ELKHART, Ind., Dec. 1, 2021 /PRNewswire/ -- THOR Industries,
Inc. (NYSE: THO) is pleased to announce the promotion of
Todd Woelfer to SVP & Chief
Operating Officer. Mr. Woelfer joined THOR in 2012 and has served
in a number of roles during his time with the Company including
General Counsel. As COO, Mr. Woelfer will lead a number of
corporate initiatives including THOR's innovation and data
strategies, marketing, corporate sustainability and responsibility
(ESG), maximizing performance and synergies from existing and
future acquisitions, and will lead corporate strategic
initiatives.
"Todd has been our General Counsel but for years he has been
instrumental in our enterprise operations, including in key areas
such as our M & A activity, innovation, and a number of other
key initiatives that drive our global strategy. From the time he
started with us, his passion for our growth strategy created a
broad range of responsibilities. The number of strategic mission
critical items that we manage at corporate have grown tremendously
since 2012, when our current management team started together, and
our consolidated net revenue was a little over $2 billion, to fiscal 2021 when our net revenue
was over $12 billion. When we
considered our future strategic journey over the next 5 to 10
years, our management team realized we needed a key manager
dedicated to these crucial initiatives. Todd was quickly identified
as the right leader for this important role. While he understands
the importance of our strategic initiatives and is often a key
leader in developing them, he also understands the strategic value
of THOR's highly decentralized business model, the crucial
importance of our dealer relations, and our focus on the retail
customer experience. In many ways, this is an announcement and
acknowledgement of a role that Todd has grown into at THOR,"
explained Bob Martin, President and
Chief Executive Officer at THOR.
"This is an exciting opportunity for me at an incredibly
important time for our Company. I'm a firm believer in THOR's
decentralized business model that has proven to be the not so
secret sauce to our success. That will never change. Our management
teams and hard-working team members at our operating companies are
the key to our success. It's a time of significant disruption and
transformation in many industries and in the RV Industry in
particular. This presents incredible opportunity for THOR. As we
focus on delivering our industry leading products to our dealers
and retail customers, we have to think today about how we continue
to lead in the future. That is what this role is all about. My
acceptance of this role was based in large part on my knowledge
that Bob will continue to lead our Company throughout the remainder
of my career. His visionary leadership is what has transformed this
Company into an international market leader. I very much look
forward to years of continued success and growth with our
leadership team led by Bob and including both Colleen (Zuhl, Chief
Financial Officer), and Ken (Julian, SVP Administration / HR),"
added Woelfer.
Simultaneously, the Company announced the promotion of
Trevor Gasper to Vice President,
General Counsel, and Secretary. Gasper joined the Company in 2017
after 12 years at a private firm where his practice focused on
representing RV manufacturers, including THOR.
"Trevor has established himself as a key leader for our legal
team as well as the Corporate management team. He has also served
in a lead role in all major M&A transactions since joining
THOR. Trevor understands the challenges of balancing the
deliverables of a legal team with our business needs and is a great
steward of our brand and reputation." Offered Woelfer in announcing
the promotion. "THOR's legal team strives to be a value-add to our
business. Under Trevor's leadership, I'm very confident in the
team's continued ability to deliver value throughout the
organization."
About THOR Industries, Inc.
THOR Industries 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 COVID-19 pandemic, along with
the responses to contain the spread of the virus, or its variants,
by various governmental entities or other actors, which may have
negative effects on retail customer demand, our independent
dealers, our supply chain, our labor force, our production or other
aspects of our business; 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 constraints; the dependence on a small group of suppliers
for certain components used in production; the level and magnitude
of warranty and recall claims incurred; the ability of our
suppliers to financially support any defects in their products;
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; public perception of and the costs related
to environmental, social and governance matters; 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 maintain strong brands and develop
innovative products that meet consumer demands; 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; competition; the impact
of potential losses under repurchase 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 related climate change regulations in the various
jurisdictions in which our products are produced, used 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, 2021.
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
Mark Trinske, Vice President of
Investor Relations
mtrinske@thorindustries.com
(574) 970-7912
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SOURCE THOR Industries, Inc.