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Standex Announces Key Management Appointments
August 05, 2015
SALEM, N.H.--(BUSINESS WIRE)--Standex International Corporation (NYSE:SXI) today announced that it has named Paul Burns as Vice President of Strategy and Business Development, effective immediately, and Ross McGovern as Vice President of Human Resources, effective August 17. As Vice President of Strategy and Business Development, Burns will be responsible for the Standex Growth Disciplines and the company’s merger, acquisition and divestiture processes which are components of our long term strategy. As Vice President of Human Resources, McGovern will develop the talent management strategies which are also part of our long term strategy. “Talent management and the Standex Growth Disciplines are two vital pillars of our Value Creation System, and I am delighted to welcome these accomplished executives to lead them,” said President and CEO David Dunbar.
“Paul brings a wealth of experience and significant expertise in strategic growth management on a global scale, including mergers and acquisitions,” said Dunbar. “He will lead the Standex Growth Discipline Process to evaluate new market entry opportunities, prioritize business initiatives and investments, and lead the M&A and divestiture process.”
“Developing the right talent across the Standex organization to execute effectively on our growth strategies will be key to our success, and Ross has the right skills and experience to lead this effort,” said Dunbar. “Ross has a proven track record of developing global human resource strategies to drive growth, and has successfully built effective HR teams in the US, Asia Pacific and EMEA regions. This experience will be valuable as we build and expand our global organization.1”
Paul Burns has 20 years of experience in strategic growth management. He served for the past three years as Director of Corporate Development and Global Mergers & Acquisitions at General Motors. Before that, Burns was Director of Strategy and Business Development at Tyco Flow Control for two years. Prior to these roles, he served as an Engagement Manager for McKinsey and Company focused on strategic growth initiatives in the Oil and Gas industry. He began his professional career as an investment banker and analyst focused on mergers and acquisitions for the Australia New Zealand Bank, JP Morgan Chase and Petrie Parkman. During his career Burns has lived and worked in London, England and Sydney, Australia and has significant experience in completing deals in both Europe and the Pacific Rim and Asia. He holds a Master of Philosophy in Contemporary European Studies from the University of Cambridge, England, an M.B.A. from the University of Edinburgh, Scotland, and a Bachelor of Business Administration and a Bachelor of Arts in History from the University of Texas at Austin.
Ross McGovern has 15 years of international HR leadership experience in global roles in the US and Europe. Prior to joining Standex, McGovern was Director of Human Resources, International & Supply Chain for Keurig Green Mountain, and Vice President, Human Resources at DATACOLOR, a global color management solutions company. He spent 10 years at General Electric Company in positions of increasing responsibility, culminating as Global HR Management – Molecular Imaging & R&D for GE Healthcare. McGovern holds an MSc in Human Resources Management from the University of Strathclyde, in Glasgow, Scotland, and a Master of Arts in English and Politics from the University of Glasgow.
Standex International Corporation is a multi-industry manufacturer in five broad business segments: Food Service Equipment Group, Engineering Technologies Group, Engraving Group, Electronics Products Group, and Hydraulics Products Group with operations in the United States, Europe, Canada, Australia, Singapore, Mexico, Brazil, Argentina, Russia, Turkey, South Africa, India, Malaysia, Korea and China. For additional information, visit the Company's website at www.standex.com.
1 Safe Harbor Language
Statements in this news release include, or may be based upon, management's current expectations, estimates and/or projections about Standex's markets and industries. These statements are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may materially differ from those indicated by such forward-looking statements as a result of certain risks, uncertainties and assumptions that are difficult to predict. Among the factors that could cause actual results to differ are the impact of implementation of government regulations and programs affecting our businesses, unforeseen legal judgments, fines or settlements, uncertainty in conditions in the financial and banking markets, general domestic and international economy including more specifically increases in raw material costs, the ability to substitute less expensive alternative raw materials, the heavy construction vehicle market, the ability to continue to successfully implement productivity improvements, increase market share, access new markets, introduce new products, enhance our presence in strategic channels, the successful expansion and automation of manufacturing capabilities and diversification efforts in emerging markets, the ability to continue to achieve cost savings through lean manufacturing, cost reduction activities, and low cost sourcing, effective completion of plant consolidations, successful completion and integration of acquisitions and the other factors discussed in the Annual Report of Standex on Form 10-K for the fiscal year ending June 30, 2014, which is on file with the Securities and Exchange Commission, and any subsequent periodic reports filed by the Company with the Securities and Exchange Commission. In addition, any forward-looking statements represent management's estimates only as of the day made and should not be relied upon as representing management's estimates as of any subsequent date. While the Company may elect to update forward-looking statements at some point in the future, the Company and management specifically disclaim any obligation to do so, even if management's estimates change.