This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Donald J. Douglass Announces His Intention To Retire From The Alamo Group Inc. Board Of Directors

Alamo Group Inc. (NYSE: ALG) announced today that its Founder and Chairman of the Board, Donald J. Douglass will not stand for re-election and will retire from the Board after the Annual Meeting of Shareholders on May 5, 2011.

Mr. Douglass founded Alamo Group in 1969 with the acquisition of Engler Manufacturing Company in Houston, Texas. Sales in that year were approximately $1.8 million. He served as Chairman and CEO of the Company from its founding until his retirement in 1999 from day to day operations, though he has remained as Chairman of the Board of Directors.

Early on he set many goals for the Company which, under his leadership, have been met or exceeded. Among these was his desire to build the leading industrial mowing company and today Alamo Group is the leader in both the agricultural and governmental mowing sectors. He also wanted to see the Company become a truly worldwide operation, which became a reality in 1991 when Alamo made its first acquisition outside the U.S. by purchasing McConnel Ltd in England. This expansion has continued and international operations now account for over one third of Alamo’s sales today. Mr. Douglass also wanted to see Alamo become a public company, which it did in 1993, and it has been listed on the New York Stock Exchange since 1995.

Alamo Group has continued to grow under his leadership and today is a leader in the manufacturing and distribution of a wide range of high quality equipment for right-of-way maintenance and agriculture equipment with sales in excess of $500 million and over 2,300 employees. The Company operates eighteen plants in North America, Europe and Australia.

The Company would like to take this opportunity to thank Mr. Douglass for his 42 years of extraordinary vision and leadership and wishes him the best in his retirement. As recognition of his many accomplishments, the Board of Directors would also like to formally recognize him after his retirement as “Founder and Chairman Emeritus.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 -2.90%
FB $116.73 7.20%
GOOG $691.02 -2.10%
TSLA $247.54 -1.60%
YHOO $36.59 -0.97%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs