This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Board Appoints Richard D. Holder As President And CEO Of NN, Inc.

Stocks in this article: ETN NNBR





JOHNSON CITY, Tenn., May 10, 2013 /PRNewswire/ --  NN, Inc. (Nasdaq: NNBR) announced today that its Board of Directors has appointed Richard D. Holder to serve as President and Chief Executive Officer.  Mr. Holder, who is currently the President of Electrical Components for Eaton Corporation's (ETN:NYSE) Electrical Sector, will begin his new role with NN effective June 3, 2013.

Mr. Holder is taking over the executive position being vacated by Roderick R. Baty who in September of 2012 announced his plan to retire in May of this year.  Mr. Holder will also assume the remainder of Mr. Baty's unexpired term on the Board which runs through the annual meeting of 2015.  The Board plans to elect a non-executive director to fill the Chairman position.

Director, Michael E. Werner, who headed the search committee stated, "Following a comprehensive search, we are pleased to name Rich Holder as NN's new President and Chief Executive Officer.  Rich brings a proven record of leadership, successful team building and relevant experience in both organic and acquisitive growth that will prove invaluable in guiding NN in the future and ensuring the continuation of our legacy of growth and success."

Mr. Werner continued, "We are grateful to Rock for his outstanding leadership during his 15 year tenure as CEO and Chairman of NN's Board of Directors.  His strategic vision, guidance and leadership have been instrumental in the growth and development of NN into a major global supplier in the bearing industry.  We wish him and his family the best in retirement."    

"This is a critical time in NN's developing history and I am honored and grateful for the opportunity given to me by the Board of Directors," stated Mr. Holder.  "NN's rich history, culture and financial strength provide a solid foundation to further build upon. I am looking forward to working closely with the Board and the NN leadership team in continuing to develop strategic growth initiatives that will further enhance NN's global position in its current core businesses as well as identifying and developing new strategic growth opportunities," said Mr. Holder.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

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