Gorman-Rupp Announces Chief Financial Officer Succession Plan
07 July 2016 - 6:15AM
Business Wire
The Gorman-Rupp Company (NYSE MKT: GRC) announces that Wayne L.
Knabel, Executive Vice President and Chief Financial Officer, has
informed the Company of his decision to retire from the Company
effective March 31, 2017. In connection with his retirement, Mr.
Knabel plans to step down from his executive officer positions of
Executive Vice President and Chief Financial Officer effective
December 31, 2016. Mr. Knabel will remain employed with the Company
as a succession planning and strategic planning advisor to the
Chief Executive Officer and President, the succeeding Chief
Financial Officer and the Board of Directors until his planned
retirement date.
The Company announces that effective July 18, 2016, in
coordination with Mr. Knabel’s retirement plan described above, Mr.
James Kerr will join the Company as Vice President of Finance, and
that effective January 1, 2017, the Company plans to appoint Mr.
Kerr as Chief Financial Officer, an executive officer position.
Prior to joining the Company, Mr. Kerr, age 54, most recently
served as Executive Vice President and Chief Financial Officer of
Jo-Ann Stores, Inc., a formerly publicly-held retail chain of
residential consumer products in excess of $2 billion. Mr. Kerr was
with Jo-Ann Stores, Inc. for the last 17 years where he previously
held the position of Vice President and Controller until 2006. In
2011, Jo-Ann Stores, Inc. was acquired by an investment firm,
Leonard Green & Partners. Mr. Kerr also served from August 2014
to March 2015 as interim Chief Executive Officer in addition to his
Chief Financial Officer position.
Brigette A. BurnellCorporate SecretaryThe Gorman-Rupp
CompanyTelephone (419) 755-1246NYSE MKT: GRC
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160706006292/en/
The Gorman-Rupp CompanyWayne L. Knabel, Chief Financial Officer,
419-755-1397
Gorman Rupp (NYSE:GRC)
Historical Stock Chart
From Apr 2024 to May 2024
Gorman Rupp (NYSE:GRC)
Historical Stock Chart
From May 2023 to May 2024