KENOSHA, Wis.--(BUSINESS WIRE)--Jun. 9, 2016--
Snap-on Incorporated (NYSE: SNA) today announced that its board of
directors has appointed David C. Adams as a director, effective June 9,
Mr. Adams, age 62, has served as chairman and chief executive officer of
Curtiss-Wright Corporation (“Curtiss-Wright”), a global provider of
highly engineered, critical function products and services to the
commercial, industrial, defense and energy markets, since January 2015.
Prior to this, he served as president and chief executive officer from
2013. He served as president and chief operating officer from 2012;
co-chief operating officer from 2008; and president of its former
Curtiss-Wright Controls segment from 2005. He has been a director of
Curtiss-Wright since August 2013.
"Snap-on is pleased to welcome David Adams to our board of directors,"
said Henry W. Knueppel, Snap-on director and chair of the corporate
governance and nominating committee. "David’s extensive experience in a
wide range of industrial markets will be a significant asset to Snap-on.
We look forward to him being a valuable member of our team."
Snap-on believes Mr. Adams meets the independence requirements of the
New York Stock Exchange. The size of the board of directors was
increased to ten members in connection with his appointment. In
accordance with Snap-on’s bylaws, Mr. Adams will serve for a term
expiring at the 2017 Annual Meeting of Shareholders and will be subject
to annual election thereafter.
Snap-on Incorporated is a leading global innovator, manufacturer and
marketer of tools, equipment, diagnostics, repair information and
systems solutions for professional users performing critical tasks.
Products and services include hand and power tools, tool storage,
diagnostics software, information management systems, shop equipment and
other solutions for vehicle dealerships and repair centers, as well as
for customers in industries, including aviation and aerospace,
agriculture, construction, government and military, mining, natural
resources, power generation and technical education. Snap-on also
derives income from various financing programs to facilitate the sales
of its products. Products and services are sold through the company’s
franchisee, company-direct, distributor and internet channels. Founded
in 1920, Snap-on is a $3.4 billion, S&P 500 company headquartered in
Statements in this news release that are not historical facts,
including statements that (i) are in the future tense; (ii) include the
words “expects,” “anticipates,” “intends,” “approximates,” or similar
words that reference Snap-on or its management; (iii) are specifically
identified as forward-looking; or (iv) describe Snap-on’s or
management’s future outlook, plans, estimates, objectives or goals, are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Snap-on cautions the reader that
this news release may contain statements, including earnings
projections, that are forward-looking in nature and were developed by
management in good faith and, accordingly, are subject to risks and
uncertainties regarding Snap-on’s expected results that could cause (and
in some cases have caused) actual results to differ materially from
those described or contemplated in any forward-looking statement.
Factors that may cause the company’s actual results to differ materially
from those contained in the forward-looking statements include those
found in the company’s reports filed with the Securities and Exchange
Commission, including the information under the “Safe Harbor” and “Risk
Factors” headings in its Annual Report on Form 10-K for the fiscal year
ended January 2, 2016, which are incorporated herein by reference. Snap-on
disclaims any responsibility to update any forward-looking statement
provided in this news release, except as required by law.
For additional information, please visit www.snapon.com.
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Source: Snap-on Incorporated