NN, Inc. Board Elects Independent Director G. Ronald Morris As Non-Executive Chairman Replaces Retiring Chairman Roderick R. Baty
JOHNSON CITY, Tenn., May 30, 2013 /PRNewswire/ -- NN, Inc. (Nasdaq: NNBR) announced today that its Board of Directors has appointed G. Ronald Morris to serve as non-executive Chairman. Mr. Morris, who has served as an independent director of the NN, Inc. Board since 1994, will succeed retiring Chairman and Chief Executive Officer Roderick R. Baty effective June 3, 2013. On May 10, 2013, the Company announced that Richard D. Holder would take over the executive position of President and Chief Executive Officer being vacated by Mr. Baty.
Mr. Morris has extensive executive leadership and board experience with technology, precision metal, plastic and bearing manufacturers. He also has substantial knowledge and expertise in product development and global manufacturing as well as invaluable insight and perspective to the Company's strategic development.
Mr. Morris retired in 1999 from Western Industries, Inc., a contract manufacturer of metal and plastic products where he served as President, Chief Executive Officer and director since July 1991. From 1989 to 1991, he served as Chairman of the Board of Integrated Technologies, Inc., a manufacturer of computer software, and from 1988 to 1989, he served as Vice Chairman of Rexnord Corporation, a manufacturer of mechanical power transmission components and related products, including anti-friction bearings. From 1982 to 1988, Mr. Morris served as President and Chief Executive Officer of PT Components, Inc., a manufacturer of Link Belt mechanical power transmission components and related products that was acquired by Rexnord Corporation in 1988.
NN, Inc. manufactures and supplies high precision metal bearing components, industrial plastic and rubber products and precision metal components to a variety of markets on a global basis. Headquartered in Johnson City, Tennessee, NN has 10 manufacturing plants in the United States, Western Europe, Eastern Europe and China. NN, Inc. had sales of US $370 million in 2012.
SOURCE NN, Inc.