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30.04.2019

Gorman-Rupp Announces New Chairman, Independent Director and Chief Operating Officer

The Gorman-Rupp Company announced today that its Board of Directors has appointed Jeffrey S. Gorman, President and CEO, to serve as Chairman of the Board. As previously announced, James C. Gorman, the Company’s long-standing Chairman, informed the Board this past January of his intention to not stand for re-election as a Director at the Company’s 2019 Annual Meeting of Shareholders.

“Gorman-Rupp has benefited greatly over many years from James C. Gorman’s leadership and deep experience as Chairman," said M. Ann Harlan, Lead Independent Director of the Gorman-Rupp Board. “The decision to elect Jeff as Chairman reflects the Board’s confidence in his leadership and ability to execute our vision and strategies to take Gorman-Rupp into the future.”

James C. Gorman, son of J.C. Gorman, co-founder of the Company, leaves the Board after serving as a Director of the Company since 1946 and as Chairman since 1989. He served as the Company’s President from 1964 until 1989 and as Chief Executive Officer from 1964 until 1996 and was instrumental in the Company’s development and growth over that time. Mr. Gorman plans to continue his involvement with the Company as Honorary Chairman.

“I believe deeply in Gorman-Rupp and its people, and it has been an honor to serve as Chairman,” Mr. James C. Gorman said. “As I conclude my work as Chairman, I do so knowing that Jeff will serve as Chairman with the same skill and commitment that he has applied to his leadership of the Company as President and CEO for the past 20 years.”

Also as previously announced, W. Wayne Walston notified the Company this past January that he would not stand for re-election as a Director at the Company’s 2019 Annual Meeting of Shareholders. Mr. Walston has served as a Director of the Company since 1999.

Ms. Harlan added, “Our entire Board thanks Wayne for his outstanding service to the Board and Company for the past 19 years, including as a past Chair of the Compensation Committee, and we wish him the very best in his retirement.”

At the Annual Meeting of the Shareholders of The Gorman-Rupp Company held April 25, 2019, Sonja K. McClelland was elected to the Board of Directors. Ms. McClelland, age 47, is Executive Vice President, Secretary, Treasurer and Chief Financial Officer of Hurco Companies, Inc., a publicly-traded international industrial technology company that designs, manufactures and sells computerized machine tools. Ms. McClelland has worked for Hurco in various finance and accounting roles since September 1996 and was previously employed by an international public accounting firm. Ms. McClelland will serve on the Audit Committee and the Compensation Committee of the Board of Directors.

Source: The Gorman-Rupp Company

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