With deep sadness, Columbus McKinnon Corporation (Nasdaq: CMCO), a leading designer and manufacturer of motion control products, technologies, automated systems and services for material handling, today announced the passing of Director R. Scott Trumbull on Saturday, August 29, 2020, after a long illness.
Richard Fleming, Chairman of the Board, commented, Scott has been an invaluable member of the Board of Directors since 2014, and we have benefited mightily from his superb leadership skills, broad industrial experience, wise counsel, and strategic insights. His many contributions to Columbus McKinnon will have a lasting impact on us for years to come. We are deeply appreciative of his service to our Board and Company, and our thoughts and prayers are with his family. We will miss him terribly.
Mr. Trumbull served as the Chairman of the Compensation & Succession Committee as well as a member and former Chairman of the Audit Committee. During his business career, he was the Non-Executive Chairman of the Board of Franklin Electric Company, INC. (Nasdaq: FELE) until his retirement in May 2015. Mr. Trumbull joined the Board of Franklin Electric in 1998 and was elected Chairman and Chief Executive Officer of the Company in 2002 until his retirement in May 2014. Prior to joining Franklin Electric, Mr. Trumbull began his career at Owens-Illinois in 1972, progressively advancing through various operational and leadership positions to the role of Executive Vice President and Chief Financial Officer. Over the years, Mr. Trumbull has also served on the Board of Directors of Welltower, Inc (NYSE: HCN) and Schneider National, Inc (NYSE: SNDR).
About Columbus McKinnon
Columbus McKinnon is a leading worldwide designer, manufacturer and marketer of motion control products, technologies and automated systems and services that efficiently and ergonomically move, lift, position, and secure materials. Key products include hoists, crane components, actuators, rigging tools, light rail work stations, and digital power and motion control systems. The Company is focused on commercial and industrial applications that require the safety and quality provided by its superior design and engineering know-how. Comprehensive information on Columbus McKinnon is available at www.columbusmckinnon.com.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements concerning the continued influence of a retired directors contribution, involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including the impact of COVID-19, the effectiveness of the Companys 80/20 Process to simplify operations, the ability of the Companys Operational Excellence initiatives to drive profitability, global economic and business conditions, conditions affecting the industries served by the Company and its subsidiaries, conditions affecting the Company’s customers and suppliers, competitor responses to the Company’s products and services, the overall market acceptance of such products and services, the ability to expand into new markets and geographic regions, and other factors disclosed in the Company’s periodic reports filed with the Securities and Exchange Commission. The Company assumes no obligation to update the forward-looking information contained in this release.
Gregory P. Rustowicz
Vice President – Finance and Chief Financial Officer
Columbus McKinnon Corporation
Deborah K. Pawlowski
Kei Advisors LLC