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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Joy Global Completes Leadership Transition

Joy Global Inc. (NYSE: JOY), a worldwide leader in high productivity mining solutions, announced today that Edward (Ted) L. Doheny, II, has been elected President and Chief Executive Officer of the Company in accordance with the Company’s previously announced executive succession process. The Company’s former President and Chief Executive Officer, Michael W. Sutherlin, today resigned from those positions and from the Board of Directors in preparation for his expected retirement on February 1, 2014.

Mr. Doheny was previously elected to the Company’s Board of Directors on December 3, 2013. Prior to Mr. Doheny’s appointment as President and Chief Executive Officer, he served as Executive Vice President of the Company and as President and Chief Operating Officer of the Underground Equipment division since 2006.

Today the Company also announced that Randal W. Baker has been elected to the new position of Chief Operating Officer of the Company. In this role, Mr. Baker will oversee both the Surface Mining Equipment and the Underground Mining Equipment divisions. Mr. Baker previously served as President and Chief Operating Officer of the Surface Mining division since 2009.

Board chairman John Nils Hanson commented, “I am pleased to announce the Board of Directors has elected Ted Doheny as President and Chief Executive Officer. Ted is committed to building the future direction of Joy Global around the key strategies that have made Joy Global a leading performer in the industry, including product leadership, direct service and enhanced customer partnerships.” Mr. Hanson continued, “I also am pleased to announce the Board of Directors has elected Randy Baker as Chief Operating Officer of the Company. Randy will lead the implementation of our strategy across all our product lines and regions.”

Mr. Hanson further stated, “I would like to express the Board’s great appreciation for Mike Sutherlin’s leadership of Joy Global since he joined the Company in 2003, and particularly since his appointment as Chief Executive Officer in 2007. Mike led our business through significant periods of growth and profitability. Mike’s leadership also attracted, retained and developed strong senior executives such as Ted and Randy, whose industry knowledge and track record gave the Board great comfort in planning for an orderly leadership transition process.”

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,214.42 -10.15 -0.06%
S&P 500 2,110.74 -3.12 -0.15%
NASDAQ 4,987.89 +20.7530 0.42%

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