NN Promotes Verlin Bush to Chief Commercial Officer
June 27 2023 - 3:00PM
NN, Inc. (NASDAQ: NNBR), a global diversified industrial company
that manufactures high-precision components and assemblies, today
announced the promotion of Verlin Bush to the role of Vice
President and Chief Commercial Officer. In this role, he is
responsible for strengthening customer engagement, while working
across the organization to drive operational efficiencies and
greater price competitiveness. Mr. Bush, an 18-year veteran of NN,
brings extensive operations, plant management, engineering, and
sales experience to his new role. The promotion is effective
immediately and he will report directly to Harold Bevis, NN’s new
President and Chief Executive Officer.
“Verlin brings exactly the right mix of experience to help NN
understand and deliver what our customers need most. His experience
in operations management, engineering, and sales leadership all
make him uniquely qualified for this role,” said Mr. Bevis. “His
expertise, track record, and credibility with customers is critical
to leading and implementing our growth strategy.”
Mr. Bevis, who joined NN in May, has already begun implementing
measures to optimize costs and drive greater efficiencies. Along
with commercial organization changes, these actions provide a
foundation for better price competitiveness and accelerated growth.
Mr. Bush is working with Mr. Bevis to strategically align sales
with operations at the plant level to better meet customer
needs.
“We’re focused on improving the quality of our partnership with
customers and empowering our sales and operations teams at the
plant level with greater flexibility,” said Mr. Bush. “Our
customers know NN for delivering premium quality products,
precision tech, and engineering; our focus now is to grow
profitable business faster.”
Mr. Bush brings over 30 years of hands-on experience in diverse
manufacturing operations within automotive, industrial, medical,
and aerospace and defense markets. He has worked at nearly every
organizational level in roles ranging from assembly and front-line
leadership, operations, engineering, and sales. Prior to joining
NN, Mr. Bush worked in diverse manufacturing firms such as ZF Group
and Howmet/Alcoa Aerospace. He holds a degree in Mechanical
Drafting and Design Technologies and is certified in Lean and Six
Sigma methodologies.
About NN, Inc.
NN, Inc., a global diversified industrial company, combines
advanced engineering and production capabilities with in-depth
materials science expertise to design and manufacture
high-precision components and assemblies for a variety of global
markets. Headquartered in Charlotte, North Carolina, NN has 27
facilities in North America, Europe, South America,
and Asia.
FORWARD-LOOKING STATEMENTS
Except for specific historical information, many of the matters
discussed in this press release may express or imply projections of
revenues or expenditures, statements of plans and objectives or
future operations or statements of future economic performance.
These statements may discuss goals, intentions and expectations as
to future trends, plans, events, results of operations or financial
condition, or state other information relating to NN,
Inc. based on current beliefs of management as well as
assumptions made by, and information currently available to,
management. Forward-looking statements generally will be
accompanied by words such as “anticipate,” “believe,” “could,”
“estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,”
“possible,” “potential,” “predict,” “project” or other similar
words, phrases or expressions. Forward-looking statements involve a
number of risks and uncertainties that are outside of management’s
control and that may cause actual results to be materially
different from such forward-looking statements. Such factors
include, among others, general economic conditions and economic
conditions in the industrial sector; the impacts of pandemics,
epidemics, disease outbreaks and other public health crises,
including the COVID-19 pandemic, on our financial condition,
business operations and liquidity; competitive influences; risks
that current customers will commence or increase captive
production; risks of capacity underutilization; quality issues;
material changes in the costs and availability of raw materials;
economic, social, political and geopolitical instability, currency
fluctuation, and other risks of doing business outside of the
United States; inflationary pressures and changes in the cost or
availability of materials, supply chain shortages and disruptions,
and the availability of labor; our dependence on certain major
customers, some of whom are not parties to long-term agreements
(and/or are terminable on short notice); the impact of acquisitions
and divestitures; our ability to hire or retain key personnel; the
level of our indebtedness; the restrictions contained in our debt
agreements; our ability to obtain financing at favorable rates, if
at all, and to refinance existing debt as it matures; unanticipated
difficulties integrating acquisitions; new laws and governmental
regulations; the impact of climate change on our operations; and
cyber liability or potential liability for breaches of our or our
service providers’ information technology systems or business
operations disruptions. The foregoing factors should not be
construed as exhaustive and should be read in conjunction with the
sections entitled “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” included
in the Company’s filings made with the Securities and Exchange
Commission. Any forward-looking statement speaks only as of the
date of this press release, and the Company undertakes no
obligation to publicly update or review any forward-looking
statement, whether as a result of new information, future
developments or otherwise, except as required by law. New risks and
uncertainties may emerge from time to time, and it is not possible
for the Company to predict their occurrence or how they will affect
the Company. The Company qualifies all forward-looking statements
by these cautionary statements.
Contact:
Tim
PetersMedia Contact+1 773 318 7558tim.peters@alphaadvgroup.com
Joseph Caminiti, CFAInvestor Relations
Contactjoseph.caminiti@alpha-ir.com+1 312 445 2864
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