THOR Industries Announces Retirement of Director Jim Ziemer
09 9월 2022 - 7:30PM
THOR Industries, Inc. (NYSE: THO) today announced the retirement of
Jim Ziemer from its Board of Directors, effective October 1, 2022.
Mr. Ziemer will continue to act as an observer to the Board through
the end of calendar year 2022 following his retirement. Mr.
Ziemer’s retirement is consistent with THOR’s Board of Directors
refreshment plans, and, as the company added two new directors last
year ahead of this planned retirement, no additional new directors
are planned at this time.
Mr. Ziemer dedicated the bulk of his
professional career to Harley-Davidson. He started with
Harley-Davidson as a freight elevator operator in 1969 while in
college and joined the company’s accounting department upon
graduation from college. He became Harley-Davidson’s Chief
Financial Officer in 1990 and served as Harley-Davidson’s Chief
Executive Officer from 2005 through 2009. Mr. Ziemer joined THOR’s
Board of Directors in 2010, where he served as Chairman of the
Company’s Audit Committee from December 2011 to March 2022 and
served on the Company’s Environmental, Social, Governance &
Nominating Committees.
“THOR Industries has been very fortunate to have
Jim serve on our board for the last 12 years,” commented Board
Chairman Andy Graves. “All of us who have worked with Jim on THOR’s
Board of Directors have benefited from his leadership and his
commitment to the Company. His extensive knowledge of the adjacent
powersports industry, manufacturing practices and financial
expertise helped guide the incredible performance THOR has enjoyed
over the last decade. We extend our gratitude and best wishes to
Jim upon his retirement.”
Bob Martin, THOR’s Chief Executive Officer,
said, “For 12 years, Jim has played an instrumental role on our
Board of Directors and has helped guide our Company through periods
of growth unparalleled in the industry. Jim’s leadership and
collaboration on the board will be greatly missed and we are deeply
grateful for the significant contributions he has made.”
About THOR Industries, Inc.
THOR Industries is the sole owner of operating
companies which, 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 impact of
inflation on the cost of our products as well as on general
consumer demand; the effect of raw material and commodity price
fluctuations, and/or raw material, commodity or chassis supply
constraints; the impact of war, military conflict, terrorism and/or
cyber-attacks, including state-sponsored attacks; the impact of
sudden or significant adverse changes in the cost and/or
availability of energy or fuel, including those caused by
geopolitical events, on our costs of operation, on raw material
prices, on our independent dealers or on retail customers; the
impact of sudden or significant adverse changes in the cost and/or
availability of energy or fuel, including those caused by
geopolitical events, on our costs of operation, on raw material
prices, on our independent dealers or on retail customers; the
dependence on a small group of suppliers for certain components
used in production, including chassis; interest rate fluctuations
and their potential impact on the general economy and,
specifically, on our profitability and on our independent dealers
and consumers; 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 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 independent dealers, retail
customers or on our suppliers; the costs of compliance with
governmental regulation; the impact of an adverse outcome or
conclusion related to current or future litigation or regulatory
investigations; the impact of an adverse outcome or conclusion
related to current or future litigation or regulatory
investigations; 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; 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 independent dealers; disruption of the delivery of
units to independent 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 our Quarterly Report on Form 10-Q for the
quarter ended April 30, 2022 and in Item 1A of our Annual Report on
Form 10-K for the year ended July 31, 2021.
Contacts:
Michael Cieslak, CFAInvestor Relations
Managermcieslak@thorindustries.com(574) 294-7724
Thor Industries (NYSE:THO)
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