Britton Smith, President of Blue Bird, to
Succeed Phil Horlock as CEO Doug Grimm, Director, to Succeed Kevin
Penn as Chairman
Blue Bird Corporation (Nasdaq: BLBD), the leader in electric and
low-emission school buses, today announced that Britton Smith will
assume the position of President & CEO, effective September 29,
2024, and that the Board of Directors has elected Doug Grimm as
Chairman, effective immediately.
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Blue Bird appointed Britton Smith to
President & CEO after he served as the company’s President
since June 2023 (Photo: Business Wire)
Mr. Smith will succeed Phil Horlock, who served as the Company’s
President & CEO from 2011 to 2021 and was reappointed to the
position in May 2023. Mr. Horlock will continue to serve as a
member of the Board, to ensure a smooth transition with Mr. Smith,
who has also been elected to the Company’s Board of Directors,
effective immediately.
Mr. Smith has held various executive roles since joining Blue
Bird in 2022, including leading the Company’s highly-successful EV
business and growth strategy. Since being appointed President in
mid-2023, he has taken on increasing functional responsibilities
across the company.
“Britton and I have worked very closely together over the past
year and he is well qualified and prepared for the CEO position,”
said Horlock. “After being named President a year ago, we developed
a rigorous transition plan for Britton to take on increasing
responsibility across the entire business and that has been fully
executed with great success, as demonstrated by our recent
results.
“It’s been a privilege to have led this incredible Company for
almost 14 years,” continued Horlock. “I want to give thanks to our
amazing team at Blue Bird and our dealers for their dedication and
drive in making this nearly 100-year-old company the undisputed
leader in alternative-powered school buses. I’d also like to
recognize our Board of Directors, and especially our Chairman,
Kevin Penn, for their unwavering support and friendship during my
tenure. I am very excited for our future with Britton taking over
as CEO at the start of our next fiscal year, and I look forward to
supporting our continued growth under his leadership, from my seat
on the Board.”
“I am truly honored to have the opportunity to lead Blue Bird as
we build on the foundation established by Phil, our leadership
team, dealer network, and our workforce,” said Smith. “Managing our
transition to EV leadership has been an incredible experience and I
look forward to even greater growth ahead for the entire Company.
It’s an exciting time in Blue Bird’s history, and I’m energized by
the opportunities ahead,” said Smith.
In addition to the CEO transition, Doug Grimm will succeed Kevin
Penn as Chairman of the Board, who has served in that role since
2016. Mr. Penn will continue to serve as a member of the Board of
Directors.
“It is an honor to step into the role of Chairman at such an
exciting time at Blue Bird,” said Grimm. “Since joining the Board
in 2017, I have seen the team execute a rigorous transformation by
making smart investments and introducing new products that
differentiate us from our competitors. As a result, Blue Bird finds
itself in a position of leadership and strength today. I look
forward to working with my fellow Directors to capitalize on our
momentum and further expand the value we provide to our customers,
shareholders, employees, and suppliers.”
“On behalf of the Board, I would like to thank Phil for his
significant contributions and for the stability he has provided as
CEO over many years,” said Penn. “He has been instrumental in
positioning the Company for long-term success, and in particular
for firmly establishing Blue Bird as the alternative-power leader
in school buses. Doug and Britton know Blue Bird and our industry
exceptionally well, and are outstanding choices to lead the Company
into the future by building on the terrific momentum we are seeing
today.”
Mr. Smith holds a master’s degree in Business Administration
from the Harvard Business School and a bachelor’s degree in
Mechanical Engineering with Highest Distinction from the United
States Naval Academy.
Mr. Grimm is currently Chairman of the Board for Electrical
Components International, and a Board member with Lumileds and
Pangea.
Mr. Grimm holds a bachelor’s degree in Economics &
Management from Hiram College (OH) and has a master’s degree in
Business Administration from the University of Detroit.
About Blue Bird Corporation
Blue Bird (NASDAQ: BLBD) is recognized as a technology leader
and innovator of school buses since its founding in 1927. Our
dedicated team members design, engineer and manufacture school
buses with a singular focus on safety, reliability, and durability.
School buses carry the most precious cargo in the world – 25
million children twice a day – making them the most trusted mode of
student transportation. The company is the proven leader in low-
and zero-emission school buses with more than 20,000 propane,
natural gas, and electric powered buses in operation today. Blue
Bird is transforming the student transportation industry through
cleaner energy solutions. For more information on Blue Bird's
complete product and service portfolio, visit www.blue
bird.com.
Forward Looking Statements
This press release includes forward-looking statements within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements relate to expectations for future financial performance,
business strategies or expectations for our business. Specifically,
forward-looking statements include statements in this press release
regarding earnings growth and Blue Bird’s future positioning and
may include other statements preceded by, followed by or that
include the words “estimate,” “plan,” “project,” “forecast,”
“intend,” “expect,” “anticipate,” “believe,” “seek,” “target” or
similar expressions
These forward-looking statements are based on information
available as of the date of this press release, and current
expectations, forecasts and assumptions, and involve a number of
judgments, risks and uncertainties. Accordingly, forward-looking
statements should not be relied upon as representing our views as
of any subsequent date, and we do not undertake any obligation to
update forward-looking statements to reflect events or
circumstances after the date they were made, whether as a result of
new information, future events or otherwise, except as may be
required under applicable securities laws. The factors described
above, as well as risk factors described in reports filed with the
SEC by us (available at www.sec.gov), could cause our actual
results to differ materially from estimates or expectations
reflected in such forward-looking statements.
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Blue Bird Investor Contact Mark Benfield Investor
Relations M: +1.478.822.2315 Mark.Benfield@blue-bird.com
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