BELOIT, Wis., Nov. 6, 2017 /PRNewswire/ -- Regal Beloit
Corporation (NYSE: RBC) announced today that Charles A. (Chuck) Hinrichs, Vice President and
Chief Financial Officer, will retire on March 31, 2018. Mr. Hinrichs has served as
Regal's Chief Financial Officer since September 2010.
The Company also announced that its Board of Directors appointed
Robert J. (Rob) Rehard as the new
Vice President and Chief Financial Officer, effective April 1, 2018. Mr. Rehard, 49, joined Regal in
January 2015 as Vice President,
Corporate Controller and Principal Accounting Officer. In
January 2017, Mr. Rehard was
appointed Vice President, Financial Planning & Analysis with
responsibility for Regal's global finance organization.
Over the last 20 years Mr. Rehard has held leadership roles in
the areas of operations accounting, corporate accounting and
financial planning & analysis. Prior to joining Regal, he
served in various roles of increasing responsibility with Eaton
Corporation, Cooper Industries, Masco Corporation, Emerson Electric
and Deloitte & Touche. Mr. Rehard holds an MBA from
Eastern Michigan University and a
Bachelor of Science in Accounting from Chapman University.
Mr. Rehard is a veteran of the U.S. Navy having served from 1987 to
1991 and is a former Navy SEAL.
"I want to publicly recognize and thank Chuck Hinrichs for all his contributions as CFO
of Regal over the last seven years," said Regal Chairman and CEO
Mark Gliebe. "Chuck's
experience and leadership have been a real value to me personally
and have contributed to Regal's performance for our
stakeholders."
"Chuck and Rob have worked very closely during the past year
as part of our planned transition, and I have every confidence in
Rob in his new role as CFO. Rob has a strong financial
background, a comprehensive understanding of Regal's operations, a
process orientation and a proven track record at Regal. Rob
challenges thinking and encourages innovation through a culture of
continuous improvement. We look forward to benefiting from
his experience and leadership skills as we execute on our strategy
to increase organic sales, improve operating profit and generate
superior free cash flow," continued Mr. Gliebe.
About the Company
Regal Beloit Corporation (NYSE: RBC) is a leading manufacturer
of electric motors, electrical motion controls, power generation
and power transmission products serving markets throughout the
world. The company is comprised of three business
segments: Commercial and Industrial Systems, Climate Solutions
and Power Transmission Solutions. Regal is headquartered in
Beloit, Wisconsin, and has
manufacturing, sales and service facilities throughout the United States, Canada, Mexico, Europe and Asia. For more information,
visit RegalBeloit.com
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SOURCE Regal Beloit Corporation