FORT
WORTH, Texas, March 26,
2024 /PRNewswire/ -- AZZ Inc. (NYSE: AZZ), the
leading independent provider of hot-dip galvanizing and coil
coating solutions in North
America, today announced that Mr. Philip Schlom, Chief Financial Officer
of AZZ, will retire from the Company upon completion of his
current agreement which concludes on November, 4, 2024. Mr.
Jason Crawford, Senior Vice
President - Finance of AZZ Precoat Metals, has agreed to
transition into the role of Chief Financial Officer of AZZ Inc.
Tom Ferguson, Chief Executive
Officer of AZZ, said, "During his four years with the Company,
Philip strengthened the accounting, finance, compliance, controls,
and audit functions and was integral to the successful strategic
transformation of the Company. While his retirement is not
imminent, his work ethic and passion for the Company and its people
will be hard to replace. I truly appreciate his advance notice that
will ensure a smooth and well-planned transition."
"We are fortunate to have talented leadership and significant
bench strength. AZZ strives to promote a 'next person up' culture
to ensure continuity in many of our key positions. Therefore, I am
pleased to announce that Jason
Crawford will be our next Chief Financial Officer. Jason
currently serves as Senior Vice President – Finance AZZ
Precoat Metals. His strong track record of accomplishments includes
twelve years' collective experience with Precoat Metals and
parent Sequa Corporation, a $2
billion company previously owned by global investment firm
Carlyle. Jason has more than 20 years of progressive experience in
senior level accounting and finance leadership positions and a
demonstrated track record of success on mergers and acquisitions.
He has broad expertise in both domestic and international companies
across a wide variety of industries," concluded Mr.
Ferguson.
Prior to his current role, Mr. Crawford's tenure with Precoat
Metals/Sequa Corporation included the roles of Senior Vice
President - Finance Sequa Corporation (2020-2022) and Senior Vice
President - Finance Precoat Metals (2012-2020). He also served in
numerous leadership roles within Finance at Boston Scientific (2006
to 2012). Prior to 2006, Mr. Crawford held various accounting and
leadership roles at CTS Corporation (1995-2006). Mr. Crawford has a
Master of Business Administration degree from Washington University Olin Business School, and a
Bachelor of Arts in Accounting from University Abertay, Dundee,
Scotland.
About AZZ Inc.
AZZ Inc. is the leading independent provider of hot-dip
galvanizing and coil coating solutions to a broad range of
end-markets. Collectively, our business segments provide
sustainable, unmatched metal coating solutions that enhance the
longevity and appearance of buildings, products and infrastructure
that are essential to everyday life.
Safe Harbor Statement
Certain statements herein about our expectations of future
events or results constitute forward-looking statements for
purposes of the safe harbor provisions of The Private Securities
Litigation Reform Act of 1995. You can identify forward-looking
statements by terminology such as "may," "could," "should,"
"expects," "plans," "will," "might," "would," "projects,"
"currently," "intends," "outlook," "forecasts," "targets,"
"anticipates," "believes," "estimates," "predicts," "potential,"
"continue," or the negative of these terms or other comparable
terminology. Such forward-looking statements are based on currently
available competitive, financial, and economic data and
management's views and assumptions regarding future events. Such
forward-looking statements are inherently uncertain, and investors
must recognize that actual results may differ from those expressed
or implied in the forward-looking statements. Forward-looking
statements speak only as of the date they are made and are subject
to risks that could cause them to differ materially from actual
results. Certain factors could affect the outcome of the matters
described herein. This press release may contain
forward-looking statements that involve risks and uncertainties
including, but not limited to, changes in customer demand for our
products and services, including demand by the construction
markets, the industrial markets, and the metal coatings markets. We
could also experience additional increases in labor costs,
components and raw materials including zinc and natural gas, which
are used in our hot-dip galvanizing process; supply-chain vendor
delays; customer requested delays of our products or services;
delays in additional acquisition opportunities; an increase in our
debt leverage and/or interest rates on our debt, of which a
significant portion is tied to variable interest rates;
availability of experienced management and employees to implement
AZZ's growth strategy; a downturn in market conditions in any
industry relating to the products we inventory or sell or the
services that we provide; economic volatility, including a
prolonged economic downturn or macroeconomic conditions such as
inflation or changes in the political stability in the United States and other foreign markets in
which we operate; acts of war or terrorism inside the United States or abroad; and other changes
in economic and financial conditions. AZZ has provided additional
information regarding risks associated with the business, including
in Part I, Item 1A. Risk Factors, in AZZ's Annual Report on Form
10-K for the fiscal year ended February
28, 2023, and other filings with the SEC, available for
viewing on AZZ's website at www.azz.com and on the SEC's
website at www.sec.gov. You are urged to consider these factors
carefully when evaluating the forward-looking statements herein and
are cautioned not to place undue reliance on such forward-looking
statements, which are qualified in their entirety by this
cautionary statement. These statements are based on information as
of the date hereof and AZZ assumes no obligation to update any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
Investor Relations and Company
Contact:
David Nark, Senior Vice President of Marketing, Communications, and
Investor Relations
AZZ Inc.
(817) 810-0095
www.azz.com
Investor Contact:
Sandy
Martin / Phillip Kupper
Three Part Advisors
(214) 616-2207
www.threepa.com
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SOURCE AZZ, Inc.