SEGUIN, Texas, Dec. 16, 2016 /PRNewswire/ -- Alamo Group Inc.
(NYSE: ALG) today announced that, as previously indicated,
Helen W. Cornell will depart from
the Board of Directors effective December
16, 2016. Concurrent with Ms. Cornell's departure,
Alamo Group has reduced the size of its Board from eight to seven
members.
Ms. Cornell has been a director since 2011. She has
contributed significantly to Alamo's success during this period in which
the Company has undergone significant growth.
As previously announced, Tracy C.
Jokinen, Chief Financial Officer of G&K Services
(NASDAQ: GK) was appointed to Alamo's Board in August in anticipation of the
departure of Ms. Cornell.
Gary Martin, Alamo Group's
Chairman of the Board said, "We will certainly miss Helen.
She has been a great director who always provided an independent
perspective, challenged the Company to move forward and set a tone
of accountability and integrity. She has also been a good
friend and a pleasure to serve with. Her absence will be felt
and we wish her all the best."
"We are pleased that Tracy had the opportunity to overlap for
several meetings with Helen as that has helped with her transition
onto Alamo's Board. She is
already demonstrating her ability to contribute to the Company's
ongoing development."
Helen offered the following comments: "It has been a pleasure to
be part of the growth story of Alamo Group. Although I will miss
the opportunity to work with the directors and management team, I
know that we have assembled a strong group to guide the governance
of this great company going forward."
Alamo Group is a leader in the design, manufacture, distribution
and service of high quality equipment for infrastructure
maintenance, agriculture and other applications. Our products
include truck and tractor mounted mowing and other vegetation
maintenance equipment, street sweepers, snow removal equipment,
excavators, vacuum trucks, other industrial equipment, agricultural
implements and related after-market parts and services. The
Company, founded in 1969, has approximately 3,000 employees and
operates 24 plants in North
America, Europe,
Australia and Brazil as of September
30, 2016. The corporate offices of Alamo Group Inc.
are located in Seguin, Texas and
the headquarters for the Company's European operations are located
in Salford Priors, England.
This release contains forward-looking statements that are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve known and unknown risks and uncertainties, which
may cause the Company's actual results in future periods to differ
materially from forecasted results. Among those factors which could
cause actual results to differ materially are the following: market
demand, competition, weather, seasonality, currency-related issues,
and other risk factors listed from time to time in the Company's
SEC reports. The Company does not undertake any obligation to
update the information contained herein, which speaks only as of
this date.
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SOURCE Alamo Group Inc.