SAN
DIEGO, July 6, 2022 /PRNewswire/ -- WD-40 Company
(NASDAQ: WDFC), a global marketing organization dedicated to
creating positive lasting memories by developing and selling
products that solve problems in workshops, factories and homes
around the world, announced today that it will appoint Sara Hyzer as vice president, finance,
treasurer and chief financial officer. Ms. Hyzer will assume the
role from the Company's current chief financial officer,
Jay Rembolt, who announced his
planned retirement in late 2020.
Ms. Hyzer currently serves as vice president, global finance
strategy at WD-40 Company and will undertake duties as chief
financial officer on November 1,
2022, which is after the filing of WD-40 Company's 2022
annual report. To ensure a smooth transition into her new role, Ms.
Hyzer will work closely with Mr. Rembolt, who will serve as a
strategic advisor to the Company until January 6, 2023. Ms. Hyzer will report to the
Company's chief executive officer and will oversee WD-40 Company's
financial operations, including the management of accounting,
external reporting, tax, treasury, financial planning and analysis,
and internal audit.
"After a rigorous global search process, which included the
evaluation of both internal and external candidates, I'm excited to
welcome Sara into her new leadership position," said Garry Ridge, WD-40 Company's chairman and chief
executive officer. "Sara joined our Company in 2021 and has worked
alongside the global finance and accounting team as a financial
strategist for the last year. Her financial expertise and growth
mindset are an excellent fit for our Company and its culture. Sara
will provide strong financial leadership for the Company in its
next phase of growth," remarked Ridge.
"I would also like to take this opportunity to thank Jay for his
significant contributions to the Company," continued Ridge. "Jay
has been our chief financial officer since 2008 and has been a
leader and mentor for all his colleagues. His impact on our Company
has been immeasurable. On behalf of all our employees and our board
of directors, we wish him an incredibly happy, healthy, and
well-deserved retirement."
Prior to joining WD-40 Company, Ms. Hyzer spent over 20 years at
PricewaterhouseCoopers LLP, with the last six years serving as an
audit partner for both publicly traded and privately held companies
in various industries, including consumer products and life
sciences. Ms. Hyzer holds a Bachelor of Science in Accounting from
Colorado State University. She is a
Certified Public Accountant in the state of California and is a member of the American
Institute of Certified Public Accountants.
About WD-40 Company
WD-40 Company is a global
marketing organization dedicated to creating positive lasting
memories by developing and selling products that solve problems in
workshops, factories and homes around the world. The Company owns a
wide range of well-known brands that include maintenance products
and homecare and cleaning products: WD-40® Multi-Use Product, WD-40
Specialist®, 3-IN-ONE®, GT85®, 2000 Flushes®, no vac®, 1001®, Spot
Shot®, Lava®, Solvol®, X-14®, and Carpet Fresh®.
Headquartered in San Diego,
WD-40 Company recorded net sales of $488.1
million in fiscal year 2021 and its products are currently
available in more than 176 countries and territories worldwide.
WD-40 Company is traded on the NASDAQ Global Select market under
the ticker symbol "WDFC." For additional information about WD-40
Company please visit http://www.wd40company.com.
Forward-Looking Statements
Except for the
historical information contained herein, this press release
contains "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Our
forward-looking statements are generally identified with words such
as "believe," "expect," "intend," "plan," "could," "may," "aim,"
"anticipate," "target," "estimate" and similar expressions. These
forward-looking statements are subject to certain risks,
uncertainties and assumptions that could cause actual events or
results to differ materially from those anticipated in or implied
by the forward-looking statements.
Our forward-looking statements include, but are not limited to,
statements regarding changes to our executive and board leadership
and composition of our board of directors; expectations about
future financial and operating results, including: growth and
success of the Company and its products; plans for and success of
the Company's execution of leadership succession; the impact of
regulatory action; the length and severity of the current COVID-19
pandemic and its impact on the global economy and the Company's
financial results; changes in the political conditions or relations
between the United States and
other nations; the impacts from inflationary trends and supply
chain constraints; and forecasted foreign currency exchange rates
and commodity prices.
The Company's expectations, beliefs and forecasts are expressed
in good faith and are believed by the Company to have a reasonable
basis, but there can be no assurance that the Company's
expectations, beliefs or forecasts will be achieved or
accomplished.
Actual events or results may differ materially from those
projected in forward-looking statements due to various factors,
including, but not limited to, those identified in Part I―Item 1A,
"Risk Factors," in the Company's Annual Report on Form 10-K for the
fiscal year ended August 31, 2021
which the Company filed with the SEC on October 22, 2021, and in the Company's Quarterly
Report on Form 10-Q for the period ended February 28, 2022 which the Company filed with
the SEC on April 7, 2022.
All forward-looking statements included in this press release
should be considered in the context of these risks. All
forward-looking statements speak only as of the date of this press
release, and we undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Investors and prospective investors are
cautioned not to place undue reliance on our forward-looking
statements.
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SOURCE WD-40 Company