ELKHART, Ind., Nov. 2, 2020 /PRNewswire/ -- Thor
Industries, Inc. (NYSE: THO) today announced that William J. Kelley Jr. has been named to the
Board of Directors of Thor Industries effective November 1, 2020. Kelley has more than 30 years
of executive-level experience in the food and beverage industry. He
will serve as a member of the Compensation and Development
Committee and the Audit Committee of the Board. The addition of
Kelley expands Thor Industries' Board of Directors from 9 to 10
members.
"I am pleased to welcome Bill to our Board of Directors given
his proven track record of strategic value creation through his
strong financial management expertise," said Andrew E. Graves, Chairman of the Board of Thor
Industries. "Bill brings a fresh perspective to Thor's Board, and
we anticipate that his extensive fiscal and enterprise risk
management experience overseeing finance, accounting and controls
at the leadership level for Fortune 500 companies will serve us
well. Bill's knowledge will fortify Thor Industries' as a
leader in transformation and change initiatives across the
enterprise. His appointment is further demonstration of the
significant value we place upon corporate governance, risk
oversight, board refreshment and diversity."
Mr. Kelley currently serves as Executive Vice President and
Chief Financial Officer of TreeHouse Foods, Inc. (NYSE: THS), a
leading manufacturer and distributor of private label packaged
foods and beverages in North
America with nearly 40 production facilities across
the United States, Canada and Italy. At TreeHouse Foods, Mr. Kelley advises
the Chief Executive Officer and other senior leaders on major
financial and strategic growth issues. He also manages the
company's financial, business-planning, treasury, and information
technology functions as well as investor relations and corporate
development.
"Bill is a strong addition to our Board and has vast experience
and success as a financial business leader. We will benefit greatly
from his expertise and council as Thor continues to create superior
quality products and enhance our sustainability efforts that will
grow our business," said Bob Martin,
President and CEO of Thor Industries.
Before joining TreeHouse, Mr. Kelley was with The Kraft Heinz
Company from 2014-2016 as Head of Global Internal Audit. From
2012-2014, Mr. Kelley was with The Hillshire Brands Company, as
Senior Vice President, Corporate Controller and Chief Accounting
Officer. Mr. Kelley's earlier career service included key finance
and accounting roles at Arthur Andersen and Cargill, Inc.
Mr. Kelley holds a Bachelor of Arts degree in Accounting from
Clark-Atlanta University and an MBA
from the University of Chicago Booth
School of Business. Kelley is a Certified Public Accountant,
Certified Internal Auditor and Certified Information Systems
Auditor. He started his career as an accountant with a Chicago subsidiary of Cargill, Inc. and later
joined Arthur Andersen LLP.
Mr. Kelley serves on two non-profit boards in the Chicago area. He is active at Chicago
Youth Centers, serving as a Board Member, Member of the Investment
Committee, and former Treasurer and Chair of the Finance Committee.
He also dedicates his time to the Chicago Children's Museum as a
Board Member, Vice Chair of the Finance Committee and former
Co-Chair of the Annual Gala.
About Thor Industries, Inc.
Thor is the sole owner of
operating subsidiaries that, combined, represent the world's
largest manufacturer of recreational vehicles. For more information
on the Company and its products, please go to
www.thorindustries.com.
Forward-Looking Statements
This release includes
certain statements that are "forward-looking" statements within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements are made based on management's
current expectations and beliefs regarding future and anticipated
developments and their effects upon Thor, and inherently involve
uncertainties and risks. These forward-looking statements are not a
guarantee of future performance. We cannot assure you that actual
results will not differ materially from our expectations. Factors
which could cause materially different results include, among
others: the extent and impact from the continuation of the
coronavirus pandemic, along with the responses to contain the
spread of the virus by various governmental entities or other
actors, which may have negative effects on retail customer demand,
our independent dealers, our supply chain, or our production and
which may have a negative impact on our consolidated results of
operations, financial position, cash flows and liquidity; the
ability to ramp production up or down quickly in response to rapid
changes in demand while also managing costs and market share; the
effect of raw material and commodity price fluctuations, and/or raw
material, commodity or chassis supply restrictions; the impact of
tariffs on material or other input costs; the level and magnitude
of warranty claims incurred; legislative, regulatory and tax law
and/or policy developments including their potential impact on our
dealers and their retail customers or on our suppliers; the costs
of compliance with governmental regulation; legal and compliance
issues including those that may arise in conjunction with recently
completed transactions; lower consumer confidence and the level of
discretionary consumer spending; interest rate fluctuations and
their potential impact on the general economy and specifically on
our dealers and consumers; the impact of exchange rate
fluctuations; restrictive lending practices which could negatively
impact our independent dealers and/or retail consumers; management
changes; the success of new and existing products and services; the
ability to efficiently utilize existing production facilities;
changes in consumer preferences; the risks associated with
acquisitions, including: the pace and successful closing of an
acquisition, the integration and financial impact thereof, the
level of achievement of anticipated operating synergies from
acquisitions, the potential for unknown or understated liabilities
related to acquisitions, the potential loss of existing customers
of acquisitions, and our ability to retain key management personnel
of acquired companies; a shortage of necessary personnel for
production and increasing labor costs to attract production
personnel in times of high demand; the loss or reduction of sales
to key dealers; disruption of the delivery of units to dealers;
increasing costs for freight and transportation; asset impairment
charges; cost structure changes; competition; the impact of
potential losses under repurchase or financed receivable
agreements; the potential impact of the strength of the U.S. dollar
on international demand for products priced in U.S. dollars;
general economic, market and political conditions in the various
countries in which our products are produced and/or sold; the
impact of changing emissions and other regulatory standards in the
various jurisdictions in which our products are produced and/or
sold; changes to our investment and capital allocation strategies
or other facets of our strategic plan; and changes in market
liquidity conditions, credit ratings and other factors that may
impact our access to future funding and the cost of debt.
These and other risks and uncertainties are discussed more fully
in Item 1A of our Annual Report on Form 10-K for the year ended
July 31, 2020.
We disclaim any obligation or undertaking to disseminate any
updates or revisions to any forward-looking statements contained in
this release or to reflect any change in our expectations after the
date hereof or any change in events, conditions or circumstances on
which any statement is based, except as required by law.
Contact
Investor Relations:
Mark Trinske, Vice President of
Investor Relations
mtrinske@thorindustries.com
(574) 970-7912
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SOURCE Thor Industries, Inc.