LSI Industries Inc. Names Ronald D. Brown Interim CEO and Crawford Lipsey as Interim COO
24 4월 2018 - 2:56AM
LSI Industries Inc. (NASDAQ:LYTS)
today
announced that its board of directors appointed Ronald D.
Brown as interim chief executive officer and Crawford Lipsey as
interim president and chief operating officer effective
immediately. The hiring of Brown and Lipsey follows the departure
of Dennis W. Wells as president and chief executive officer on
April 23, 2018. They will report to John Morgan, a member of LSI’s
board of directors who will serve as managing director during the
transition. The board has initiated a search to identify a
permanent replacement for Wells.
Brown most recently served as Vice Chairman of The Armor Group,
a certified woman owned corporation which provides manufactured
goods and services to a variety of industries. He is the retired
chairman and chief executive officer of Milacron Inc., a supplier
of plastics processing and industrial fluids technologies with
manufacturing facilities in North America, Europe and Asia. Brown
serves on the Board of Directors of A.O. Smith Corporation and
James Advantage Funds Trust and serves on the University of
Cincinnati Board of Trustees. Lipsey worked for several years in
the lighting and electrical industry prior to serving for ten years
at Acuity Brands Lighting, including as executive vice president
for an Acuity division reporting $500 million in annual
revenue. Lipsey also invested and worked with venture capital
sources to build Relume Technologies, a LED lighting and controls
manufacturer. Since 2015 he has been a consultant serving various
companies in the lighting industry. He also serves on a
number of not-for-profit boards providing services for
children.
“Ron and Crawford have decades of executive leadership
experience and we are grateful for their willingness to provide a
seamless transition until the permanent CEO role is filled,” said
Morgan. “Their business acumen, impeccable reputations and relevant
experience are attributes that will help us enhance operational
efficiencies and increase shareholder value. LSI appreciates the
contributions Mr. Wells made to the company since he joined LSI in
2014.”
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995
This document contains certain forward-looking statements that
are subject to numerous assumptions, risks or
uncertainties. The Private Securities Litigation Reform
Act of 1995 provides a safe harbor for forward-looking
statements. Forward-looking statements may be identified
by words such as “estimates,” “anticipates,” “projects,” “plans,”
“expects,” “intends,” “believes,” “seeks,” “may,” “will,” “should”
or the negative versions of those words and similar expressions,
and by the context in which they are used. Such
statements, whether expressed or implied, are based upon current
expectations of the Company and speak only as of the date
made. Actual results could differ materially from those
contained in or implied by such forward-looking statements as a
result of a variety of risks and uncertainties over which the
Company may have no control. These risks and
uncertainties include, but are not limited to, the impact of
competitive products and services, product demand and market
acceptance risks, potential costs associated with litigation and
regulatory compliance, reliance on key customers, financial
difficulties experienced by customers, the cyclical and seasonal
nature of our business, the adequacy of reserves and allowances for
doubtful accounts, fluctuations in operating results or costs
whether as a result of uncertainties inherent in tax and accounting
matters or otherwise, failure of an acquisition or acquired company
to achieve its plans or objectives generally, unexpected
difficulties in integrating acquired businesses, the ability to
retain key employees, unfavorable economic and market conditions,
the results of asset impairment assessments, the ability to
maintain an effective system of internal control over financial
reporting, the ability to remediate any material weaknesses in
internal control over financial reporting and any other risk
factors that are identified herein. You are cautioned to
not place undue reliance on these forward-looking
statements. In addition to the factors described in this
paragraph, the risk factors identified in our Form 10-K and other
filings the Company may make with the SEC constitute risks and
uncertainties that may affect the financial performance of the
Company and are incorporated herein by reference. The
Company does not undertake and hereby disclaims any duty to update
any forward-looking statements to reflect subsequent events or
circumstances.
About the Company
We are a customer-centric company that positions itself as a
value-added, trusted partner in developing superior image solutions
through our world-class lighting, graphics, and technology
capabilities. Our core strategy of "Lighting + Graphics +
Technology = Complete Image Solutions" differentiates us from our
competitors.
We are committed to advancing solid-state LED technology to make
affordable, high performance, energy-efficient lighting and custom
graphic products that bring value to our customers. We have a
vast offering of innovative solutions for virtually any lighting or
graphics application. In addition, we provide sophisticated
lighting and energy management control solutions to help customers
manage their energy performance. Further, we provide a full
range of design support, engineering, installation and project
management services to our customers.
We are a vertically integrated U.S.-based manufacturer
concentrating on serving customers in North America and Latin
America. Our major markets include commercial / industrial
lighting, petroleum / convenience store and multi-site retail
(including automobile dealerships, restaurants and national retail
accounts). Headquartered in Cincinnati, Ohio, LSI has
facilities in Ohio, California, Kentucky, New York, North Carolina
and Texas. The Company’s common shares are traded on the
NASDAQ Global Select Market under the symbol LYTS.
For further information, contact John Morgan,
managing director, at (513)815-6773.
Additional note: Today’s news
release, along with past releases from LSI Industries, is available
on the Company’s internet site at www.lsi-industries.com or by
email or fax, by calling the Investor Relations Department at (513)
793-3200.
LSI Industries (NASDAQ:LYTS)
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부터 6월(6) 2024 으로 7월(7) 2024
LSI Industries (NASDAQ:LYTS)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024