Columbus McKinnon Corporation (Nasdaq: CMCO), a leading designer, manufacturer and marketer of material handling products, announced today that in order to advance its strategic initiative to grow through investments in new products, international markets and bolt-on acquisitions, it has appointed Karen L. Howard, currently Vice President-Finance and CFO, to Vice President, Strategic Initiatives. The Company has named Gregory P. Rustowicz to succeed Ms. Howard as CFO. The appointments will be effective August 8, 2011.
Karen L. Howard, Vice President, Strategic Initiatives (Photo: Business Wire)Timothy T. Tevens, President and CEO of Columbus McKinnon, noted, “Since 2006, Karen has been leading the execution of our global financial strategy and developed a solid team to address the many complexities associated with corporate finance and accounting, while ensuring stringent control procedures. Her talents and capabilities fit well in our newly developed role to drive our strategic initiatives and help propel the Company to reach our goal of being a profitable, $1 billion revenue Company.” Mr. Rustowicz has 20 years experience with PPG Industries, Inc. where he held a variety of progressively challenging roles in finance and accounting, including Group Chief Financial Officer of PPG’s Glass, Fiber Glass and Chemicals businesses. After leaving PPG, he joined Momentive Performance Materials as Corporate Treasurer. Most recently, Mr. Rustowicz was the Vice President - Finance for Momentive Performance Materials. He began his career with KPMG Peat Marwick. He is a graduate of Canisius College with a B.S. in Accounting and he earned a M.S., Industrial Administration from Carnegie Mellon University. Mr. Tevens added, “We welcome Greg to the Columbus McKinnon team. Investing in our people and expanding our executive team are critical components of our growth strategy. We believe Greg’s extensive global and industrial company experience will prove valuable as we expand around the world and continue to work toward our vision of being the global leader in material handling.”
About Columbus McKinnonColumbus McKinnon is a leading worldwide designer, manufacturer and marketer of material handling products, systems and services, which efficiently and ergonomically lift, position or secure material. Key products include hoists, cranes, actuators, chain and forged attachments. The Company is focused on commercial and industrial applications that require the safety and quality provided by its superior design and engineering know-how. Columbus McKinnon routinely posts news and other comprehensive information on its web site at http://www.cmworks.com. Safe Harbor Statement This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements concerning future revenue and earnings, involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including general economic and business conditions, conditions affecting the industries served by the Company and its subsidiaries, conditions affecting the Company's customers and suppliers, competitor responses to the Company's products and services, the overall market acceptance of such products and services, the effect of operating leverage, the pace of bookings relative to shipments, the ability to expand into new markets and geographic regions, the success in acquiring new business, the speed at which shipments improve, and other factors disclosed in the Company's periodic reports filed with the Securities and Exchange Commission. The Company assumes no obligation to update the forward-looking information contained in this release. Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6814059&lang=en