SPECIALTY EQUIPMENT COMPANIES, INC.
BELVIDERE, Ill., Nov. 19 /PRNewswire/ -- Specialty Equipment Companies, Inc. announced today that its president and chief executive officer, James B. Knoll, died on Wednesday evening. The board of directors has elected Daniel B. Greenwood to assume those positions on an interim basis. Greenwood, who is also chairman of the board, previously served as chief executive officer of the company for many years. Carrying out a plan announced by Knoll in September, the board ratified Greenwood's appointment of an operating committee, consisting of Donald McKay, chief financial officer; William Robertson, president of the Beverage-Air Division; and Jeffrey Rhodenbaugh, executive vice president of marketing, as chairman of the committee. The committee will assist Greenwood with respect to the operating activities of the company. The board resolved to initiate a process to identify and elect a successor to Greenwood as president and chief executive officer and to complete that process as promptly as practicable. The company also announced it was continuing with its pending note offering. Specialty Equipment Companies, Inc., is a leading domestic manufacturer of a diversified line of highly engineered commercial and institutional food service equipment. Its products are used by a variety of quick-service restaurant chains, convenience store chains, specialty chains, soft drink bottlers and institutional food service operations. The company is based in Belvidere, Ill. -0- 11/19/93 /CONTACT: Don McKay, 815 544-5111, for Specialty Equipment Companies/
CO: Specialty Equipment Companies, Inc. ST: Illinois IN: SU: PER
TW-PS -- NY035 -- 6506 11/19/93 11:40 EST
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|Date:||Nov 19, 1993|
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