Columbus McKinnon Continues To Advance Board Of Directors’ Succession Plan

BUFFALO, N.Y. — July 24, 2018 — Columbus McKinnon Corp. — a designer, manufacturer and marketer of motion control products, technologies and services for material handling — today announced its Board of Directors further advanced its long-term succession plan with the appointment of Richard H. Fleming as chairman of the Board of Directors. Ernest R. Verebelyi, who was re-elected for another term at the company’s Annual Meeting on July 23, 2018, will continue to serve as a director and has been named Chairman Emeritus.

Ernest R. Verebelyi, chairman emeritus, said, “It has been my honor to serve Columbus McKinnon as chairman over these last 13 years and to participate in the company’s growth and improved performance during that period. We have been systematically implementing the Board’s long-term succession plan to provide for continuity and to enable a composition best suited not only for now, but also well into the future. Ricks’ history with the company and strong leadership and governance skills enable us to advance our plan while also affording the company stability through change.”

Richard H. Fleming, chairman of the Board, commented, “Ernie has made substantial contributions to the company during his 13 years as chairman. On behalf of the Board, I want to thank him for his leadership, which has been instrumental in defining the future potential of Columbus McKinnon. We believe management has created a clear roadmap with the Blueprint 2021 strategy to strengthen earnings power and is executing to plan. Concurrently, the Board is driving continuous improvement of our governance practices. In addition to the change in chairmanship, we have brought on two new directors, appointed new Audit and Compensation Committee chairs last year and are now rotating our Governance Committee chair in July as well.”

“Ernie and I also want to thank and congratulate Stephen Rabinowitz on his retirement as a Columbus McKinnon Director at the Annual Meeting. He has been a great contributor over the 14 years he has served on our Board and we appreciate the wisdom and experience he has provided.”

Verebelyi has been a member of Columbus McKinnon’s Board of Directors since January 2003 and Chairman of the Board since August 2005. Fleming joined the Board in March 1999.

Posted July 24, 2018

Source: Columbus McKinnon