Accuride Corporation Announces Chairman of the Board and Executive Management Appointments.EVANSVILLE, Ind. -- Today, Accuride Corporation (NYSE NYSE See: New York Stock Exchange :ACW ACW Arts Council of Wales (UK) ACW Arts Council of Wales ACW American Civil War ACW Alliance for Computers and Writing ACW Air Control Wing ACW After Call Work (call centers) ) announced Chairman of the Board and executive management appointments. The changes are effective immediately. * Terrence J. Keating, Accuride's current Chief Executive Officer and member of the Board of Directors has been named Chairman of the Board and will continue as the Company's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Mr. Keating succeeds James H. Greene, Jr., as Chairman. Mr. Greene will remain on the Board as the Lead Independent Director. * John R. Murphy, currently Accuride's President and Chief Financial Officer, will assume responsibilities of Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. and continue as President. * David K. Armstrong, Accuride's current Senior Vice President / Finance and General Counsel, has been named Senior Vice President / Chief Financial Officer and will continue as General Counsel. * Stephen A. Martin has been named Vice President / Corporate Counsel. Mr. Martin previously served as Accuride's Associate General Counsel. "Today's appointments reflect a logical progression of Accuride's executive management team," said Mr. Greene, Member, KKR KKR Korringa-Kohn-Rostoker (method) KKR Kohlberg, Kravis & Roberts & Co. KKR Kalkara (postal locality, Malta) KKR Kramers-Kronig Relations KKR Komarappa Gounder Ramalingam (hospital in India) , LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , the general partner of Kohlberg Kravis Roberts Kohlberg Kravis Roberts & Co (commonly referred to as KKR) is a New York City-based private equity firm that focuses primarily on late-stage leveraged buyouts. It was founded in 1976 by Jerome Kohlberg, Jr., and cousins Henry Kravis and George R. & Co., and outgoing Chairman of Accuride's Board. "The changes in senior leadership accountabilities allow for the continued pursuit of Accuride's strategic business initiatives, and are in support of the seamless succession planning at the Company." As a result of the appointments, Armstrong and Murphy will both report directly to Keating. "As Chairman of the Board and CEO of Accuride, I will continue to drive Accuride's strategic plan calling for further optimization of our facilities and pursuit of global expansion," said Mr. Keating. "The new assignments of our key leaders will allow for intensified focus on these business initiatives, while strengthening the versatility of our topside management team." Accuride Corporation is one of the largest and most diversified manufacturers and suppliers of commercial vehicle components in North America. Accuride's products include commercial vehicle wheels, wheel-end components and assemblies, truck body and chassis parts, seating assemblies and other commercial vehicle components. Accuride's products are marketed under its brand names, which include Accuride, Gunite gun·ite n. A concrete mixture that is sprayed from a special gun over steel reinforcements in light construction. [Originally a trademark.] Noun 1. , Imperial, Bostrom, Fabco, and Brillion. For more information, visit Accuride's website at http://accuridecorp.com. Safe Harbor Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 for Accuride Corporation: All comments relating to any future period are forward-looking statements, subject to uncertainties and risk that could cause actual results to vary materially from what is suggested here. These statements are subject to risks and uncertainties, including without limitation, the general market conditions, the performance of the Company's business and other risks detailed from time-to-time in Accuride's filings and reports with the Securities and Exchange Commission. |
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