Modine Names Paul Plourde as Vice President, Business Development and Corporate Strategy

Modine Manufacturing Company (NYSE: MOD) has appointed Paul Plourde as Vice President of Business Development and Corporate Strategy.

Rhea-AI Summary

Modine Manufacturing Company (NYSE: MOD) has appointed Paul Plourde as Vice President of Business Development and Corporate Strategy. In this role, he will oversee the global implementation of the company's 80/20 initiative, corporate finance, and strategic planning to drive transformation and growth. Plourde brings over 20 years of experience, having recently focused on new market segments at Gibraltar. Modine's CFO, Mick Lucareli, expressed optimism about how Plourde's skills will enhance growth plans during this transformative phase.

Positive

• Paul Plourde's appointment adds leadership strength to Modine's business development.
• His experience in market expansion aligns with the company's growth objectives.
• The focus on implementing the 80/20 initiative may streamline operations and enhance profitability.

Negative

• None.

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RACINE, Wis., Sept. 12, 2022 /PRNewswire/ -- Modine Manufacturing Company (NYSE: MOD), a diversified global leader in thermal management technology and solutions, today announced that Paul Plourde has been appointed Vice President, Business Development and Corporate Strategy. In this role, Mr. Plourde will be responsible for leading the Company's global implementation of 80/20, overseeing corporate finance, managing strategic planning, and leading the overall business development process to ensure Modine's transformation and future success.  

Mr. Plourde has more than 20 years of business leadership experience, most recently leading Gibraltar's business development focus into new markets including the renewables segments. Prior to that, he spent more than 10 years as the General Manager of Construction Products Canada (Paslode, Ramset, Buildex, Redhead and GRK brands) with ITW in Canada.

"It's an exciting and transformative time at Modine as we are shaping the company for a sustainable future," said Modine Chief Financial Officer, Mick Lucareli. "The addition of Paul to our leadership team will enhance our 80/20 implementation while bringing a strong set of acquisitions skills that will help accelerate our growth plans."

About Modine

At Modine, we are engineering a cleaner, healthier world.  Building on more than 100 years of excellence in thermal management, we provide trusted systems and solutions that improve air quality and conserve natural resources.  More than 11,000 employees are at work in every corner of the globe, delivering the solutions our customers need, where they need them.  Our Climate Solutions and Performance Technologies segments support our purpose by improving air quality, reducing energy and water consumption, lowering harmful emissions and enabling cleaner running vehicles and environmentally-friendly refrigerants.  Modine is a global company headquartered in Racine, Wisconsin (USA), with operations in North America, South America, Europe and Asia. For more information about Modine, visit www.modine.com.

Investor & Media Contact

Kathleen Powers
(262) 636-1687
kathleen.t.powers@modine.com

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SOURCE Modine Manufacturing Company

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Who is the new Vice President of Business Development at Modine?

Paul Plourde has been appointed as the Vice President of Business Development and Corporate Strategy at Modine.

What experience does Paul Plourde bring to Modine?

Paul Plourde has over 20 years of business leadership experience, including roles at Gibraltar and ITW.

What is the 80/20 initiative mentioned in Modine's press release?

The 80/20 initiative focuses on optimizing business processes to enhance efficiency and profitability.

When was Paul Plourde appointed at Modine?

Paul Plourde was appointed on September 12, 2022.

How may Paul Plourde's role impact Modine's growth?

His leadership is expected to enhance business development and accelerate growth plans at Modine.