AZZ incorporated Announces New Chairman of Board of Directors
FORT WORTH, Texas, July 31, 2013 /PRNewswire/ -- AZZ incorporated (NYSE: AZZ) ("AZZ"), a manufacturer of electrical products and a provider of galvanizing services, announced today that Dr. H. Kirk Downey has resigned from his position as chairman of the board of directors. Dr. Downey is resigning from this position solely as a matter of corporate governance to provide another member of the board of directors, Mr. Kevern Joyce, with the opportunity to serve as chairman. Dr. Downey will continue to serve as a member of the board of directors through the one year term for which he was elected at AZZ's 2014 annual shareholders meeting. Dr. Downey has provided AZZ with 21 years of dedicated service as a member of its board of directors and has served as chairman of the board of directors for the last 10 years. Dr. Downey's resignation from this position was effective as of AZZ's annual shareholders' meeting held on July 9, 2013, at which time Mr. Joyce was appointed chairman of AZZ's board of directors.
"On behalf of the board of directors and the entire company, I would like to thank Dr. Downey for his years of leadership and service in support of AZZ," said David Dingus, President and Chief Executive Officer of AZZ. "Mr. Joyce brings extensive experience to the role of chairman of the board, including his experience and knowledge in the electrical power generation industry, where he served as the Chief Executive Officer of a publicly traded electrical utility company. I look forward to working with Mr. Joyce as we continue to focus on the growth of AZZ's business."
AZZ incorporated is a specialty electrical equipment manufacturer serving the global markets of power generation, transmission and distribution and industrial, as well as a leading provider of hot dip galvanizing services to the steel fabrication market nationwide.
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," "should," "expects," "plans," "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. This release may contain forward-looking statements that involve risks and uncertainties including, but not limited to, changes in customer demand and response to products and services offered by AZZ, including demand by the power generation markets, electrical transmission and distribution markets, the industrial markets, and the hot dip galvanizing markets; prices and raw material cost, including zinc and natural gas which are used in the hot dip galvanizing process; changes in the economic conditions of the various markets that AZZ serves, foreign and domestic, customer request delays of shipments, acquisition opportunities, currency exchange rates, adequacy of financing, and availability of experienced management employees to implement AZZ's growth strategy. AZZ has provided additional information regarding risks associated with the business in AZZ's Annual Report on Form 10-K for the fiscal year ended February 28, 2013 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 in 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.
SOURCE AZZ incorporated
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