Allison Transmission Announces Vice President Retirement, Successor Named
INDIANAPOLIS, Jan. 21, 2014 /PRNewswire/ -- Allison Transmission Holdings Inc. (NYSE: ALSN), a global leader in the design and manufacture of commercial and military fully automatic transmissions and hybrid propulsion systems, today announced that James L. Wanaselja, Vice President of North American Marketing, Sales and Service, has elected to retire effective April 1.
"Under Jim's leadership over the past 19 years, he and his team have developed effective sales and marketing strategies which have been implemented company wide. The entire Allison team and I wish Jim, his wife, Lynn, and their family a long and happy retirement. His presence on our team will be missed," said Lawrence E. Dewey, Chairman, President and CEO of Allison Transmission.
Michael G. Headly has been promoted to Senior Vice President of Global Marketing, Sales and Service and will add Wanaselja's duties to his previous responsibilities as Allison Transmission's Vice President of Outside North American Marketing, Sales and Service. During his 25 years of service with Allison, Headly has led key areas of the business, including: Defense Programs, North American Sales, Program Management, and Allison Transmission Europe.
"Mike's contributions to Allison Transmission have been instrumental to our successes around the world," said Dewey. "He clearly understands the commercial and defense medium- and heavy-duty transmission end markets, and I am confident that through his leadership, he will continue to drive our growth initiatives in his expanded role."
ABOUT ALLISON TRANSMISSION
Allison Transmission (NYSE: ALSN) is the world's largest manufacturer of fully automatic transmissions for medium- and heavy-duty commercial vehicles and hybrid-propulsion systems for city buses. Allison transmissions are used in a variety of applications including refuse, construction, fire, distribution, bus, motorhomes, defense and energy. Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA and employs approximately 2,800 people worldwide. With a market presence in more than 80 countries, Allison has regional headquarters in the Netherlands, China and Brazil with manufacturing facilities in the U.S., Hungary and India. Allison also has approximately 1,400 independent distributor and dealer locations worldwide. For more information, visit www.allisontransmission.com.
FORWARD LOOKING STATEMENTS
This press release may contain forward-looking statements. All statements other than statements of historical fact contained in this press release are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plans," "project," "anticipate," "believe," "estimate," "predict," "intend," "forecast," "could," "potential," "continue" or the negative of these terms or other similar terms or phrases. Forward-looking statements are not guarantees of future performance and involve known and unknown risks. Factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made include, but are not limited to: risks related to our substantial indebtedness; our participation in markets that are competitive; general economic and industry conditions; our ability to prepare for, respond to and successfully achieve our objectives relating to technological and market developments and changing customer needs; the failure of markets outside North America to increase adoption of fully-automatic transmissions; the discovery of defects in our products, resulting in delays in new model launches, recall campaigns and/or increased warranty costs and reduction in future sales or damage to our brand and reputation; the concentration of our net sales in our top five customers and the loss of any one of these; risks associated with our international operations; brand and reputational risks; our intention to pay dividends; and labor strikes, work stoppages or similar labor disputes, which could significantly disrupt our operations or those of our principal customers. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. All information is as of the date of this press release, and we undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in expectations.
SOURCE Allison Transmission Holdings Inc.