CHARLOTTE, Mich., Sept. 29, 2015 /PRNewswire/
-- Spartan Motors, Inc. (NASDAQ: SPAR) ("Spartan" or
the "Company") today announced that Frederick "Rick" Sohm joined
Spartan Motors as the Company's Chief Financial Officer, effective
September 28, 2015. Sohm succeeds
Spartan Motors CFO Lori Wade.
Sohm, 45, most recently served as the Treasurer of ALTe
Technologies, a start-up company that engineers and produces hybrid
electric powertrain systems for the commercial vehicle market.
Prior to joining ALTe Technologies in 2014, Sohm was the Chief
Financial Officer of Warrior Sports, Inc., a position he held from
2009 to 2014. Sohm's career spans over 20 years, during which he
has held several executive and leadership positions in finance and
accounting at world-class companies such as ArvinMeritor, Inc. and
DaimlerChrysler Corporation. In his role as Spartan Motors' Chief
Financial Officer, Sohm will lead the Company's finance functions,
as well as manage relationships with shareholders, analysts, and
other key stakeholders. Going forward, the role of CFO at Spartan
will also include a more concentrated focus on global business
expansion, M&A, and business transformation. This expanded
focus will help the company to execute successfully the strategic
plans outlined by recently-appointed President & Chief
Executive Officer Daryl Adams.
"We are pleased to welcome Rick to Spartan Motors," said
Daryl Adams, President and Chief
Executive Officer of Spartan Motors. "He brings extensive
experience in strategic planning, capital markets, mergers and
acquisitions, as well as demonstrated leadership skills to the
Company. These skills will help guide Spartan as we transition from
our current focus on operational improvement to pursuing growth
opportunities, as we seek to enhance shareholder value."
Adams added, "On behalf of everyone at Spartan, and our Board of
Directors, I want to thank Lori for her numerous contributions. We
wish her all the best going forward." Wade joined the
Company in 2008, and served in the role of Chief Financial Officer
since February 2014.
About Spartan Motors
Spartan Motors, Inc. designs,
engineers and manufactures specialty chassis, specialty vehicles,
truck bodies and aftermarket parts for the recreational vehicle
(RV), emergency response, shuttle bus, government services,
defense, and fleet vehicle markets. The Company's brand names –
Spartan Motors, Spartan Specialty Vehicles, Spartan Emergency
Response, Spartan Parts and Accessories, and Utilimaster®, a
Spartan Motors Company – are known for quality, performance,
service and first-to-market innovation. The Company employs
approximately 1,700 associates at facilities in Michigan, Pennsylvania, South
Dakota and Indiana. Spartan
reported sales of $507 million in 2014 and is focused on
becoming a global leader in the design, engineering and manufacture
of specialty vehicles and chassis. Visit Spartan Motors at
www.spartanmotors.com.
This release contains several forward-looking statements that
are not historical facts, including statements concerning our
business, strategic position, financial projections, financial
strength, future plans, objectives, and the performance of our
products and operations. These statements can be identified by
words such as "believe," "expect," "intend," "potential," "future,"
"may," "will," "should," and similar expressions regarding future
expectations. These forward-looking statements involve
various known and unknown risks, uncertainties, and
assumptions that are difficult to predict with regard to
timing, extent, and likelihood. Therefore, actual performance
and results may materially differ from what may be expressed or
forecasted in such forward-looking statements. Factors that
could contribute to these differences include operational and other
complications that may arise affecting the implementation of our
plans and business objectives; continued pressures caused by
economic conditions and the pace and extent of the economic
recovery; challenges that may arise in connection with the
integration of new businesses or assets we acquire or the
disposition of assets; restructuring of our operations, and/or our
expansion into new geographic markets; issues unique to government
contracting, such as competitive bidding processes, qualification
requirements, and delays or changes in funding; disruptions within
our dealer network; changes in our relationships with major
customers, suppliers, or other business partners, including Isuzu;
changes in the demand or supply of products within our markets or
raw materials needed to manufacture those products; and changes in
laws and regulations affecting our business. Other
factors that could affect outcomes are set forth in our Annual
Report on Form 10-K and other filings we make with the Securities
and Exchange Commission (SEC), which are available at
www.sec.gov or our website. All forward-looking
statements in this release are qualified by this paragraph.
Investors should not place undue reliance on forward-looking
statements as a prediction of actual results. We undertake no
obligation to publicly update or revise any forward-looking
statements in this release, whether as a result of new information,
future events, or otherwise.
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SOURCE Spartan Motors, Inc.