The Manitowoc Company Announces CFO Retirement and Succession Plan
21 Febbraio 2022 - 11:00PM
Business Wire
David J. Antoniuk to be succeeded by Brian P.
Regan
The Manitowoc Company, Inc. (NYSE: MTW) (the “Company” or
“Manitowoc”), a leading global manufacturer of cranes and lifting
solutions, today announced that David J. Antoniuk will step down as
Chief Financial Officer effective May 2, 2022, and will be
succeeded by Brian P. Regan. Mr. Antoniuk will transition into an
advisory role to the CEO until January 2, 2023, at which time he
will retire from the Company.
"On behalf of the Manitowoc team and our Board of Directors, I
want to extend our deepest thanks to Dave," said Aaron H.
Ravenscroft, President & Chief Executive Officer. "Over his six
years of service, Dave has made many contributions to the success
of Manitowoc. These efforts included the successful transition of
the Company to a profitable stand-alone crane company in 2016; the
refinancing of our debt in 2019; and most recently the closing of
two acquisitions, which was the first major step in transforming
the Company’s strategy. It has been a pleasure to work hand-in-hand
with Dave over the years, and he will be greatly missed by the
Manitowoc family. We wish him and his family the very best in his
retirement."
As part of the Company’s succession planning process, Brian P.
Regan, who currently serves as Vice President, Corporate Controller
and Principal Accounting Officer, will be promoted to Executive
Vice President & Chief Financial Officer, effective May 2,
2022. "I'm excited to announce that Brian Regan will succeed Dave
as the Company’s CFO. Since joining the company in 2018, Brian has
taken on growing responsibilities and played an integral role in
our acquisitions. Brian is the ideal candidate, and it’s a
testament to our succession planning process,” said Mr.
Ravenscroft.
Mr. Regan has served as Vice President, Corporate Controller and
Principal Accounting Officer since November 2018 and has also been
responsible for Treasury over the last 12 months. Prior to
Manitowoc, Mr. Regan served in positions of increasing
responsibility at SPX Corporation from 2006 to 2018 where he most
recently served as Vice President Finance, Chief Financial Officer
of SPX Transformer Solutions. Prior to SPX Corporation Mr. Regan
served in positions of increasing responsibility at Ernst &
Young LLP and Ogilvy & Mather. Mr. Regan holds a Bachelor of
Arts in Economics and Accounting from the College of the Holy Cross
and earned his Certified Public Accountant license in New York.
About The Manitowoc Company, Inc.
The Manitowoc Company was founded in 1902 and has over a
119-year tradition of providing high-quality, customer-focused
products and support services to its markets. Manitowoc is one of
the world's leading providers of engineered lifting solutions.
Manitowoc, through its wholly-owned subsidiaries, designs,
manufactures, markets, and supports comprehensive product lines of
mobile hydraulic cranes, lattice-boom crawler cranes, boom trucks,
and tower cranes under the Aspen Equipment, Grove, Manitowoc, MGX
Equipment Services, National Crane, Potain and Shuttlelift brand
names.
Forward-looking Statements
This press release includes “forward-looking statements”
intended to qualify for the safe harbor from liability under the
Private Securities Litigation Reform Act of 1995. Any statements
contained in this press release that are not historical facts are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are
based on the current expectations of the management of the Company
and are subject to uncertainty and changes in circumstances.
Forward-looking statements include, without limitation, statements
typically containing words such as “intends,” “expects,”
“anticipates,” “targets,” “estimates,” and words of similar import.
By their nature, forward-looking statements are not guarantees of
future performance or results and involve risks and uncertainties
because they relate to events and depend on circumstances that will
occur in the future. There are a number of factors that could cause
actual results and developments to differ materially from those
expressed or implied by such forward-looking statements. Factors
that could cause actual results and developments to differ
materially include, among others:
- The negative impacts COVID-19 has had and will continue to have
on Manitowoc’s business, financial condition, cash flows, results
of operations and supply chain, as well as customer demand
(including future uncertain impacts);
- actions of competitors;
- changes in raw material and commodity prices;
- changes in economic or industry conditions generally or in the
markets served by Manitowoc;
- unanticipated changes in customer demand, including changes in
global demand for high-capacity lifting equipment, changes in
demand for lifting equipment in emerging economies and changes in
demand for used lifting equipment;
- failure to comply with regulatory requirements related to the
products the Company sells;
- the ability to capitalize on key strategic opportunities and
the ability to implement Manitowoc’s long-term initiatives;
- the ability to complete and appropriately integrate
acquisitions, strategic alliances, joint ventures or other
significant transactions;
- unanticipated changes in revenues, margins and costs;
- geographic factors and political and economic conditions and
risks;
- the ability to increase operational efficiencies across
Manitowoc and to capitalize on those efficiencies;
- risks and factors detailed in Manitowoc's 2021 Annual Report on
Form 10-K and its other filings with the United States Securities
and Exchange Commission.
Manitowoc undertakes no obligation to update or revise
forward-looking statements, whether as a result of new information,
future events, or otherwise. Forward-looking statements only speak
as of the date on which they are made. Information on the potential
factors that could affect the Company's actual results of
operations is included in its filings with the Securities and
Exchange Commission, including but not limited to its Annual
Reports on Form 10-K for the fiscal years ended December 31, 2020
and 2021.
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Ion Warner VP, Marketing and Investor Relations +1
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