TB Wood's Corporation Announces Retirement of Michael L. Hurt, President and Appointment of James R. Swenson as Interim CEO
November 07 2003 - 5:00PM
PR Newswire (US)
TB Wood's Corporation Announces Retirement of Michael L. Hurt,
President and Appointment of James R. Swenson as Interim CEO
CHAMBERSBURG, Pa., Nov. 7 /PRNewswire-FirstCall/ -- TB Wood's
Corporation announced that Michael L. Hurt, its President and Chief
Executive Officer, will retire, effective November 14, 2003, and
that James R. Swenson has been appointed Interim Chief Executive
Officer. Mr. Hurt has agreed to be a consultant to the Company but
will resign as a director of the Company. Mr. Swenson, a current
member of the Board of the Directors of the Company, has been
active in the industrial power transmission industry for his entire
career. The Board of Directors expresses its appreciation to Mike
for all the significant contributions that he made to TB Wood's
during his almost thirteen years of leadership. The Board wishes
him an enjoyable, long and healthy retirement. TB Wood's
(http://www.tbwoods.com/) is an established designer, manufacturer
and marketer of electronic and mechanical industrial power
transmission products, which are sold to North American and
international manufacturers and users of industrial equipment.
Headquartered in Chambersburg, Pennsylvania, the Company operates
production facilities in the United States, Mexico, Germany, Italy
and India. This press release contains statements that are
forward-looking within the meaning of applicable securities laws.
These statements include or imply projections of future performance
that are based upon the Company's expectations and assumptions.
These expectations and assumptions, as well as the Company's future
performance are subject to a number of risks and uncertainties.
Factors that could cause actual results to differ from projected
results are discussed in various of the Company's documents filed
with the SEC. Contact: Joseph C. Horvath, Chief Financial Officer
717-264-7161 Extension 4465 DATASOURCE: TB Wood's Corporation
CONTACT: Joseph C. Horvath, Chief Financial Officer, TB Wood's
Corporation, +1-717-264-7161 Extension 4465 Web site:
http://www.tbwoods.com/
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