Actuant Announces Appointment of Jim Ferland as Board Chair
MILWAUKEE--(BUSINESS WIRE)-- Actuant Corporation (NYSE:ATU) today announced Jim Ferland’s appointment as board chair following Robert Peterson’s decision not to stand for re-election to Actuant’s Board of Directors following the expiration of his term.
“We greatly value the broad experience Jim has brought to the Board as a former public company CEO and Board Chair. Jim has been instrumental in leading the Board’s discussions on portfolio management and capital allocation, and I am confident that under Jim’s leadership Actuant will continue to drive shareholder value as a premier industrial tool company,” said Randy Baker, President and CEO. “On behalf of the Actuant team, we extend our congratulations to Jim.”
Mr. Ferland succeeds former board chair Robert Peterson, who served on the Board of Directors since 2003, became lead independent director in 2014 and was appointed as Chair in 2016.
“Bob has been instrumental in shaping Actuant’s strategic direction over the years and has provided the Company with over 15 years of guidance and leadership. In addition, Bob’s financial and private equity expertise has been a valuable resource to the Board,” added Baker. “I would like to thank Bob for his commitment to the Company and its shareholders and wish him well in retirement.”
Actuant Corporation is a diversified industrial company serving customers from operations in more than 30 countries. The Actuant businesses are leaders in a broad array of niche markets including branded hydraulic tools and solutions, specialized products and services for energy markets and highly engineered position and motion control systems. The Company was founded in 1910 and is headquartered in Menomonee Falls, Wisconsin. Actuant trades on the NYSE under the symbol ATU. For further information on Actuant and its businesses, visit the Company's website at www.actuant.com.
VP Corporate Strategy and Investor Relations
Source: Actuant Corporation
Released January 30, 2019