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Richard E. Riegel, III To Leave Thor To Establish "Airstream 2 Go," A New Company Renting Airstream Products

Stocks in this article: THO





JACKSON CENTER, Ohio, Aug. 21, 2012 /PRNewswire/ -- Thor Industries, Inc. (NYSE: THO) announced today that Richard E. Riegel, III, Senior Group President, has decided to leave the company to found a new business, "Airstream 2 Go, LLC," which will rent current model Airstream trailers and tow vehicles to consumers and commercial customers.  Mr. Riegel's resignation from Thor takes effect September 30, 2012, after which he will continue in a consulting role for a period of one year.

Announcing the resignation, Peter B. Orthwein, Thor's Chairman and Chief Executive Officer stated, "On behalf of everyone at Thor Industries and its subsidiaries, I thank Dicky for his dedication and contributions during his tenure with our Company.  He served faithfully in a number of key roles, including President & Chief Executive Officer of Airstream and Chief Operating Officer of Thor.  We wish Dicky well in all of his future endeavors and look forward to his new company becoming a customer of Thor and Airstream."

Reflecting on his years with the Company, Mr. Riegel commented, "As I leave Thor, I have tremendous confidence in the future of the Company, given the strength of its corporate and company management teams, outstanding product array, and its enduring business model which has propelled Thor's growth for over 30 years. That's a great feeling for me as a continuing Thor shareholder and as a new customer of the company's Airstream subsidiary in my new business venture. I thank Peter Orthwein and Thor's board of directors for the myriad opportunities I have enjoyed at Thor over many years and look forward to expanding upon the excellent relationships I have enjoyed throughout Thor and the entire RV industry as I build my new business, Airstream 2 Go. Further details of the new company will emerge in the coming weeks."

Thor Industries is the world's largest manufacturer of recreation vehicles and a major builder of commercial buses and ambulances.

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