John S. Stanik to Retire as Chief Executive Officer of Ampco-Pittsburgh Corporation
03 Oktober 2017 - 10:24PM
Business Wire
Ampco-Pittsburgh Corporation (NYSE: AP) today announced that
John S. Stanik has notified the Board of Directors of his intention
to retire as Chief Executive Officer sometime in the middle of 2018
or at such time as a suitable successor is identified and
appointed, so that a smooth transition of leadership is assured.
Further, Mr. Stanik has pledged ongoing service to Ampco-Pittsburgh
Corporation in any capacity beyond his retirement date. Mr. Stanik
will continue as a member of the Board through his current term,
which ends at the Company’s 2018 Annual Meeting of
Shareholders.
“I have enjoyed my time working with the wonderful employees of
Ampco-Pittsburgh,” said Mr. Stanik. “We have made numerous major
accomplishments together and overcome many challenges during the
last few years. It is the right time to transition to a new chapter
of prosperity and profitability. I am proud of what we have
accomplished and have confidence in the management team to continue
forward after my retirement.”
Ampco-Pittsburgh has appointed a search team comprised of
several members of its Board of Directors and intends to evaluate
internal and external candidates in identifying a highly-qualified,
experienced executive to lead the company on a going-forward
basis.
About Ampco-Pittsburgh Corporation
Ampco-Pittsburgh Corporation, through its operating subsidiary,
Union Electric Steel Corporation, is a leading producer of forged
and cast rolls for the worldwide steel and aluminum industries, as
well as ingot and open die forged products for the oil and gas,
aluminum, and plastic extrusion industries. Ampco-Pittsburgh is
also a producer of air and liquid processing equipment, primarily
custom-engineered finned tube heat exchange coils, large custom air
handling systems and centrifugal pumps. The Corporation operates
manufacturing facilities in the United States, Canada, United
Kingdom, Sweden, Slovenia, and China. Sales offices are located in
North and South America, Asia, Europe, and the Middle East.
Corporate headquarters is located in Carnegie, Pennsylvania.
The Private Securities Litigation Reform Act of 1995 (the “Act”)
provides a safe harbor for forward-looking statements made by or on
our behalf. This news release may contain forward-looking
statements that reflect our current views with respect to future
events and financial performance. All statements in this document
other than statements of historical fact are statements that are,
or could be, deemed forward-looking statements within the meaning
of the Act. In this document, statements regarding future financial
position, sales, costs, earnings, cash flows, other measures of
results of operations, capital expenditures or debt levels and
plans, objectives, outlook, targets, guidance or goals are
forward-looking statements. Words such as “may,” “intend,”
“believe,” “expect,” “anticipate,” “estimate,” “project,”
“forecast” and other terms of similar meaning that indicate future
events and trends are also generally intended to identify
forward-looking statements. Forward-looking statements speak only
as of the date on which such statements are made, are not
guarantees of future performance or expectations, and involve risks
and uncertainties. For Ampco-Pittsburgh, these risks and
uncertainties include, but are not limited to, those described
under Item 1A, Risk Factors, of Ampco-Pittsburgh’s Annual Report on
Form 10-K. In addition, there may be events in the future that we
are not able to predict accurately or control which may cause
actual results to differ materially from expectations expressed or
implied by forward-looking statements. Except as required by
applicable law, we assume no obligation, and disclaim any
obligation, to update forward-looking statements whether as a
result of new information, events or otherwise.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171003006521/en/
Ampco-Pittsburgh CorporationMelanie L. Sprowson,
412-429-2454Director, Investor Relationsmsprowson@ampcopgh.com
Ampco Pittsburgh (NYSE:AP)
Historical Stock Chart
Von Aug 2024 bis Sep 2024
Ampco Pittsburgh (NYSE:AP)
Historical Stock Chart
Von Sep 2023 bis Sep 2024