Dr. Ivo Celi, Vice President Of Europe, Middle East And Africa (Photo: Business Wire)
Columbus McKinnon Corporation (Nasdaq: CMCO), a leading designer,
manufacturer and marketer of material handling products, announced today
the promotion and appointment of three executives as corporate officers.
Columbus McKinnon Corporation (Nasdaq: CMCO), a leading designer, manufacturer and marketer of material handling products, announced today the promotion and appointment of three executives as corporate officers. Eric Woon was named Vice President of Asia-Pacific (APAC); Dr. Ivo Celi was named Vice President, Europe, Middle East and Africa (EMEA); and Alan Korman was named Vice President, Corporate Secretary and General Counsel. All are members of the Columbus McKinnon Executive Committee. The appointments were effective July 25, 2011.
Eric Woon, Vice President of Asia-Pacific (Photo: Business Wire)
Timothy T. Tevens, President and CEO of Columbus McKinnon, noted, “The promotions of Ivo, Eric, and Alan recognize their accomplishments and the vital role each plays in the profitable global growth of Columbus McKinnon. Together with the rest of our executive leadership team, they give us a firm foundation for continued growth as we move toward our long-term goal of annual sales of $1 billion.” In 2009, Eric Woon joined Columbus McKinnon as Managing Director – Asia-Pacific, where he was responsible for leading the Company’s long-term growth for the region, with a strong focus on China. Before joining Columbus McKinnon, Mr. Woon, spent 15 years in Asia in highly visible roles, as President of Volvo Construction Equipment China and as President and CEO of tesa tape Asia Pacific, where he contributed to the significant growth of both organizations. He also spent four years in China in managerial roles with Cummins Inc., one of the world’s largest manufacturers of diesel engines. Mr. Woon has bachelor’s degrees in economics and political science from the University of Hawaii, as well as master’s degrees in both business administration and international relations from Yale University. Dr. Celi joined Columbus McKinnon as Managing Director – EMEA in 2010, to oversee the Company’s growing presence in the Middle East and Africa. Prior to joining Columbus McKinnon, Dr. Celi spent 13 years with Hilti AG, progressing through jobs of increasing responsibility, most recently as Senior Vice President – Business Unit Diamond Systems. At Hilti, he had responsibility for significantly growing businesses both organically and through acquisitions. His experience includes roles in strategy development, sales and marketing, product portfolio management, customer oriented product development, supply, production and logistics. Dr. Celi graduated from Rheinisch-Westfalische Technische Hochschule (RWTH) in Aachen, Germany with a degree in Mechanical Engineering studies, with a specialization in production technologies. He also received a doctorate with distinction from Fraunhofer-Institute for Production Technology (IPT), also in Aachen, Germany.
Shareholders of Columbus McKinnon Corp. looking to boost their income beyond the stock's 0.6% annualized dividend yield can sell the September covered call at the $30 strike and collect the premium based on the $1.20 bid, which annualizes to an additional 7.4% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 8% annualized rate in the scenario where the stock is not called away.
Shares of Columbus McKinnon Corporation (Nasdaq:CMCO) were gapping up Thursday morning with an open price 13.5% higher than Wednesday's closing price. The stock closed at $13.88 yesterday and opened today's trading at $15.75.