EVANSVILLE, Ind. – April 24, 2012 – Accuride Corporation (NYSE: ACW), a leading supplier of components to the commercial vehicle industry, today announced that William M. Lasky has stepped down from his role as Chairman of Accuride’s Board of Directors, as of today. Accuride last month announced Lasky’s decision not to seek re-election following the conclusion of his term today. His departure concludes more than three-and-a-half years of dedicated service to Accuride Corporation during an important period in the company’s development.
Lasky served as Accuride’s Interim President and Chief Executive Officer from September 2008 to February 2011 while the Company searched for a permanent replacement to the previous CEO. During that time he led the Company through a successful four-month restructuring, preserving existing customer and supplier relationships, and secured relisting of the Company’s Common Stock on the New York Stock Exchange in December 2010. Lasky continued to serve as Chairman of the Board of Directors until the conclusion of his current term today.
“Rick Dauch has done a tremendous job as President and CEO of Accuride during the past year,” said Lasky. “He and his leadership team have made significant progress in developing and executing the Company’s ‘Fix and Grow’ strategy and are solidly on track to restore Accuride as a dependable supplier to customers and profitable investment for stockholders. I am confident that the Company’s future is in capable hands.”
Accuride’s Board of Directors has elected its Lead Independent Director John W. Risner as Chairman of the Board of Directors, effective immediately. A member of Accuride’s Board since February 2010, Risner brings extensive expertise in finance, directorship and corporate governance to his new role. He has served as President of The Children’s Tumor Foundation since 2005, after joining the Foundation as Treasurer in 2002. From 1997 to 2002, Risner served as a Senior Vice President and Senior Portfolio Manager – High Yield Bonds at AIG/Sun America Asset Management. From 1991 to 1997, he was Vice President – Senior Portfolio Manager at Value Line Asset Management. Risner serves on the board of directors, audit and finance committees of NII Holdings, and previously served on the board of directors of Airgate PCS and UGC Europe. He earned a Bachelor of Science degree from the University of Maryland, an M.B.A. from Fordham University, and is a Chartered Financial Analyst.
“On behalf of Accuride’s Board of Directors, I would like to express my deep appreciation to Bill for his service to the Company,” said Risner. “Bill stepped forward to lead Accuride through a challenging and pivotal period in the Company’s history as Interim President and CEO and then remained in a leadership role to ensure a smooth transition to the new Board of Directors and Rick Dauch as the succeeding Chief Executive Officer. He leaves the Board with Accuride well positioned for future growth and development. I look forward to working closely with the Board and Accuride’s leadership team to continue those efforts.”
With headquarters in Evansville, Ind., Accuride Corporation is a leading supplier of components to the 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®, 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
Phone: (812) 962-5041
Timothy Weir, APR
Director of Public Affairs, Communications and Marketing
Phone: (812) 962-5128