News / NN, Inc. To Hold Second Quarter 2023 Earnings Conference Call on Friday, August 4, 2023
NN, Inc. To Hold Second Quarter 2023 Earnings Conference Call on Friday, August 4, 2023
Changes Will Unify Sales and Operations Across the Business
CHARLOTTE, N.C., Aug. 01, 2023 (GLOBE NEWSWIRE) — NN, Inc. (NASDAQ: NNBR), a global diversified industrial company that manufactures high-precision components and assemblies, today announced the promotion of three senior leaders to new roles. These leadership appointments are a part of a broader strategy to help ensure NN’s leadership in helping its customers grow, delivering precision engineered products, and better enabling growth for the company. The three promotions elevate these leaders to the Vice President and General Manager role for each of NN’s two groups and for Asia Pacific, and are as follows:
- Douglas Campos will lead the Company’s Mobile Solutions Group;
- Gunars Vinkels will lead the Company’s Power Solutions Group; and,
- Jeff Fenwick will lead the Company’s Asia/Pacific region, which encompasses both Mobile and Power Solutions plants.
Douglas Campos is a 19-year veteran of NN and brings engineering, operations, and sales experience to his new role. Mr. Campos began his career in his native country of Brazil, rising through the ranks from commercial and sales roles through operations, Brazil market leadership, and ultimately to the COO of Mobile Solutions, a role he has held since 2022. Mr. Campos holds bachelor’s and master’s degrees in chemical engineering from Federal University of Rio de Janeiro and received his MBA from Fundacao Dom Cabral in Brazil.
“Our customers are facing a number of market pressures and ongoing changes,” said Harold Bevis, NN’s President and Chief Executive Officer. “Douglas is the right leader to drive growth for the business as demand for our products evolves. We remain focused on delivering best-in-class components to our customers, and Douglas brings the deep experience in customer success, sales, and the engineering necessary to deliver critical value.”
Gunars Vinkels is a 30-year veteran of NN and its acquired companies, with expertise in engineering and all aspects of operations. Mr. Vinkels began his career as a manufacturing engineer at Precision Engineered Products (PEP) and helped build the organization’s market presence in China before PEP was acquired by NN in 2015. In his new role, he is responsible for growing the Power Solutions Group’s presence within the automotive, defense, aerospace, industrial, and other markets.
Mr. Bevis said, “Gunars brings a wealth of experience to this role. As a company with a global footprint and employees around the world, we see significant potential for innovation and growth for the business, and I’m confident in Gunars’ ability to accelerate NN’s growth while meeting the needs of our customers.”
Jeff Fenwick, a 12-year veteran of NN, brings deep experience in engineering, operations management, and new business development with strong ties to China as General Manager of NN, Inc.’s joint venture with Weifu High Technology Group (“Weifu”) for three years. In his new role, Mr. Fenwick is responsible for unifying multiple China sales and manufacturing operations to drive a consistent strategy and market approach, which will help NN accelerate growth both in China and globally.
NN operates three production facilities in China. Its Foshan City plant produces high-quality metal stampings, electrical contacts, and plastic molding parts, while two facilities in Wuxi – including the Weifu joint venture – produce high-performance precision machined components. Collectively, these facilities serve high-profile customers across the automotive, aerospace, medical, and industrial sectors.
“Our team in China does important work within the market and has the potential to achieve even broader reach as we grow as a company,” Mr. Bevis said. “As an engineer, Jeff understands what our customers need. He’s an experienced leader with the talent to unify our teams in China and establish NN as a preeminent supplier not only within the region, but in support of our customers worldwide.”
About NN, Inc.
NN, Inc., a global diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has facilities in North America, Europe, South America, and Asia. For more information about the company and its products, please visit www.nninc.com.
Forward Looking Statements
Except for specific historical information, many of the matters discussed in this press release may express or imply projections of revenues or expenditures, statements of plans and objectives or future operations or statements of future economic performance. These statements may discuss goals, intentions and expectations as to future trends, plans, events, results of operations or financial condition, or state other information relating to NN, Inc. based on current beliefs of management as well as assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,”, “will” “possible,” “potential,” “predict,” “project” or other similar words, phrases or expressions. Forward-looking statements involve a number of risks and uncertainties that are outside of management’s control and that may cause actual results to be materially different from such forward-looking statements. Such factors include, among others, general economic conditions and economic conditions in the industrial sector; the impacts of pandemics, epidemics, disease outbreaks and other public health crises, including the COVID-19 pandemic, on our financial condition, business operations and liquidity; competitive influences; risks that current customers will commence or increase captive production; risks of capacity underutilization; quality issues; material changes in the costs and availability of raw materials; economic, social, political and geopolitical instability, currency fluctuation, and other risks of doing business outside of the United States; inflationary pressures and changes in the cost or availability of materials, supply chain shortages and disruptions, and the availability of labor; our dependence on certain major customers, some of whom are not parties to long-term agreements (and/or are terminable on short notice); the impact of acquisitions and divestitures; our ability to hire or retain key personnel; the level of our indebtedness; the restrictions contained in our debt agreements; our ability to obtain financing at favorable rates, if at all, and to refinance existing debt as it matures; unanticipated difficulties integrating acquisitions; new laws and governmental regulations; the impact of climate change on our operations; and cyber liability or potential liability for breaches of our or our service providers’ information technology systems or business operations disruptions. The foregoing factors should be not be construed as exhaustive and should be read in conjunction with the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s filings made with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. The Company qualifies all forward-looking statements by these cautionary statements.
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