Avery Weigh-Tronix Appointment of Chief Executive Officer and Headquarters Relocation Announcement
Summary
Avery Weigh-Tronix, LLC has appointed Gerald Bowe as its new Chief Executive Officer, following the resignation of John J. McCann, who will remain as non-executive chairman. The company is also relocating its international headquarters from Providence, Rhode Island, USA to Birmingham, UK, as part of a cost-reduction and business streamlining initiative. Mr. Bowe will lead the company from the new UK office, with key executives reporting to him. Donald J. MacKenzie, the outgoing CFO, will assist with the transition and is expected to leave by October 2002.
EX-2.2 4 dex22.txt AVERY WEIGH-TRONIX ANNOUNCES Exhibit 2.2 [Avery Weigh-Tronix Letterhead] For Immediate Release Avery Weigh-Tronix Announces Appointment of new Chief Executive Officer 21st May 2002 -- Birmingham, UK: Weigh-Tronix, LLC, the parent company of the Avery Weigh-Tronix group, announced today that it has appointed Gerald Bowe as Chief Executive Officer. Mr. Bowe brings a wealth of experience in international operations, in financial liaison with investors and lenders, and in the development and implementation of far reaching strategic initiatives. Prior to joining Avery Weigh-Tronix, Mr. Bowe was the founder and managing director of Goerlitz Fleece GmbH in Goerlitz, Germany from 1994-1998. For the last 3 years, Mr. Bowe was Chief Operating Officer of Malden Mills Industries Inc., Lawrence, Massachusetts, the makers of the PolartecTM line of performance outdoor fabrics. In conjunction with Mr. Bowe's appointment and as part of Avery Weigh-Tronix's drive to reduce costs and streamline its business, the Board has decided to relocate the Avery Weigh-Tronix international head office from Providence, Rhode Island, USA to Birmingham, UK, and to close the Providence office. Mr. Bowe will be based at the new international headquarters in Birmingham. Reporting to Mr. Bowe will be the following: J. B. Packham Chief Operating Officer, Avery Weigh-Tronix W. Michael Robbins Chief Financial Officer, Avery Weigh-Tronix David R. Castle Director of Operations, World-wide, Avery Weigh-Tronix Timothy J. Cooper Managing Director of Avery Berkel Laurence P. Gunning Corporate Development, Avery Weigh-Tronix Thomas P. O'Connell Vice President and GM of Weigh-Tronix Mr. Bowe stated "I am excited by the opportunity to bring my international experience to Avery Weigh-Tronix. I believe that the Company has established a solid foundation upon which to build and I am looking forward to the task at hand of improving the Company's operations and financial condition." Mr. Bowe has an undergraduate degree in chemistry from Dartmouth College and a Masters of Business Administration from the Amos Tuck School of Business Administration. The appointment of Mr. Bowe to the position of C.E.O. follows the resignation of Mr John J. McCann who will remain as non-executive chairman. Mr. Donald J. MacKenzie, previously Chief Financial Officer, will work to effect a smooth transfer of the head office function to the UK and is expected to leave the Company at the end of October 2002. Weigh-Tronix, LLC, together with its subsidiaries, is a leading manufacturer, marketer and servicer of industrial and retail weighing systems. The Avery Weigh-Tronix Group markets and sells its products in over 100 countries under established brand names, including Avery Berkel, Salter Brecknell and Weigh-Tronix. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. For information, please contact: Mr. Bowe through Avery Weigh-Tronix, in the UK at (44) 121 ###-###-####.
