American Vanguard Announces CEO’s Intent to Retire
08 Luglio 2024 - 2:00PM
Business Wire
Search for Successor Underway
American Vanguard Corporation (NYSE:AVD) today reported that its
Chairman and Chief Executive Officer, Eric G. Wintemute, has
presented to the board his plan to retire from his position as CEO.
The terms of his retirement are set forth in a Transition Agreement
under which Mr. Wintemute will participate in the search for his
successor being conducted by the global executive search firm,
Kincannon & Reed, and retire upon the successor’s appointment
but no later than December 31, 2024. Mr. Wintemute will continue to
serve as Chairman of the Board and, post-retirement, will provide
consulting services to the company on a part-time basis. Mr.
Wintemute joined the company 47 years ago and has served as CEO for
30 years.
Mr. Wintemute stated, “Over the past four decades, I have poured
myself into building, nurturing and growing this business. Indeed,
over that time, American Vanguard has become the business of my
life. What began as a small formulation facility in Southern
California with revenues of $1.5 million has, through over 70
acquisitions of branded products and companies, grown to become an
NYSE-traded, global enterprise with revenues of $600 million
dollars, six North American factories and operations in 21
countries. I know how it all began, how it all fits together and
who has helped to move this operation forward each step of the way.
I am proud of what we have been able to accomplish.”
He continued, “We are currently deep in the process of
transformation, both digital and operational, with the goal to
maximize EBITDA and hence valuation. In the interest of allowing
American Vanguard to become a better version of itself, I will hand
the reins to a well-qualified successor to build upon what we have
done well, to change what can be strengthened, and to help usher in
a new generation to lead this business. To those colleagues who
will carry on after me and to all who have worked with me in the
past, I want you to know that you have been my inspiration, my
motivation and the reason for my many years of dedication. I thank
you sincerely for your service.”
“On behalf of the American Vanguard board of directors, I’d like
to express my gratitude to Mr. Eric G. Wintemute for serving with
such energy and passion as our CEO for more than 30 years,” said
Scott D. Baskin, lead director of the board. “As Eric’s tenure
comes to a close, we acknowledge his steadfast contributions and
thank him for his years of service. Mr. Wintemute successfully led
the growth of this organization over those 30 years, and due to his
vision and guidance, American Vanguard has become a multi-faceted,
global platform, serving hundreds of companies around the world.”
Mr. Baskin closed by stating, “We are deeply indebted to Eric for
his great dedication and contributions to the company and wish him
well in the next chapters of his life.”
About American Vanguard American Vanguard Corporation is
a diversified specialty and agricultural products company that
develops and markets products for crop protection and management,
turf and ornamentals management and public and animal health. Over
the past 20 years, through product and business acquisitions, the
Company has expanded its operations into 21 countries and now has
over 1,000 product registrations in 56 nations worldwide. Its
strategy rests on three growth initiatives – i) Core Business
(through innovation of conventional products), ii) Green Solutions
(with over 120 biorational products – including fertilizers,
microbials, nutritionals and non-conventional products) and iii)
Precision Agriculture innovation (including SIMPAS prescriptive
application and Ultimus measure/record/verify technologies).
American Vanguard is included on the Russell 2000® and Russell
3000® Indexes. To learn more about American Vanguard, please
reference the Company’s web site at www.american-vanguard.com.
The Company, from time to time, may discuss forward-looking
information. Except for the historical information contained in
this release, all forward-looking statements are estimates by the
Company’s management and are subject to various risks and
uncertainties that may cause results to differ from management’s
current expectations. Such factors include weather conditions,
changes in regulatory policy and other risks as detailed from
time-to-time in the Company’s SEC reports and filings. All
forward-looking statements, if any, in this release represent the
Company’s judgment as of the date of this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240708387864/en/
American Vanguard Corporation Anthony Young, Director of
Investor Relations (949) 260-1200 anthonyy@amvac.com
Investor Representative: The Equity Group Inc.
www.theequitygroup.com Lena Cati Lcati@equityny.com
Grafico Azioni American Vanguard (NYSE:AVD)
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Da Dic 2024 a Gen 2025
Grafico Azioni American Vanguard (NYSE:AVD)
Storico
Da Gen 2024 a Gen 2025