Briggs & Stratton Corporation Announces Retirement of CEO
July 30 2009 - 8:13AM
PR Newswire (US)
MILWAUKEE, July 30 /PRNewswire-FirstCall/ -- Briggs & Stratton
Corporation (NYSE:BGG) Briggs & Stratton Corporation today
announced that John S. Shiely plans to retire as Chief Executive
Officer effective December 31, 2009. It is expected that the Board
of Directors will appoint Todd J. Teske, currently President and
Chief Operating Officer, as President and Chief Executive Officer
effective January 1, 2010. Provided Mr. Shiely is re-elected as a
director at the 2009 annual meeting of shareholders currently
scheduled for October 21, 2009, Mr. Shiely intends to continue to
serve as a director and Chairman of the Board until the 2010 annual
meeting of shareholders. It is also expected that the Board of
Directors will elect Mr. Teske as a director prior to Mr. Shiely's
retirement. Mr. Teske, age 44, has served as President and Chief
Operating Officer since September 1, 2008. Mr. Teske is also
President of Briggs & Stratton Power Products Group, LLC. He
previously served as Executive Vice President and Chief Operating
Officer since September 2005, and as Senior Vice President and
President - Briggs & Stratton Power Products Group, LLC from
September 2003 until August 2005. Mr. Shiely has been Chairman and
Chief Executive Officer of the Corporation since September 2008,
after serving as Chairman, Chief Executive Officer and President
since January 2003. He previously served as President and Chief
Executive Officer, President and Chief Operating Officer, Executive
Vice President - Administration, and General Counsel. In addition,
Mr. Shiely serves as a director and Chairman of the Board of the
Corporation's subsidiary Briggs & Stratton Power Products
Group, LLC, and his retirement from those positions is expected to
be effective December 31, 2009. About Briggs & Stratton
Corporation Briggs & Stratton Corporation is the world's
largest producer of gasoline engines for outdoor power equipment.
Its wholly owned subsidiary, Briggs & Stratton Power Products
Group, LLC, is North America's No. 1 manufacturer of portable
generators and pressure washers, and is a leading designer,
manufacturer and marketer of lawn and garden and turf care
equipment through its Simplicity , Snapper , Ferris and Murray
brands. Briggs & Stratton products are designed, manufactured,
marketed and serviced in more than 100 countries on six continents.
For more information, visit www.briggsandstratton.com. DATASOURCE:
Briggs & Stratton Corporation CONTACT: Investor Relations,
James E. Brenn, Senior VP and Chief Financial Officer of Briggs
& Stratton Corporation, +1-414-259-5333 Web Site:
http://www.briggsandstratton.com/
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