STATESVILLE, N.C., April 29, 2013 /PRNewswire/ -- Kewaunee
Scientific Corporation (Nasdaq: KEQU) today announced that
William A. Shumaker, Kewaunee's
Chairman of the Board and Chief Executive Officer, will retire on
June 30, 2013 after almost 20 years
of service with the Company. Mr. Shumaker will remain as a
non-executive Chairman of the Board. As part of a planned
leadership succession process, the Board of Directors appointed
David M. Rausch, current President
and Chief Operating Officer, to succeed Mr. Shumaker and to
become a member of its Board of Directors, both effective
July 1, 2013.
Mr. Shumaker, 65, joined the Company in December 1993 as Vice President of Sales and
Marketing, after holding various management positions with
businesses in the laboratory furniture and appliance industries for
24 years. After serving in several executive positions with the
Company, he was elected President in 1999 and held that position
until March 2012 when he relinquished
this title. He has served as Chief Executive Officer and a director
of Kewaunee Scientific Corporation since 2000 and Chairman of the
Board since 2010.
The Company's directors conveyed their sincere gratitude to Mr.
Shumaker for his many years of dedication and service to the
Company, strong leadership skills, and strategic vision. Under his
leadership, the Company established itself as a global provider of
laboratory furniture and equipment, as it expanded sales
representation throughout Asia and
the Middle East, and established a
modern manufacturing facility in India to serve the local and Asian markets.
The Company has experienced significant growth in sales and market
share in recent years in both the domestic and international
markets. Mr. Shumaker leaves the Company in an excellent position
to continue its growth in the future.
Mr. Rausch, 54, joined Kewaunee in 1994 as Manager of
Estimating. Afterwards, he served in numerous sales and marketing
management positions before being elected Vice President of
Construction Services in June 2007.
In June 2011, he was elected Senior
Vice President of Construction Services and General Manager of the
Laminate Furniture Division. He has served as President and Chief
Operating Officer since March 2012.
He has more than 30 years of experience within the laboratory
furniture industry.
Following a succession planning process lasting more than two
years, the Board expressed its confidence in Mr. Rausch's ability
to lead the Company, stating that his demonstrated leadership
abilities and deep knowledge of the laboratory furniture industry
make him an excellent choice to succeed Mr. Shumaker.
Kewaunee Scientific Corporation is a recognized leader in the
design, manufacture, and installation of laboratory, healthcare,
and technical furniture products. Laboratory furniture products
include both steel and wood cabinetry, fume hoods, adaptable
modular systems, moveable workstations, biological safety cabinets,
and epoxy resin counters and sinks. Healthcare furniture products
include laminate casework, storage systems, and related products
for healthcare applications. Technical furniture products include
column systems, slotted-post systems, pedestal systems, and
stand-alone benches.
The Company's corporate headquarters are located in Statesville, North Carolina. Three
manufacturing facilities are located in Statesville, NC serving the domestic and
international markets. One manufacturing facility is located in
Bangalore, India serving the local
and Asian markets. The Company has subsidiaries in Singapore and India. Kewaunee Scientific's website is
located at http://www.kewaunee.com.
Certain statements in this release constitute
"forward-looking" statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that could significantly impact results or achievements
expressed or implied by such forward-looking statements. These
factors include, but are not limited to, economic, competitive,
governmental, and technological factors affecting the Company's
operations, markets, products, services, and prices.
Contact:
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D. Michael
Parker
|
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704/871-3290
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SOURCE Kewaunee Scientific Corporation