CHARLOTTE, N.C., Dec. 16, 2021 /PRNewswire/ — NN, Inc. (NASDAQ: NNBR), a diversified industrial company, today announced J. Andrew Wall will join the organization as Senior Vice President and Chief Commercial Officer, effective January 10, 2022. In this newly created executive position, Wall will play an integral role in driving and executing NN’s global commercial strategy, directing global customer sales groups and focusing business development activities. He will also lead activities to leverage revenue synergies across the Mobile Solutions and Power Solutions business segments in targeted growth areas such as electric vehicles, grid infrastructure and power transformation.
“We are pleased to welcome Andrew to our executive team. He will play a vital role in advancing our business growth strategy and capturing additional market share driven by end market megatrends in the electric grid and electric vehicle markets,” said Warren Veltman, President and Chief Executive Officer of NN. “Andrew’s deep experience in driving high performing sales organizations will help ensure that our team continues prioritizing our long-term customer relationships, while also advancing our technologies to deepen our market reach. His more than 15 years of electric power industry experience and extensive industry knowledge, along with his hands-on management style, will be invaluable as we execute on our broader growth strategy.”
“I am excited to join NN’s executive team and am eager to leverage my years of electrical industry experience to enhance NN’s commercial strategy and maximize synergies across NN’s portfolio,” said Mr. Wall. “The Company’s innovative engineering and production capabilities position it to benefit from areas in the market that are experiencing rapid growth and long-term transformational trends. I am looking forward to working alongside such a talented group, as we leverage NN’s core manufacturing capabilities across our businesses to expand our share of wallet with existing customers while targeting new strategic relationships.”
Mr. Wall brings an extensive sales, marketing and operations background in the power and industrial solutions space. Prior to joining the Company, he served in numerous management positions for ABB, Ltd., a publicly held, global manufacturer of heavy electrical equipment and automation technology. Most recently, Mr. Wall served as Vice President, Product Marketing and Sales, Electrification U.S., where he was responsible for leading the creation and implementation of ABB’s U.S. product marketing strategy. Before that, Mr. Wall served as Vice President and General Manager, Power Products Services U.S., where he was in charge of all functional aspects of the business including marketing and sales, project management, factory manufacturing operations, field service operations, and engineering. He serves on the Board of Directors for Research Triangle Cleantech Cluster, an industry-funded, industry-led initiative focused on accelerating cleantech innovation and the cleantech economy of North Carolina. Mr. Wall holds a Bachelor of Science, Business Management from North Carolina State University and a Master of Business Administration from Elon University.
About NN, Inc.
NN, Inc., a diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has 31 facilities in North America, Europe, South America, and China.
Except for specific historical information, many of the matters discussed in this press release may express or imply projections of revenues or expenditures, statements of plans and objectives or future operations or statements of future economic performance. These, and similar statements, are forward-looking statements concerning matters that involve risks, uncertainties and other factors which may cause the actual performance of NN, Inc. and its subsidiaries to differ materially from those expressed or implied by this discussion. All forward-looking information is provided by the Company pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995 and should be evaluated in the context of these factors. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “assumptions”, “target”, “guidance”, “outlook”, “plans”, “projection”, “may”, “will”, “would”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “potential” or “continue” (or the negative or other derivatives of each of these terms) or similar terminology. Factors which could materially affect actual results include, but are not limited to: general economic conditions and economic conditions in the industrial sector, the impacts of the coronavirus (COVID-19) pandemic on the Company’s financial condition, business operations and liquidity, inventory levels, regulatory compliance costs and the Company’s ability to manage these costs, start-up costs for new operations, debt reduction, competitive influences, risks that current customers will commence or increase captive production, risks of capacity underutilization, quality issues, availability and price of raw materials, currency and other risks associated with international trade, the Company’s dependence on certain major customers, and the successful implementation of the global growth plan including development of new products. Similarly, statements made herein and elsewhere regarding pending and completed transactions are also forward-looking statements, including statements relating to the future performance and prospects of an acquired business, the expected benefits of an acquisition on the Company’s future business and operations and the ability of the Company to successfully integrate recently acquired businesses.
For additional information concerning such risk factors and cautionary statements, please see the section titled “Risk Factors” in the Company’s periodic reports filed with the Securities and Exchange Commission, including, but not limited to, the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and, when filed, the Company’s Quarterly Report on Form 10-Q for the three months ended September 30, 2021. Except as required by law, we undertake no obligation to update or revise any forward-looking statements we make in our press releases, whether as a result of new information, future events or otherwise.
FOR FURTHER INFORMATION:
Jeff Tryka, CFA
Investor Relations Contact
jtryka@lambert.com
616-295-2509
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