Snap-on Incorporated Appoints David C. Adams to Board of Directors
June 09 2016 - 4:05PM
Business Wire
Snap-on Incorporated (NYSE: SNA) today announced that its board
of directors has appointed David C. Adams as a director, effective
June 9, 2016.
Mr. Adams, age 62, has served as chairman and chief executive
officer of Curtiss-Wright Corporation (“Curtiss-Wright”), a global
provider of highly engineered, critical function products and
services to the commercial, industrial, defense and energy
markets, since January 2015. Prior to this, he served as
president and chief executive officer from 2013. He served as
president and chief operating officer from 2012; co-chief operating
officer from 2008; and president of its former Curtiss-Wright
Controls segment from 2005. He has been a director of
Curtiss-Wright since August 2013.
"Snap-on is pleased to welcome David Adams to our board of
directors," said Henry W. Knueppel, Snap-on director and chair of
the corporate governance and nominating committee. "David’s
extensive experience in a wide range of industrial markets will be
a significant asset to Snap-on. We look forward to him being a
valuable member of our team."
Snap-on believes Mr. Adams meets the independence requirements
of the New York Stock Exchange. The size of the board of directors
was increased to ten members in connection with his appointment. In
accordance with Snap-on’s bylaws, Mr. Adams will serve for a term
expiring at the 2017 Annual Meeting of Shareholders and will be
subject to annual election thereafter.
About Snap-on
Snap-on Incorporated is a leading global innovator, manufacturer
and marketer of tools, equipment, diagnostics, repair information
and systems solutions for professional users performing critical
tasks. Products and services include hand and power tools, tool
storage, diagnostics software, information management systems, shop
equipment and other solutions for vehicle dealerships and repair
centers, as well as for customers in industries, including aviation
and aerospace, agriculture, construction, government and military,
mining, natural resources, power generation and technical
education. Snap-on also derives income from various financing
programs to facilitate the sales of its products. Products and
services are sold through the company’s franchisee, company-direct,
distributor and internet channels. Founded in 1920, Snap-on is a
$3.4 billion, S&P 500 company headquartered in Kenosha,
Wisconsin.
Forward-looking
Statements
Statements in this news release that are not historical facts,
including statements that (i) are in the future tense; (ii) include
the words “expects,” “anticipates,” “intends,” “approximates,” or
similar words that reference Snap-on or its management; (iii) are
specifically identified as forward-looking; or (iv) describe
Snap-on’s or management’s future outlook, plans, estimates,
objectives or goals, are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Snap-on cautions the reader that this news release may contain
statements, including earnings projections, that are
forward-looking in nature and were developed by management in good
faith and, accordingly, are subject to risks and uncertainties
regarding Snap-on’s expected results that could cause (and in some
cases have caused) actual results to differ materially from those
described or contemplated in any forward-looking statement. Factors
that may cause the company’s actual results to differ materially
from those contained in the forward-looking statements include
those found in the company’s reports filed with the Securities and
Exchange Commission, including the information under the “Safe
Harbor” and “Risk Factors” headings in its Annual Report on Form
10-K for the fiscal year ended January 2, 2016, which are
incorporated herein by reference. Snap-on disclaims any
responsibility to update any forward-looking statement provided in
this news release, except as required by law.
For additional information, please visit www.snapon.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160609006393/en/
Snap-on IncorporatedInvestors:Leslie
Kratcoski262/656-6121orMedia:Richard Secor262/656-5561
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