Oshkosh Corporation (NYSE: OSK), a leading manufacturer of specialty vehicles and vehicle bodies, today announced that its Board of Directors has nominated Stephen D. Newlin, chairman, president and chief executive officer of PolyOne Corporation, for election to the Oshkosh Board of Directors at the Company’s 2013 Annual Meeting of Shareholders. Harvey Medvin, who has served as a director of Oshkosh since 2004, is retiring from the Board and therefore will not stand for re-election to the Board at the 2013 Annual Meeting.
Oshkosh also announced today that it filed preliminary proxy materials with the U.S. Securities and Exchange Commission (“SEC”) in connection with the 2013 Annual Meeting. The preliminary proxy materials are available on the SEC’s website, www.sec.gov.
Upon the election of Mr. Newlin and the remaining incumbent Oshkosh directors at the 2013 Annual Meeting, the Board will continue to be comprised of 13 highly-qualified and experienced directors, 12 of whom are independent and all of whom are elected annually. With the election of Mr. Newlin, Oshkosh will have added seven new independent directors to its Board since 2008.
Richard M. Donnelly, Oshkosh Corporation Chairman of the Board of Directors, commented, “We are pleased to nominate Steve Newlin to our Board. Steve is a seasoned executive who brings to Oshkosh a broad, diverse skill set and in-depth knowledge of the global markets. After joining PolyOne in 2006, Mr. Newlin led a comprehensive transformation of PolyOne, changing the company from a low-margin commodity compounder into a thriving specialty formulator that generates profitable growth through innovative customer solutions. Mr. Newlin fundamentally improved the corporation through a series of divestitures, strategic acquisitions, operational efficiencies, commercial investments and global expansion. Steve has a proven track record of delivering growth and enhancing shareholder value, and we look forward to benefiting from his insight.”Mr. Donnelly continued, “Harvey Medvin has been a valued member of the Board for eight years, and on behalf of the entire Board of Directors, I thank him for his tireless service and numerous contributions to Oshkosh.”
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