Graham Corporation Announces Changes to Board of Directors
March 24 2022 - 7:00AM
Business Wire
- Nominates Cari L. Jaroslawsky and Troy A. Stoner to the
Board
- James J. Malvaso and Gerard T. Mazurkiewicz announce
retirements
- Jonathan W. Painter appointed Board Chair
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 the appointments to its Board of Directors of Cari L.
Jaroslawsky, Senior Vice President and General Manager of Eaton
Mission Systems, a division of Eaton Corporation plc (NYSE: ETN),
and Troy A. Stoner, Chief Executive Officer of Argon ST, a
subsidiary of The Boeing Company (NYSE: BA). The Company also
announced the voluntary retirements of James J. Malvaso, Chair of
the Board, and Gerard T. Mazurkiewicz, independent director and
Chair of the Audit Committee. Following Mr. Malvaso’s and Mr.
Mazurkiewicz’s retirements, the Board has elected Jonathan W.
Painter to succeed as Chair, Lisa Schnorr as Chair of the Audit
Committee and James Barber as Chair of the Compensation Committee.
Alan Fortier will continue to serve as Chair of the Nominating and
Governance Committee.
Mr. Painter, Chair of the Board, commented, “With the
acquisition of Barber-Nichols last summer, we expanded our
experience requirements to include deeper defense industry
knowledge within our mix. After an extensive search, we were
fortunate to find two highly qualified candidates to address this
need in Cari and Troy. Cari’s strong operational and finance
experience in the defense industry for most of her career, combined
with her solid track record of driving profitability, make her an
ideal addition to our Board. Troy’s in-depth knowledge of the U.S.
Navy, his leadership and operational experience as well as his
extensive expertise in military defense systems and U.S. Navy
planning and procurement processes, bring measurable value as a
director. We expect both Cari and Troy to prove to be important
additions to the Board and we look forward to their contributions
for the future of Graham.”
Ms. Jaroslawsky brings over 25 years’ experience as an aerospace
engineering executive and finance expert. Currently, as Senior Vice
President and General Manager for Eaton Mission Systems, she has
financial and operational responsibility for six integrated product
teams that supply critical control solutions for environmental and
actuation systems, serving both US and foreign markets. She has
also served as a divisional capability lead driving commercial
strategy for a portfolio of actuation products primarily for
defense markets. Previously, she served as Chief Financial Officer
for Servotronics, Inc. She began her career as an auditor at
PricewaterhouseCoopers. Ms. Jaroslawsky earned her B.S. in
accounting at the State University of New York at Oswego and is a
certified public accountant.
Mr. Stoner brings over 35 years of experience in strategic
planning, risk management, cybersecurity, leadership development,
and engineering in the defense industry having retired from the
U.S. Navy after 30 years of service. Since his retirement from
active duty, he joined The Boeing Company and quickly advanced
through a variety of strategic positions to the role of CEO of
Argon ST, a specialist in systems engineering and manufacturer of a
variety of communications and intelligence technologies for surface
ships, submarines and aircraft. A graduate of the U.S. Naval
Academy, he holds a B.S. in Engineering and M.S. in Mechanical
Engineering from the Naval Postgraduate School. He also is a
graduate of the National Defense University and U.S. Naval War
College.
Mr. Painter noted, “I also want to thank Jim and Jerry for their
many years of dedicated service to the Company. In his years as
Chair, Jim provided visionary leadership and steady guidance which
were instrumental in driving Graham’s diversification strategy, and
he has been the voice of advancement and change over his nearly 20
years of service to the Company. Jerry has also been an invaluable
member of the Board in his 15 years of service and was a
quintessential voice in driving accountability and critical
thinking. We are grateful to both for their extraordinary
contributions to Graham.”
He concluded, “These are exciting times at Graham as we continue
the transition from primarily an energy business into a more
diversified defense industry company. We are adding the critical
talent and experience to our leadership team and at the Board level
to advance this change. I am confident in the team’s ability to
deliver growth and value as it continues to execute to our
plans.”
ABOUT GRAHAM CORPORATION Graham is a global business that
designs, manufactures and sells critical equipment for the
defense/space, energy/new 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,”
“anticipates,” “indicates”, “believes,” “will,” “can,” “possible,”
“opportunities,” 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, the evolution and future of the
Company and its management, the Company’s opportunities, the
Company’s ability to deliver growth and value to its shareholders,
and its operating 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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Investor relations: Deborah K. Pawlowski Kei Advisors LLC
Phone: (716) 843-3908 dpawlowski@keiadvisors.com
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