GLEN ALLEN,
Va., Sept. 24, 2024 /PRNewswire/ -- The
Hamilton Beach Brands Holding Company (NYSE: HBB) (the
"Company) Board of Directors announced today that Gregory H. Trepp, Chief Executive Officer (CEO),
will retire from the Company on December 31,
2024. In order to facilitate a long-standing succession
plan, Mr. Trepp will step down from his current position and from
the Board of Directors, effective September
30, 2024. R. Scott Tidey,
currently President of the Company, will succeed Mr. Trepp and
become President and CEO and a member of the Board of Directors,
effective October 1, 2024. Mr. Trepp
will serve in the role of Advisor to the CEO until his retirement
in support of a smooth transition.
Alfred M. Rankin,
Jr., Chairman of the Board, said, "Today's announcement
represents the culmination of a long-standing management succession
plan. Scott has a proven record of executive leadership and
successful execution against strategic priorities, developed over
his 31 years with the Company. Scott's in-depth knowledge of our
business, strategy, and people makes him the clear choice to
succeed Greg. On behalf of the Board, I thank Greg for his
leadership over 28 years with the Company, especially as President
and CEO. Greg has built an outstanding global team that includes
experienced management, talented employees, and a Good Thinking
culture focused on innovation. Scott and the team are well
positioned to build upon the Company's many successes. These
include sales and market share growth of the core Hamilton Beach
and Proctor Silex brands, an increasing share of the premium
market, a growing presence in the global commercial market,
progress in the ecommerce channel, and the creation of a growing
global home healthcare solutions business," said Mr. Rankin.
Mr. Trepp said, "Serving as CEO of our Company
has been an honor and a privilege. I have the utmost confidence in
Scott, our senior management team,
our remarkable employees and their ability to build upon what we
have achieved thus far. I congratulate Scott on his well-deserved
promotion and wish everyone all the best. I look forward to
spending more time with my family and pursuing various
interests."
Mr. Tidey said, "I am incredibly honored to be
selected as the next CEO of our Company. I look forward to working
with our highly capable people to continue our progress with our
strategic initiatives to increase revenue, expand margins and
deliver strong cash flow over time. Our Company remains committed
to creating value for shareholders in the years ahead. I thank Greg
and the Board for their trust, confidence and support."
Mr. Tidey was appointed President of the Company
in February 2024. Prior to that, he
had served in successive executive level positions with Hamilton
Beach Brands. Since January 2023, he
had served as Senior Vice President, Global Sales. Before that, he
served as Senior Vice President, Consumer Sales & Marketing
from March 2021 to January 2023, and as Senior Vice President, North
America Sales and Marketing from 2010 to March 2021. Prior to joining the Company in 1993,
Mr. Tidey worked for A.H. Robins. He received a Bachelor of Science
in Business Management from the Virginia
Polytechnic Institute and State University.
Mr. Trepp continued as CEO and a member of the
Board of Directors of the Company following the appointment of Mr.
Tidey as President in February 2024.
Previously, he served as President and CEO of the Company and a
member of the Board of Directors since 2017, and as President and
CEO of Hamilton Beach Brands since 2010. Mr. Trepp joined
Hamilton Beach Brands in 1996 as Director of Marketing and rose
through successive leadership positions.
About Hamilton Beach Brands Holding
Company
Hamilton Beach Brands Holding Company is a leading
designer, marketer, and distributor of a wide range of branded
small electric household and specialty housewares appliances, as
well as commercial products for restaurants, fast food chains,
bars, and hotels. The Company's owned consumer brands include
Hamilton Beach®, Proctor Silex®, Hamilton
Beach Professional®, Weston®, and
TrueAir®. The Company's owned commercial brands include
Hamilton Beach Commercial® and Proctor Silex
Commercial®. Hamilton Beach Brands licenses the brands
for Wolf Gourmet® countertop appliances, CHI®
premium garment care products, Clorox™ True HEPA
air purifiers, and Brita Hub™ countertop electric
water filtration appliances. Hamilton Beach Brands has exclusive
multiyear agreements to design, sell, market, and distribute
Bartesian® premium cocktail delivery machines, and
specialty appliances to create Numilk® non-dairy fresh
milk on demand. The Company's Hamilton Beach Health®
subsidiary is focused on expanding the Company's participation in
the home medical market. In February
2024, Hamilton Beach Health acquired HealthBeacon PLC, a
medical technology firm that specializes in developing connected
devices. For more information about Hamilton Beach Brands Holding
Company, visit www.hamiltonbeachbrands.com.
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SOURCE Hamilton Beach Brands Holding Company