Holley Announces Appointment of Matthew Stevenson as New President and Chief Executive Officer
17 Mai 2023 - 2:30PM
Business Wire
Holley Inc. (NYSE: HLLY), a leading platform serving performance
automotive enthusiasts, today announced the appointment of Matthew
Stevenson as the Company’s new President and Chief Executive
Officer (CEO). On June 6, 2023, he will replace Interim President
and Chief Executive Officer, Michelle Gloeckler, who will be
remaining with Holley as a member of the Board.
Mr. Stevenson joins Holley from Blue Bird Corporation (NASDAQ:
BLBD), where he served as President and Chief Executive Officer.
While at Blue Bird, Matt led a comprehensive operational and
financial turnaround of an iconic, nearly 100-year-old American
company. Matt has nearly 25 years of experience transforming
organizations and leading growth and turnarounds of large
industrial and consumer companies in both the private and public
sectors. He gained world-class experience in senior leadership
roles with companies such as Daimler, Bridgestone, and Terminix.
Mr. Stevenson also helped found and serves on the board of a
consumer home services company backed by Imperial Capital, a
Toronto-based private equity firm. For the last two years, Georgia
Trend Magazine has named Matt one of Georgia’s most influential
business leaders.
Mr. Stevenson holds a Bachelor of Science degree in Management
with a concentration in Marketing from Kettering University. He
also has a Master of Business Administration degree from the Ross
School of Business at the University of Michigan.
Matthew Rubel, Executive Chairman of the Board, stated, “Matt
brings a rare combination of brand building capability and
operational excellence while having a reputation as a high-quality
leader. His proven track record of growth and value creation has
been transformative through manufacturing operations, digital,
product development and innovation, branding, sales and
distribution optimization. As President and CEO, his expertise will
enable Holley to focus on the enthusiast while strategically
aligning our organization to deliver strong free cash flow and
return the Company’s growth and margin performance to historical
levels. In addition, Matt is an auto enthusiast and has a personal
passion for the motor life. We are excited to have him lead the
team.”
Mr. Stevenson stated, “I am excited to lead this incredibly
talented team. As an automotive enthusiast myself, my passion for
the industry and experience with leading innovative consumer brands
is fully aligned with Holley’s vision to inspire and enable our
enthusiast customers in their automotive adventures by bringing
innovation, discovery, and fun to motor life. I see tremendous
value in the power of the brand portfolio, the successful track
record of industry-leading product innovation, and the
consumer-focus channel strategy that are core to the Holley story.
This foundation, combined with a proven and repeatable acquisition
platform, provides an extremely compelling growth opportunity for
Holley.”
Rubel continued, “We all want to thank Michelle for her
commitment to and stewardship of the business during her time as
Interim CEO. She brought the team together in a motivating and
positive manner. In addition, many members of the Board are to be
thanked for their hard work with the team during this transition.
We are extremely pleased with Matthew’s appointment and look
forward to his many contributions to the business.”
About Holley Holley Inc.
(NYSE: HLLY) is a leading designer, marketer, and manufacturer of
high-performance products for car and truck enthusiasts. Holley
offers a leading portfolio of iconic brands that deliver innovation
and inspiration to a large and diverse community of millions of
avid automotive enthusiasts who are passionate about the
performance and personalization of their classic and modern cars.
Holley has disrupted the performance category by putting the
enthusiast consumer first, developing innovative new products, and
building a robust M&A process that has added meaningful scale
and diversity to its platform. For more information on Holley,
visit https://www.holley.com.
Forward-Looking Statements
Certain statements in this press release may be considered
“forward-looking statements” within the meaning of the “safe
harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements generally
relate to future events or Holley’s future financial or operating
performance. For example, projections of future revenue and
adjusted EBITDA and other metrics are forward-looking statements.
In some cases, you can identify forward-looking statements by
terminology such as “may,” “should,” “will,” “continue,”
“estimate,” “see,” “look,” “anticipate,” “believe,” “predict,” “or”
or the negatives of these terms or variations of them or similar
terminology. Such forward-looking statements are subject to risks,
uncertainties, and other factors which could cause actual results
to differ materially from those expressed or implied by such
forward-looking statements. These forward-looking statements are
based upon estimates and assumptions that, while considered
reasonable by Holley and its management, are inherently uncertain.
Factors that may cause actual results to differ materially from
current expectations include, but are not limited to: 1) the
ability of Holley to grow and manage growth profitably which may be
affected by, among other things, competition and maintenance of
relationships with customers and suppliers; 2) the ability to hire
or retain its management and key employees, including, but not
limited to, the hiring of Mr. Stevenson; 3) costs related to Holley
being a public company; 4) disruptions to Holley's operations,
including as a result of cybersecurity incidents; 5) changes in
applicable laws or regulations; 6) the outcome of any legal
proceedings that may be instituted against Holley; 7) general
economic and political conditions, including the current
macroeconomic environment, political tensions and war (such as the
ongoing conflict in Ukraine); 8) the possibility that Holley may be
adversely affected by other economic, business and/or competitive
factors, including recent events affecting the financial services
industry (such as the closures of certain regional banks); 9)
Holley’s estimates of its financial performance; 10) our ability to
anticipate and manage through disruptions and higher costs in
manufacturing, supply chain, logistical operations, and shortages
of certain company products in distribution channels; and 11) other
risks and uncertainties set forth in the section entitled “Risk
Factors” and “Cautionary Note Regarding Forward-Looking Statements”
in the Annual Report on Form 10-K for the year ended December 31,
2022 filed with the U.S. Securities and Exchange Commission (“SEC”)
on March 15, 2023, and that are otherwise described or updated from
time to time in Holley’s filings with the SEC. Although Holley
believes the expectations reflected in the forward-looking
statements are reasonable, nothing in this press release should be
regarded as a representation by any person that the forward-looking
statements or projections set forth herein will be achieved or that
any of the contemplated results of such forward looking statements
or projections will be achieved. There may be additional risks that
Holley presently does not know or that Holley currently believes
are immaterial that could also cause actual results to differ from
those contained in the forward-looking statements. You should not
place undue reliance on forward-looking statements, which speak
only as of the date they are made. Holley undertakes no duty to
update these forward-looking statements, except as otherwise
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230517005279/en/
Investor Relations: Ross Collins or Stephen Poe Alpha IR
Group 312-445-2870 HLLY@alpha-ir.com
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