Lindsay Corporation Names Timothy Hassinger as New Chief Executive Officer and President
July 18 2017 - 6:30AM
Business Wire
Today Lindsay Corporation (NYSE: LNN) announced the appointment
of Timothy Hassinger as president and chief executive officer (CEO)
and a member of its board of directors, effective October 16, 2017.
Hassinger will succeed President and CEO Rick Parod, who previously
announced he is retiring later this year after 17 years of service
to the company.
“The board unanimously agrees that Tim is the right choice to
lead this great company into the future,” said Michael C. Nahl,
Lindsay's Chairman of the Board. “He brings global business
experience with an exceptional track record of business leadership
and creating profitable growth. This, combined with his people and
customer focused operating style, has fueled his ability to exceed
customer expectations and consistently deliver strong financial
results.”
Hassinger, 55, currently serves as President and CEO of Dow
AgroSciences, headquartered in Indianapolis, Indiana. Dow
AgroSciences, a subsidiary of The Dow Chemical Company, is a leader
in seeds and crop protection chemicals with more than $6 billion of
sales in 120 countries and 8,000 employees.
“I look forward to working with the board and management team at
Lindsay to build on the strong Lindsay brand and innovative
products to provide new solutions to customers around the world,”
said Hassinger.
A 33-year veteran of Dow AgroSciences, Hassinger has held a
series of senior leadership positions throughout his career across
a variety of the company’s domestic and international business
units. Prior to becoming President and CEO of Dow AgroSciences in
2014, he served as the company’s Global Commercial Leader and Vice
President for the Crop Protection Global Business Unit. Previously
he served as Vice President for the Dow AgroSciences business in
the Europe, Latin America, and Pacific regions. In 2005 he moved to
Shanghai, China where he served as Regional Commercial Unit Leader
for Greater China. From 1984 to 2005 he proceeded to hold a variety
of commercial and supply chain positions of increasing
responsibility.
Hassinger received his Bachelor of Science degree in
Agricultural Economics from the University of Illinois and grew up
on a family farm in Central Illinois. He is also active in a number
of industry associations, as well as civic and charitable
causes.
Nahl concluded, “On behalf of our shareholders, board and
executive team, I want to thank Rick Parod for his many
contributions over the past 17 years. Under his leadership, Lindsay
has grown from a single plant generating approximately $100 million
in revenues to an international leader in irrigation solutions,
water management and infrastructure products with revenues of over
$500 million. During his tenure he and his talented management team
have invested in organic growth opportunities, completed a number
of accretive and synergistic acquisitions and created over $1
billion in shareholder value as measured by share price
appreciation, share buybacks and dividends. His contributions leave
the company well positioned for continued future success.”
About the Company
Lindsay manufactures and markets irrigation equipment primarily
used in agricultural markets which increase or stabilize crop
production while conserving water, energy, and labor. The Company
also manufactures and markets infrastructure and road safety
products under the Lindsay Transportation Solutions trade name. At
May 31, 2017, Lindsay had approximately 10.7 million shares
outstanding, which are traded on the New York Stock Exchange under
the symbol LNN.
For more information regarding Lindsay Corporation, see the
Company's Website at www.lindsay.com.
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Lindsay Corporation:Brian Ketcham, 402-827-6579Vice
President & Chief Financial OfficerorHalliburton Investor
Relations:Hala Elsherbini, 972-458-8000
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