Oshkosh Truck Corporation [NYSE: OSK] today announced the promotion of Charles L. Szews from executive vice president and chief financial officer to president and chief operating officer of the company, effective October 1, 2007. In addition, David M. Sagehorn was promoted from vice president and treasurer to executive vice president, chief financial officer and treasurer, also effective October 1, 2007.
In his new capacity as COO, Szews will lead and direct all aspects of the company’s four business segments and growth initiatives. Since joining Oshkosh in 1996, Szews has served as vice president and CFO, and was appointed executive vice president in 1997. He also served as interim president of JLG Industries, Inc. during the integration of that acquisition. In May 2007, he was named to the Oshkosh Board of Directors.
“It is with great pleasure that we announce the promotion of Charlie Szews to president and chief operating officer at Oshkosh. Charlie has done a magnificent job as chief financial officer, continuing to be a driving force in the development of Oshkosh’s business strategy, and he has guided the company to superior operational success during the last decade,” said Robert G. Bohn, chairman and chief executive officer. “His promotion is another step in the organizational transformation that Oshkosh is undertaking to drive worldwide growth and expansion across all of our business segments.”
Prior to joining Oshkosh, Szews was vice president and controller of Fort Howard Corporation, at the time the leading commercial tissue manufacturer in the U.S., and before that was a senior audit manager with Ernst & Young. He holds a bachelor’s degree from the University of Wisconsin – Eau Claire and is a certified public accountant.
The company also announced the appointment of David M. Sagehorn to executive vice president, chief financial officer and treasurer, with responsibility for directing the company’s overall financial policies, as well as managing all financial functions including accounting, investor relations, credit, insurance, tax and treasury.
“Dave is a seasoned professional whose career portfolio includes extensive experience in business unit finance, corporate treasury and mergers and acquisitions," said Bohn. "We look forward to his continued contribution and strategic leadership on the executive team.”
Sagehorn joined Oshkosh in March 2000 and subsequently assumed roles of increasing responsibility, including director, business development and vice president, finance for Oshkosh’s defense business before being promoted to vice president and treasurer. Prior to joining Oshkosh, Sagehorn worked in corporate finance at CNH Global (formerly Case Corporation), and began his career in public accounting. Sagehorn holds a bachelor’s degree in accounting from the University of Wisconsin – Platteville, an MBA from Marquette University, and is a certified public accountant.
Photo caption: Charles L. Szews, Oshkosh Truck Corporation president and chief operating officer.
About Oshkosh Truck Corporation
Oshkosh Truck Corporation is a leading designer, manufacturer and marketer of a broad range of specialty access equipment, commercial, fire and emergency and military vehicles and vehicle bodies. Oshkosh products are valued worldwide by rental companies, fire and emergency units, defense forces, municipal and airport support services, and concrete placement and refuse businesses where high quality, superior performance, rugged reliability and long-term value are paramount. For more information, log on to www.oshkoshtruckcorporation.com.
Forward-Looking Statements
This press release contains statements that the company believes are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including statements regarding the company's future financial position, business strategy, targets, projected sales, costs, earnings, capital spending and debt levels, and plans and objectives of management for future operations, are forward-looking statements. When used in this press release, words such as "expects," "intends," "estimates," "anticipates," or "believes" and similar expressions are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the company's control that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the cyclical nature of the company's markets, the company's ability to successfully integrate the JLG acquisition, the consequences of financial leverage associated with the JLG acquisition, risks related to reductions in government expenditures, the uncertainty of government contracts and the company's ability to turnaround its Geesink Norba Group business. Additional information concerning these and other factors is contained in the company's filings with the Securities and Exchange Commission.
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