Graham Corporation Announces Retirement of Jeffrey F. Glajch, Chief Financial Officer
November 29 2021 - 3:15PM
Business Wire
Graham Corporation (NYSE: GHM), a global business that designs,
manufactures and sells critical equipment for the defense/space,
energy/new energy and chemical/petrochemical industries, today
announced that Jeffrey F. Glajch, Chief Financial Officer, who has
served as CFO for 13 years, plans to retire in the second calendar
quarter of 2022 following the appointment of his successor. The
Company has initiated a comprehensive external search to identify a
successor for this role.
Daniel J. Thoren, President and CEO, commented, “I have had the
pleasure of working with Jeff the last six months at Graham and
also for almost three years during the process of the
Barber-Nichols (“BN”) acquisition. He has demonstrated tenacity,
integrity and a strong business acumen and has been extremely
helpful as we bring these two businesses together. Importantly, he
has been instrumental in our development of strategies to deliver
growth and I am confident he will continue to be a major
contributor through the search and transition. Our search for a
successor is underway and I expect who we ultimately select will
have the experience and capabilities to address the expanded
responsibilities of this important role to help us deliver on our
Company’s growth objectives.”
Mr. Glajch noted, “These are exciting times for Graham. I am
proud of having led our acquisition of Barber-Nichols which has
transformed Graham. We have become a defense and space focused
company with several other opportunities for growth, including in
new energy. Concurrently, we remain strongly committed to advancing
our very well positioned traditional energy and petrochemicals
business. With our investment in BN, we now have a much more
efficient balance sheet and also are working to drive growth. My
retirement in the second calendar quarter of 2022 allows for a full
year post acquisition, which I believe is ample time to enable a
smooth transition, as well as the completion of fiscal year 2022. I
am highly confident in Graham’s future and the Company’s dedication
to advancing growth.”
ABOUT GRAHAM CORPORATION
Graham is a global business that designs, manufactures and sells
critical equipment for the defense/space, energy and advanced
energy and chemical/petrochemical industries. The Graham and
Barber-Nichols’ global brands are built upon world-renowned
engineering expertise in vacuum and heat transfer, cryogenics, and
turbomachinery technologies, as well as the Company’s responsive
and flexible service and unsurpassed quality.
Graham routinely posts news and other important information on
its website, www.graham-mfg.com, where additional comprehensive
information on Graham Corporation and its subsidiaries can be
found.
Safe Harbor Regarding Forward Looking Statements
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are subject to risks, uncertainties and
assumptions and are identified by words such as “expects,”
“estimates,” “confidence,” “projects,” “typically,” “outlook,”
“anticipates,” “indicates”, “believes,” “appears,” “could,”
“opportunities,” “seeking,” “plans,” “aim,” “pursuit,” “look
towards” and other similar words. All statements addressing
operating performance, events, or developments that Graham
Corporation expects or anticipates will occur in the future,
including but not limited to, expected expansion and growth
opportunities within its defense and energy markets, anticipated
revenue, the timing of conversion of backlog to sales, order
momentum and demand for our products, market presence, profit
margins, tax rates, foreign sales operations, its ability to
improve cost competitiveness and productivity, customer
preferences, changes in market conditions in the industries in
which it operates, the effect on its business of volatility in
commodities prices, including, but not limited to changes in
general economic conditions and customer behavior, forecasts
regarding the timing and scope of the economic recovery in its
markets, its acquisition and growth strategy are forward-looking
statements. Because they are forward-looking, they should be
evaluated in light of important risk factors and uncertainties.
These risk factors and uncertainties are more fully described in
Graham Corporation’s most recent Annual Report filed with the
Securities and Exchange Commission, including under the heading
entitled “Risk Factors,” its quarterly reports on Form 10-Q, and
other filings it makes with the Securities and Exchange Commission.
Should one or more of these risks or uncertainties materialize or
should any of Graham Corporation’s underlying assumptions prove
incorrect, actual results may vary materially from those currently
anticipated. In addition, undue reliance should not be placed on
Graham Corporation’s forward-looking statements. Except as required
by law, Graham Corporation disclaims any obligation to update or
publicly announce any revisions to any of the forward-looking
statements contained in this news release.
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version on businesswire.com: https://www.businesswire.com/news/home/20211129005691/en/
Jeffrey F. Glajch Vice President - Finance and CFO Phone: (585)
343-2216 jglajch@graham-mfg.com
Deborah K. Pawlowski Kei Advisors LLC Phone: (716) 843-3908
dpawlowski@keiadvisors.com
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