20 December 2024
Somero Enterprises,
Inc.
("Somero"
or the "Company")
Directorate
Changes
Following a 27-year tenure, Somero®
announces that Jack Cooney will retire as Chief Executive Officer
and President of Somero Enterprises, Inc. on March 31, 2025. He
will remain a consultant to the business for a further year to
ensure an orderly handover, and the Board will begin the search for
a new CEO immediately.
Jesse Aho, who has worked for Somero
for over 16 years and has been the Chief Operating Officer of
Global Operations and New Produce Development since May 2024, has
been promoted to President effective immediately.
Larry Horsch, Chairman of the Board,
will also step down as Chairman following the arrival of the new
CEO. The new Chairman will be chosen from the present Board of
Directors and Larry will remain on the Board on an interim
basis.
With these changes, the Board of
Directors believes that the execution of the succession plan,
announced on 3 June 2024, will be complete on the appointment of
the new CEO.
As reported in the 30 July 2024
trading update, the Board is confident that the results for the
full year will be in line with market expectations. The Company
will announce its full year results in March 2025.
The
Directors of Somero said: "On behalf
of the Board, I would like to thank both Jack and Larry for their
unwavering commitment to Somero over so many years. Their hard work
and dedication have been integral in helping Somero to become the
company it is today."
Enquiries:
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Somero Enterprises, Inc.
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www.somero.com
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Jack Cooney, President &
CEO
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+1 239 210 6500
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Vincenzo LiCausi, CFO
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Howard Hohmann, EVP Sales
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Cavendish Capital Markets Ltd (NOMAD and
Broker)
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Matt Goode /Seamus Fricker
(Corporate Finance
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+44 (0)20 7220 0500
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Tim Redfern/Harriet Ward
(ECM)
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Alma Strategic Communications (Financial PR
Advisor)
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somero@almastrategic.com
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David Ison
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+44 (0)20 3405 0205
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Rebecca Sanders-Hewett
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Will Merison
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Notes to Editors:
Somero Enterprises provides
industry-leading concrete-levelling equipment, training, education
and support to customers in over 90 countries. The Company's
cutting-edge technology allows its customers to install
high-quality horizontal concrete floors faster, flatter and with
fewer people. Somero® equipment that incorporates laser-technology
and wide-placement methods is used to place and screed the concrete
slab in all building types and has been specified for use in a wide
range of commercial construction projects for numerous global
blue-chip companies.
Somero pioneered the Laser Screed®
market in 1986 and has maintained its market-leading position by
continuing to focus on bringing new products to market and
developing patent-protected proprietary designs. In addition to its
products, Somero offers customers unparalleled global service,
technical support, training and education, reflecting the Company's
emphasis on helping its customers achieve their business and
profitability goals, a key differentiator to its peers.
For more information, visit
www.somero.com