STRATTEC SECURITY CORPORATION Appoints Matthew Pauli as Chief Financial Officer Effective November 13, 2024
11 Novembre 2024 - 10:15PM
Business Wire
Dennis Bowe to continue in advisory role to
support transition
STRATTEC SECURITY CORPORATION (Nasdaq: STRT) (“STRATTEC” or
“Company”), a leading provider of smart vehicle power access,
security & authorization solutions for the global automotive
industry, today announced the Board of Directors of STRATTEC has
appointed Matthew Pauli as Senior Vice President, Chief Financial
Officer effective November 13, 2024. He will succeed Dennis Bowe,
who will be continuing with the Company in an advisory role to aid
in the transition.
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The Board of Directors of STRATTEC has
appointed Matthew Pauli as Senior Vice President, Chief Financial
Officer effective November 13, 2024. (Photo: Business Wire)
Jennifer Slater, STRATTEC President and CEO, noted, “We are in
the midst of a transformation that requires deep financial
experience and capabilities related to operational change, data
analytics and information systems. Given the level of experience
essential to execute our transformation, the Company needs
operational financial proficiency with implementing tools and
oversight processes to create the focus and consistency requisite
for achieving more predictable financial outcomes. Dennis has been
great support for me and the organization as we have managed
through the early stages of change, and we are very grateful that
he will continue to support us through this transition.”
She continued, “We are pleased to welcome Matt to the team. He
has a proven track record of building, growing and transforming
businesses. We believe that his ability to implement best practices
and enhance our financial operations, as well as to define and
deliver on key performance metrics, will help us drive cash
generation, improve operational performance and support predictable
commercial growth. His experience directly aligns with the needs of
the organization as we advance our transformation and we expect his
knowledge will add greater depth and dimension to our team as we
work to uncover the underlying earnings potential of the
Company.”
With extensive financial management experience, Mr. Pauli brings
over twenty years of leadership developing and advancing finance
teams, instilling financial discipline in organizations and
delivering value creation. He most recently was Executive Advisor
and Chief Financial Officer of CentroMotion, where he established
forecasting and reporting processes, improved global spend
visibility, led projects to increase working capital velocity and
provided financial leadership to operational footprint, continuous
improvement and business value creation initiatives. Previously,
Mr. Pauli served in progressively challenging finance roles at
Enerpac (NYSE: EPAC), including Corporate Controller/Chief
Accounting Officer as well as Vice President, Finance for the
former Engineered Components & Systems segment. He began his
career at Ernst & Young and earned his Bachelors in Business
Administration - Accounting at the University of
Wisconsin-Whitewater.
About STRATTEC
STRATTEC is a leading global provider of advanced automotive
access, security & authorization and select user interface
solutions. With a history spanning over 110 years, STRATTEC has
consistently been at the forefront of innovation in vehicle
security, transitioning from mechanical to integrated
electro-mechanical systems. The Company serves a broad range of
customers, including leading automotive OEMs, offering power access
solutions and advanced security systems that include door handles,
lift gates, latches, and key fobs.
For more information on STRATTEC and its solutions, visit
www.strattec.com.
Safe Harbor Statement
Certain statements contained in this release contain
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements may be
identified by the use of forward-looking words or phrases such as
“anticipate,” “believe,” “could,” “expect,” “intend,” “may,”
“planned,” “potential,” “should,” “will,” and “would” and include
all statements with regard to the Company’s transformation,
expectations of predictability and improved operational
performance, cash generation and underlying earnings potential.
Such forward-looking statements are inherently subject to many
uncertainties in the Company’s operations and business environment.
These uncertainties include general economic conditions, in
particular, relating to the automotive industry, consumer demand
for the Company’s and its customers’ products, competitive and
technological developments, customer purchasing actions, changes in
warranty provisions and customer product recall policies, work
stoppages at the Company or at the location of its key customers as
a result of labor disputes, foreign currency fluctuations,
uncertainties stemming from U.S. trade policies, tariffs and
reactions to same from foreign countries, the volume and scope of
product returns, adverse business and operational issues resulting
from the continuing effects of the coronavirus (COVID-19) pandemic,
matters adversely impacting the timing and availability of
component parts and raw materials needed for the production of our
products and the products of our customers and fluctuations in our
costs of operation (including fluctuations in the cost of raw
materials). Shareholders, potential investors and other readers are
urged to consider these factors carefully in evaluating the
forward-looking statements and are cautioned not to place undue
reliance on such forward-looking statements. The forward-looking
statements made herein are only made as of the date of this press
release and the Company undertakes no obligation to publicly update
such forward-looking statements to reflect subsequent events or
circumstances occurring after the date of this release. In
addition, such uncertainties and other operational matters are
discussed further in the Company’s quarterly and annual filings
with the Securities and Exchange Commission.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241111337953/en/
Investors: Deborah K. Pawlowski Alliance Advisors IR
Phone: 716-843-3908 Email: dpawlowski@allianceadvisors.com
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