused the organization on what we do best, which is
to manufacture high-quality products, to serve our customers
extremely well, to drive innovative new product development and to
deliver increased value to our shareholders. I am also proud of how
Brady has successfully managed through many challenges including
the Covid-19 pandemic and the resulting supply chain and logistics
bottlenecks that followed. I am confident that Brady is
well-positioned for the future under Russell’s leadership through
its unwavering commitment to its customers, employees and
shareholders.”
About Mr. Russell R. Shaller:Mr. Shaller has
served as Brady’s Senior Vice President and President –
Identification Solutions for nearly 7 years.
Prior to joining Brady, Mr. Shaller served as President,
Teledyne Microwave Solutions from 2008 to 2015. Before joining
Teledyne, Mr. Shaller held a number of positions of increasing
responsibility at W.L. Gore & Associates, including Division
Leader, Electronic Products Division from 2003 to 2008 and General
Manager of Gore Photonics from 2001 to 2003. Prior to joining W.L.
Gore in 1993, Mr. Shaller worked in engineering and program
management at Westinghouse Corporation. He holds a bachelor’s
degree in electrical engineering from the University of Michigan, a
master’s degree in electrical engineering from Johns Hopkins
University and a master’s degree in business administration from
the University of Delaware.
About Brady: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, aerospace and a variety of other industries. Brady is
headquartered in Milwaukee, Wisconsin and as of July 31, 2021,
employed approximately 5,700 people in its worldwide businesses.
Brady’s fiscal 2021 sales were approximately $1.14 billion. Brady
stock trades on the New York Stock Exchange under the symbol BRC.
More information is available at www.bradyid.com.
For More Information:Investor contact: Ann Thornton
414-438-6887Media contact: Kate Venne 414-358-5176
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