American Vanguard Hires Chief Transformation Officer

Rhea-AI Summary

American Vanguard Corporation (NYSE: AVD) has appointed Don Gualdoni as the Chief Transformation Officer to lead the implementation of a three-pronged plan aimed at improving operating leverage, aligning people and processes, and enhancing profit. The plan includes identifying $15 million in operating profit and interest savings, working on digital transformation with QAD and Kearney, and launching an organizational transformation. Gualdoni's extensive experience in leadership roles and corporate system optimizations makes him ideally suited for this role.

NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- American Vanguard Corporation (NYSE: AVD) announces that it has hired Don Gualdoni to the newly-created position of Chief Transformation Officer. Mr. Gualdoni brings to this assignment over 25 years’ experience in various leadership roles during which he has led several large, complex transformation projects. He joins us most recently from Teradata (a San Diego-based software company) and was formerly with McKinsey & Company.

Chairman and CEO, Eric G. Wintemute stated, “We are excited to welcome Don on board as our first CTO. He will be critical to the successful implementation of the three-pronged plan that we announced last month to improve operating leverage and align people and processes with enhanced profit. First, we have identified approximately $15 million in operating profit and interest savings to which we will be holding our managers accountable. Second, we are two years into a digital transformation and are now working with both our ERP sponsor, QAD, and global business consultant, Kearney, to expedite and expand the effort among all business centers and processes; this will enable us to make faster, better-informed decisions in the face of volatile markets, supply chains, climate and geopolitical shifts. Third, we are launching an organizational transformation in which we evaluate how we are structured, how we are incentivized to operate and how we can best gain the greatest efficiencies and operating leverage.”

Mr. Wintemute continued, “Having led multiple successful corporate system optimizations across various industries for many years, Don is ideally suited to lead our global transformation. He will be partnering closely with business leaders across our organization to identify opportunities, develop strategic and tactical objectives, and drive programs to successful implementation. With his well-established skillset, I am excited to have him guide our transformation.”

Mr. Gualdoni has a BSE in Chemical Engineering from the University of Michigan and an MBA from the Kellogg School of Management at Northwestern University.

About American Vanguard

American Vanguard Corporation is a diversified specialty and agricultural products company that develops, manufactures, and markets solutions for crop protection and nutrition, turf and ornamentals management, commercial and consumer pest control. Over the past 20 years, through product and business acquisitions, the Company has expanded its operations into 17 countries and now has over 1,000 product registrations in 56 nations worldwide. Its strategy rests on three growth initiatives – i) Core Business (through innovation of conventional products), ii) Green Solutions (with over 130 biorational products – including fertilizers, microbials, nutritionals and non-conventional products) and iii) Precision Agriculture innovation (including SIMPAS prescriptive application and Ultimus measure/record/verify technologies). American Vanguard is included in the Russell 2000® and Russell 3000® Indexes. To learn more about American Vanguard, please reference the Company’s web site at www.american-vanguard.com.

The Company, from time to time, may discuss forward-looking information. Except for the historical information contained in this release, all forward-looking statements are estimates by the Company’s management and are subject to various risks and uncertainties that may cause results to differ from management’s current expectations. Such factors include weather conditions, changes in regulatory policy and other risks as detailed from time-to-time in the Company’s SEC reports and filings. All forward-looking statements, if any, in this release represent the Company’s judgment as of the date of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231204686814/en/

Company:

American Vanguard Corporation

William A. Kuser, Director of Investor Relations

(949) 260-1200

williamk@amvac.com

Investor Representative

The Equity Group Inc.

www.theequitygroup.com

Lena Cati / 212-836-9611

Lcati@equityny.com

Source: American Vanguard Corporation

FAQ

What is the ticker symbol for American Vanguard Corporation?

The ticker symbol for American Vanguard Corporation is AVD and it is listed on the NYSE.

What is the three-pronged plan announced by American Vanguard Corporation?

The three-pronged plan includes identifying $15 million in operating profit and interest savings, working on digital transformation with QAD and Kearney, and launching an organizational transformation.

What is the role of Don Gualdoni at American Vanguard Corporation?

Don Gualdoni has been appointed as the Chief Transformation Officer to lead the implementation of the three-pronged plan aimed at improving operating leverage, aligning people and processes, and enhancing profit.

What is Don Gualdoni's background and experience?

Don Gualdoni has over 25 years of experience in various leadership roles and corporate system optimizations. He holds a BSE in Chemical Engineering from the University of Michigan and an MBA from the Kellogg School of Management at Northwestern University.