STATESVILLE, N.C., March 11, 2019 /PRNewswire/ -- Kewaunee
Scientific Corporation (Nasdaq: KEQU) today announced the
resignation of David M. Rausch as
President, Chief Executive Officer, and a Director of the Company,
effective immediately. Thomas D. Hull
III, who has served as Chief Financial Officer of the
Company since 2015, has been elected President and Chief Executive
Officer and appointed as a member of the Board of Directors to
fulfill the term for the seat vacated by Mr. Rausch.
Mr. Rausch served as President of the Company since 2012 and has
also been its Chief Executive Officer since 2013. Mr. Rausch
first joined Kewaunee in 1994 as a manager and rose to its highest
office through his steady and successful leadership over
twenty-five years with the Company.
"Dave has been an integral part of our management and executive
leadership teams for two and a half decades, a period of tremendous
change in the marketplace and growth for the Company," said
David S. Rhind, Chairman of the
Board of Directors. "We are extremely thankful to Dave for
his years of steadfast dedication and many significant
contributions to our success. Perhaps most importantly, Dave
developed an exceptional management team, a legacy that will serve
us well for many years," continued Mr. Rhind.
"Mr. Hull brings to the role of CEO his keen business acumen and
astute market insight. These skills coupled with his deep financial
expertise and knowledge of our Company will make Tom an excellent
chief executive," said Mr. Rhind. "We see in Tom's tireless
diligence, strong leadership, and creative thinking a dynamic
leader for our future. Since joining Kewaunee in 2015, Tom
has played a critical role in developing and executing our
strategic priority of operational excellence to support growth, and
coalescing the management team around the strategy. Our Board of
Directors unanimously and enthusiastically supports Tom as the
established leader for this talented executive team as they
continue to identify and act upon new opportunities for growth and
profitability throughout our domestic and international
operations."
Mr. Hull will continue to serve as chief financial executive of
the Company until his successor is identified.
About Kewaunee Scientific
Founded in 1906, Kewaunee
Scientific Corporation is a recognized global leader in the design,
manufacture, and installation of laboratory, healthcare, and
technical furniture products. The Company's products include steel,
wood, and laminate casework, fume hoods, adaptable modular systems,
moveable workstations, stand-alone benches, biological safety
cabinets, and epoxy resin worksurfaces and sinks.
The Company's corporate headquarters are located in Statesville, North Carolina. Direct sales
offices are located in the United
States, India, Singapore, and China. Three manufacturing facilities are
located in Statesville serving the
domestic and international markets, and one manufacturing facility
is located in Bangalore, India
serving the local and Asian markets. The Company's China headquarters and sales office are
located in Shanghai, China.
Kewaunee Scientific's website is located at
http://www.kewaunee.com.
This press release contains statements that the Company
believes to be "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. All
statements other than statements of historical fact included in
this press release, including statements regarding the Company's
future financial condition, results of operations, business
operations and business prospects, are forward-looking statements.
Words such as "anticipate," "estimate," "expect," "project,"
"intend," "plan," "predict," "believe" and similar words,
expressions and variations of these words and expressions are
intended to identify forward-looking statements. All
forward-looking statements are subject to important factors, risks,
uncertainties and assumptions, including industry and economic
conditions that could cause actual results to differ materially
from those described in the forward-looking statements. Additional
information concerning these factors is contained in the Company's
filings with the Securities and Exchange Commission. These
forward-looking statements speak only as of the date of this
document. The Company assumes no obligation, and expressly
disclaims any obligation, to update any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Contact: Thomas
D. Hull III
704/871-3290
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SOURCE Kewaunee Scientific Corporation