Argan, Inc. Announces Chief Financial Officer Retirement and Succession
August 21 2024 - 4:15PM
Business Wire
Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) today
announces that Chief Financial Officer, Richard H. Deily, 71, will
retire effective September 15, 2024, after a distinguished 40-year
career in senior financial management, which includes a 17-year
tenure with the Company. Josh Baugher, who has served as Vice
President and Corporate Controller for Argan since 2022, will
succeed Mr. Deily as Chief Financial Officer.
Mr. Deily joined Argan in October 2007 as Corporate Controller
and was named Vice President, Corporate Controller in January 2015.
He has served as Chief Financial Officer since August 2022. Before
joining Argan, his career included senior financial management
roles with publicly traded companies in various industries,
including construction, commercial software, telecommunications,
government contracting and electronics manufacturing.
David Watson, President and Chief Executive Officer of Argan,
commented, “On behalf of the entire Argan team and Board, I would
like to thank Hank for his valuable contributions during his 17
years with the Company. He has been integral to our creation of a
first-in-class finance organization, and we are appreciative of his
dedication to Argan’s success. As a testament to his commitment and
loyalty to the team, Hank will continue to help in a reduced role
to ensure this transition is a success. Most importantly, we wish
him all the best in his well-earned retirement.”
Josh Baugher brings nearly 20 years of financial leadership,
strategic insight, and accounting experience. Prior to joining
Argan, Mr. Baugher oversaw the financial reporting and technical
accounting at Charles River Associates (NASDAQ: CRAI), an
international consulting firm headquartered in Boston. Mr. Baugher
began his career at CohnReznick, a top 20 national accounting firm,
where he managed a diverse portfolio of clients, including
developers, residential and commercial real estate entities, asset
managers, tax-credit syndicators, investment funds, and loan
originators and servicers. Throughout his career, he has provided
technical and operational guidance on corporate development,
business process improvements, and other accounting and finance
matters. A licensed Certified Public Accountant in the State of
Maryland, Mr. Baugher holds a Bachelor of Science degree in
accounting from George Mason University.
“Josh has been a pivotal member of our finance team and has
worked closely with both Hank and me in all facets of our financial
reporting and strategies. His financial accounting and reporting
skills are very strong, and he has a solid understanding of Argan’s
priorities as they relate to capital allocation, and his
appointment to the CFO role reflects the strength of our team and
thoughtful succession planning. I look forward to working with Josh
in his new role,” Mr. Watson concluded.
Safe Harbor Statement
Certain matters discussed in this press release may constitute
forward-looking statements within the meaning of the federal
securities laws. Reference is hereby made to the cautionary
statements made by the Company with respect to risk factors set
forth in its most recent reports on Form 10-K, Forms 10-Q and other
SEC filings. The Company’s future financial performance is subject
to risks and uncertainties including, but not limited to, the
successful addition of new contracts to project backlog, the
receipt of corresponding notices to proceed with contract
activities, and the Company’s ability to successfully complete the
projects that it obtains. Actual results and the timing of certain
events could differ materially from those projected in or
contemplated by the forward-looking statements due to the risk
factors highlighted above and described regularly in the Company’s
SEC filings.
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version on businesswire.com: https://www.businesswire.com/news/home/20240821885787/en/
Company Contact: David Watson 301.315.0027
Investor Relations Contacts: John Nesbett/Jennifer
Belodeau IMS Investor Relations 203.972.9200
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