EVANSVILLE, Ind. – May 28, 2013 – Accuride Corporation (NYSE: ACW), a leading supplier of components to the North American commercial vehicle industry, announced that its shareholders elected Robin J. Adams and James R. Rulseh to serve on the Company’s Board of Directors during Accuride’s 2013 Annual Meeting of Stockholders held today. The election of Messrs. Adams and Rulseh fills the vacancies created by today’s departures of former Directors Stephen S. Ledoux and Benjamin C. Duster, IV.
“We are very pleased to have Robin and Jim join our Board, bringing with them a wealth of strategic and operational leadership experience gained from their decades of service to the global transportation industries,” said Accuride President and CEO Rick Dauch. “Their deep international operations and corporate finance expertise will strengthen our pursuit of strategic opportunities as we grow Accuride organically, as well as through potential acquisitions and partnerships. Their election serves to further diversify our Board, bringing proven counsel and fresh perspectives to our ongoing efforts to add value to shareholders.”
In addition to Messrs. Adams and Rulseh, the Company’s stockholders re-elected current Board members Keith E. Busse, Richard F. Dauch, Robert E. Davis, Lewis M. Kling, and John W. Risner to hold office until the 2014 annual meeting. Davis was elected by stockholders for the first time, after being appointed to the Board earlier this year pursuant to an agreement between Accuride and its largest shareholder Cetus Capital and certain of its affiliates reached in December 2012. Messrs. Ledoux and Duster chose not to stand for re-election and instead conclude their service at the end of their terms today. Both based their decisions on the additional time commitments and significant international travel now required of them due to recently assuming additional responsibilities in their professional careers.
“On behalf of the Board of Directors, I would like to extend our sincere appreciation to Ben Duster and Steve Ledoux for their dedicated service while members of Accuride’s Board of Directors,” said John Risner, Chairman of the Board of Directors. “Their financial and strategic expertise was of great benefit during Accuride’s successful transition from financial to operational restructuring central to the Company’s ‘Fix and Grow’ strategy.”
Robin J. Adams had been a long-standing executive with BorgWarner Inc., a leading, global supplier of highly engineered systems and components, primarily for vehicle powertrain applications. He served as Vice Chairman (from March 2012), Chief Financial Officer (from April 2004 to March 2012) and Chief Administrative Officer (from April 2004), as well as a member of its board of directors. In April 2013, he retired from BorgWarner and stepped down from its board of directors. Prior to BorgWarner, Mr. Adams had served as Executive Vice President—Finance and Chief Financial Officer of American Axle & Manufacturing (AAM) from July 1999 until April 2004. Earlier, he was Vice President and Treasurer and Principal Financial Officer of BorgWarner from May 1993 until June 1999.
Mr. Adams serves as a director of Carlisle Companies, Inc., and is a member of the Audit and Compensation Committees. He holds a B.A. in Business Administration from North Park University and an MBA from DePaul University. Mr. Adams’ 37 years of experience in the transportation industry, executive and financial leadership experience at two publicly traded U.S. companies over the last 20 years, and public company board experience make him well-qualified to serve on the Accuride Board of Directors.
James R. Rulseh currently serves as President of JRR & Associates, LLC, an independent manufacturing consultancy focused on operations improvement and operational leadership excellence, and as Senior Advisor to Evergreen Pacific Partners. From 2009 – 2011, he was Chief Operating Officer of Tulip Corporation, a private manufacturer. Previously, Mr. Rulseh had a 32-year career with Modine Manufacturing Company – a public, diversified global leader in thermal management technology and solutions – and served in the following roles: Special Assistant to the Chief Executive Officer from January 2009 to October 2009; Regional Vice President—Americas from October 2007 to January 2009; Regional Vice President—Asia from November 2006 to October 2007; Group Vice President from April 2001 to November 2006; and Managing Director of the Automotive Business Unit of Modine Europe, from 1998 to March 2001. Prior to that, he held various other positions with Modine beginning in 1977.
Mr. Rulseh serves as Lead Director of Woodward, Incorporated and is a member of its Compensation, Nominating and Governance Committees, and previously served on the Audit Committee. He holds a Bachelor of Science degree in Industrial Technology from the University of Wisconsin—Platteville and completed the Kellogg School of Management—Advanced Executive Education Program in 2003. Mr. Rulseh’s senior executive-level experience in international manufacturing and business restructurings, as well as his experience as a public company director, qualify him to serve on Accuride’s Board of Directors.
About Accuride Corporation
With headquarters in Evansville, Ind., USA, Accuride Corporation is a leading supplier of components to the North American commercial vehicle industry. The company’s products include commercial vehicle wheels, wheel-end components and assemblies, truck body and chassis parts, and other commercial vehicle components. The company’s products are marketed under its brand names, which include Accuride®, Accuride Wheel End SolutionsTM, Gunite®, ImperialTM and BrillionTM. Accuride’s common stock trades on the New York Stock Exchange under the ticker symbol ACW. For more information, visit the Company’s website at https://www.accuridecorp.com.
Director of Corporate Development
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