Houston Wire & Cable Company Announces Governance, Management Changes

HOUSTON, June 12, 2020 (GLOBE NEWSWIRE) -- Houston Wire & Cable Company (NASDAQ: HWCC) (the Company) today announced that Gary Yetman has been named executive chairman of the board. William H. Sheffield, who has served as non-executive chairman since 2012, will remain on the board and succeed Yetman as chairman of the Nominating and Corporate Governance Committee. Sheffield previously announced his intention to retire from the board upon expiration of his current term.

Yetman joined the HWCC board in 2014, following the sale of Coleman Cable, Inc., where he served as the chief executive officer and president from 1999 until the sale. Under Yetman’s leadership, Coleman Cable more than doubled revenues from its 2006 IPO to its sale in 2014.

The Company also announced several promotions, effective immediately.

• Jerry Zurovchak, previously Director of Operations, has been named Senior Vice President and Chief Operating Officer. Operations, IT and purchasing will report to Zurovchak, who joined the Company in 2019 from General Cable, a Prysmian Group company.

• Allison Ruggles Goldie, previously Director of Information Technology, has been named Vice President of Information Technology.

• Tamika Howard, previously Controller, has been named Vice President and Controller.

• Lara Walker, previously Director of Human Resources, has been named Vice President of Human Resources.

• David Sanborn, previously Vice President of the Company’s Southwest Wire Rope operating unit, has been named Senior Vice President of Southwest Wire Rope.

“I am delighted to recognize these valued team members,” said James L. Pokluda III, President and Chief Executive Officer. “Their promotions tangibly demonstrate our company’s commitment to recognizing talent and achievement.”

Separately, HWCC announced that Christopher M. Micklas, Vice President and Chief Financial Officer, has notified the board of his decision to leave the Company effective July 10, 2020 in order to join a start-up business in another industry. Micklas also serves as the Company’s chief accounting officer. Eric W. Davis, currently President of the Company’s Heavy Lift division, will become interim chief financial officer and chief accounting officer upon Micklas’ departure. Davis joined the Company in 1993 and was formerly Vice President and Controller for 14 years. Pokluda said, “We thank Chris for his contributions and insights in helping position our company for future success. While we are sorry he has decided to leave, we wish him the best in his new endeavor.”

About the Company

With 44 years of experience in the industry, Houston Wire & Cable Company, an industrial distributor, is a large provider of products in the U.S. market. Headquartered in Houston, Texas, the Company has sales and distribution facilities strategically located throughout the United States.

Standard stock items available for immediate delivery include continuous and interlocked armor cable; instrumentation cable; medium voltage cable; high temperature wire; portable cord; power cable; primary and secondary aluminum distribution cable; private branded products, including LifeGuard™, a low-smoke, zero-halogen cable; mechanical wire and cable and related hardware, including wire rope, lifting products and synthetic rope and slings; corrosion resistant fasteners, hose clamps, and rivets.

Comprehensive value-added services include same-day shipping, knowledgeable sales staff, inventory management programs, just-in-time delivery, logistics support, customized online ordering capabilities and 24/7/365 service.

Forward-Looking Statements

This release contains comments concerning management’s view of the Company’s future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and projections about future events may, and often do, vary materially from actual results.

Other risk factors that may cause actual results to differ materially from statements made in this press release can be found in the Company’s Annual Report on Form 10-K, Current Report on Form 8‑K dated April 29, 2020 and other documents filed with the SEC. These documents are available under the Investor Relations section of the Company’s website at www.houwire.com.

Any forward-looking statements speak only as of the date of this press release and the Company undertakes no obligation to publicly update such statements.

CONTACT:
Christopher M. Micklas
Chief Financial Officer
Direct: 713.609.2114
Fax: 713.609.2168