8-K filed July 11, 2023, 7:59 PM ET ticker VMI CIK 0000102729

leadership confidence high sentiment neutral materiality 0.70

Valmont names CFO Avner Applbaum as President and CEO, replacing Stephen Kaniewski; Timothy Francis interim CFO

VALMONT INDUSTRIES INC

Avner Applbaum, former EVP and CFO since March 2020, appointed President and CEO effective July 11, 2023.
Stephen Kaniewski steps down as CEO and resigns from Board; departure not related to company operations or accounting.
Timothy Francis, SVP Finance Business Partner, named interim CFO.
Applbaum led Valmont's finance organization, IT, and cybersecurity; instrumental in growth strategy execution.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Stephen G. Kaniewski

member of the Board of Directors

VMI · VALMONT INDUSTRIES INC

Effective: 2023-07-11
Filed: July 11, 2023, 7:59 PM ET

who is stepping down to pursue other opportunities and also resigning as a member of the Board of Directors.

Departed

Stephen G. Kaniewski

Chief Executive Officer

VMI · VALMONT INDUSTRIES INC

Effective: 2023-07-11
Successor: Avner M. Applbaum
Filed: July 11, 2023, 7:59 PM ET

Mr. Applbaum succeeds Stephen G. Kaniewski, CEO since December 31, 2017, who is stepping down to pursue other opportunities and also resigning as a member of the Board of Directors.

Role change

Avner M. Applbaum

President and Chief Executive Officer

VMI · VALMONT INDUSTRIES INC

Effective: 2023-07-11
Filed: July 11, 2023, 7:59 PM ET

Valmont Industries, Inc. announced that its Board of Directors has named Avner M. Applbaum, current Executive Vice President and Chief Financial Officer, as President and Chief Executive Officer, effective immediately.

Appointed (interim)

Timothy P. Francis

interim Chief Financial Officer

VMI · VALMONT INDUSTRIES INC

Effective: 2023-07-11
Filed: July 11, 2023, 7:59 PM ET

The company also announced the appointment of Timothy P. Francis, current Senior Vice President and Finance Business Partner, Global Operations, as interim Chief Financial Officer.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.9

Stephen G. Kaniewski departed as member of the Board of Directors at VALMONT INDUSTRIES INC.

Action: resigning
Role: member of the Board of Directors

Exact text from the filing

who is stepping down to pursue other opportunities and also resigning as a member of the Board of Directors.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Stephen G. Kaniewski departed as Chief Executive Officer at VALMONT INDUSTRIES INC.

Action: stepping down
Role: Chief Executive Officer

Exact text from the filing

Mr. Applbaum succeeds Stephen G. Kaniewski, CEO since December 31, 2017, who is stepping down to pursue other opportunities and also resigning as a member of the Board of Directors.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Avner M. Applbaum was named as President and Chief Executive Officer at VALMONT INDUSTRIES INC.

Action: named
Role: President and Chief Executive Officer

Exact text from the filing

Valmont Industries, Inc. announced that its Board of Directors has named Avner M. Applbaum, current Executive Vice President and Chief Financial Officer, as President and Chief Executive Officer, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Timothy P. Francis was appointed as interim Chief Financial Officer at VALMONT INDUSTRIES INC.

Action: appointed
Role: interim Chief Financial Officer

Exact text from the filing

The company also announced the appointment of Timothy P. Francis, current Senior Vice President and Finance Business Partner, Global Operations, as interim Chief Financial Officer.

View on SEC.gov

VALMONT INDUSTRIES INC filing history →

Source: SEC EDGAR

accession 0001104659-23-079821

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