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Global Power Equipment Group Announces Changes - Creating Organization for the FutureIRVING, Texas, Nov 9, 2012 (GlobeNewswire via COMTEX) -- Global Power Equipment Group Inc. (Nasdaq:GLPW) ("Global Power" or "Company") has announced changes to its executive leadership team. "We are pleased to announce several additions to our executive team that we believe will enable us to achieve our strategic objective of transforming Global Power from a product-centric business to a customer value focused organization," Luis Manuel Ramírez, President and Chief Executive Officer of Global Power said. "We expect that these changes to our executive team will position us well as we establish a high-performing culture." -- Penny Sherrod-Campanizzi has been named President of Energy, Parts and Control Solutions for the Products Division and is responsible for the operations and sales growth of the recent acquisitions combined with Global Power's Consolidated Fabricators business. Ms. Sherrod-Campanizzi joined Global Power in 2010 as Senior Vice President of Operations and Support. She has over 30 years experience in the power generation industry including leadership roles at Babcock and Wilcox. -- Scott Snow recently joined Global Power as Senior Vice President and Global Commercial Leader. He is responsible for driving commercial growth and will focus on establishing commercialization strategies to deliver long-term growth. Mr. Snow spent 14 years at GE Energy where he held a variety of commercial leadership positions in the natural gas generation services business. More recently, Mr. Snow served as Senior Vice President and Commercial Leader at APR Energy. -- Effective November 12, 2012, Melanie Barth will join Global Power as Chief Human Resources Officer. In her role, Ms. Barth will lead talent and organizational development strategies for Global Power. For the last 20 years, Ms. Barth has established a proven track record attracting and retaining top talent and building strong global leadership teams. Most recently, Ms. Barth was Vice President, Human Resources, Research and Development of Alcon, the eye-care division of Novartis. Prior to Alcon, Ms. Barth spent thirteen years with Celanese where she held positions such as Head, Global Talent Management and Global HR Business Partner. -- J.D. Whittenburg joined Global Power as Director of Corporate Communications. He is responsible for overseeing, developing and implementing strategic communications to promote the Company's growth and transformation. Mr. Whittenburg has approximately 15 years of experience in the energy industry in various corporate communications leadership roles, most recently at Atmos Energy. Mr. Snow, Ms. Sherrod-Campanizzi, Ms. Barth and Mr. Whittenburg will report directly to the Company's President and Chief Executive Officer. Other recent leadership changes and appointments include: -- Brian Nason has been named Vice President and General Manager of Energy Parts. He will be responsible for integrating Consolidated Fabricators and TOG Holdings (acquired September 2012). Mr. Nason was previously General Manager of Consolidated Fabricators and has been with Global Power since 1996. -- Stuart Jones joined Global Power as Vice President and Treasurer. He will focus on positioning the Company's financial structure to achieve strategic and financial growth objectives. Previously, Mr. Jones served as Director of Financial Planning and Analysis for Safety-Kleen, and most recently as Assistant Treasurer for Flowserve Corporation. About Global Power Texas-based Global Power Equipment Group Inc. is a design, engineering and manufacturing firm providing a broad array of equipment and services to the global power infrastructure, energy and process industries. Through its Services Division, the Company provides on-site specialty support and outage management services for commercial nuclear reactors in the United States and maintenance services to fossil and hydroelectric power plants and other industrial operations. Through its Products Division, the Company designs, engineers and manufactures a comprehensive portfolio of equipment for gas turbine power plants and power-related equipment for industrial operations, with over 40 years of power generation industry experience. With a strong competitive position in its product lines, the Company benefits from a large installed base of equipment in domestic and international markets. Additional information about Global Power Equipment Group Inc. may be found at www.globalpower.com. The Global Power Equipment Group Inc. Logo is available at //www.globenewswire.com/newsroom/prs/ pkgid=13362 Forward-looking Statement Disclaimer This press release contains "forward-looking statements" within the meaning of that term set forth in the Private Securities Litigation Reform Act of 1995. These statements reflect our current views of future events and financial performance and are subject to a number of risks and uncertainties. Our actual results, performance or achievements may differ materially from those expressed or implied in the forward-looking statements. Risks and uncertainties that could cause or contribute to such material differences include, but are not limited to, decreased demand for new gas turbine power plants, reduced demand for, or increased regulation of, nuclear power, loss of any of our major customers, cost increases and project cost overruns, unforeseen schedule delays, poor performance by our subcontractors, cancellation of projects, competition for the sale of our products and services, shortages in, or increases in prices for, energy and materials such as steel that we use to manufacture our products, damage to our reputation, warranty or product liability claims, increased exposure to environmental or other liabilities, failure to comply with various laws and regulations, failure to attract and retain highly-qualified personnel, volatility of our stock price, deterioration or uncertainty of credit markets, and changes in the economic, social and political conditions in the United States and other countries in which we operate, including fluctuations in foreign currency exchange rates, the banking environment or monetary policy. Other important factors that may cause actual results to differ materially from those expressed in the forward-looking statements are discussed in our filings with the Securities and Exchange Commission, including the section of our Annual Report on Form 10-K filed with the SEC on March 14, 2012 titled "Risk Factors." Except as may be required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, and we caution you not to rely upon them unduly. This news release was distributed by GlobeNewswire, www.globenewswire.com SOURCE: Global Power Equipment Group Inc. (Logo: http://media.primezone.com/cache/12976/int/14273.jpg) CONTACT: Global Power Media Contact J.D. Whittenburg Phone: (214) 574-2726 Email: [email protected] Investor Relations: Deborah K. Pawlowski, Kei Advisors LLC Phone: (716) 843-3908 Email: [email protected] |
