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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Roderick R. Baty, Chairman And CEO Of NN, Inc. Announces Plan For Retirement





JOHNSON CITY, Tenn., Sept. 4, 2012 /PRNewswire/ -- The Board of Directors of NN, Inc. (NASDAQ: NNBR)  today announced that Chairman and Chief Executive Officer, Roderick R. Baty has informed the Board that he will retire by the Company's next annual meeting of stockholders to be held in May of 2013.  Mr. Baty will also step down from the Board at that time. 

On behalf of the Board of Directors, Ron Morris, Director and Audit Committee Chairman said, "We would like to extend our gratitude to Rock for his outstanding leadership during his tenure as CEO and Chairman of the Board of NN. Under his guidance and strategic vision, NN has grown from a small domestic company with three manufacturing locations, 400 employees and $75 million in sales to a multinational Company with 10 global manufacturing locations, over 2,000 employees and sales in excess of $424 million.  Despite sometimes trying economic times, NN has emerged strong and well positioned to continue to grow and provide exceptional service and products to our global customers."

Mr. Baty commented, "My decision to retire is solely based upon my desire to spend more time with my family and to further pursue my work with charitable causes.  I feel blessed to have been a part of this wonderful organization and to have been afforded the opportunity to play a leadership role in the success NN has enjoyed over the last 15 years.  The expansion and operational success we have achieved would not have been possible without the strong leadership from our board of directors and management team, as well as the unwavering dedication of our more than 2,000 employees."  

As part of an existing written succession plan, the Board has formed a search committee and has engaged a firm to assist the committee in leading a comprehensive search to determine Mr. Baty's successor.  Both internal and external candidates will be considered.  Mr. Baty will work with the Board to assure a smooth and successful transition.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,912.11 -70.48 -0.42%
S&P 500 1,969.95 -8.96 -0.45%
NASDAQ 4,442.6980 -2.2110 -0.05%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs