AZZ Inc. Announces Key Management Promotion and Renaming of Energy Segment to Infrastructure Solutions

Rhea-AI Summary

AZZ Inc. (NYSE: AZZ) has announced the promotion of Gary Hill to Chief Operating Officer of Infrastructure Solutions, as part of a strategic focus shift from its Energy Segment. Hill, who joined AZZ in 2013 and previously led the Industrial platform, aims to enhance the Infrastructure Solutions segment through consolidation of Electrical Systems and Industrial operations. This change follows the earlier appointment of Bryan Stovall as COO of the Metal Coatings segment. The company continues to provide metal coating and electrical solutions for critical infrastructure.

Positive

• Promotion of Gary Hill to COO of Infrastructure Solutions could enhance management effectiveness and strategic focus.
• Renaming of the Energy Segment to Infrastructure Solutions reflects a more accurate alignment with the company's strategic goals.

Negative

• None.

FORT WORTH, Texas, Oct. 13, 2020 /PRNewswire/ -- AZZ Inc. (NYSE: AZZ), a global provider of metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services today announced the promotion of Gary Hill to Chief Operating Officer of Infrastructure Solutions. The Company also announced its intent to rename the Energy Segment to Infrastructure Solutions, more accurately reflecting the strategic focus of the segment going forward.

Mr. Hill joined AZZ in 2013, when the Company acquired Aquilex Specialty Repair and Overhaul LLC ("Aquilex SRO"). Mr. Hill has held leadership positions of increasing responsibility throughout his collective twelve years in the business, and most recently, he served as President and General Manager – Industrial platform.  The promotion is consistent with an earlier announcement in June, when the Company named Bryan Stovall to Chief Operating Officer of AZZ's Metal Coatings segment and consolidated both Galvanizing and Powder Coating and Plating operating platforms throughout North America.

Tom Ferguson, President and Chief Executive Officer of AZZ, commented, "I am pleased to announce the promotion of Gary Hill as Chief Operating Officer of Infrastructure Solutions.  Gary is a proven results-driven leader and has been instrumental in overseeing the strategic development of our Industrial platform. I am confident that consolidating the Electrical Systems and Industrial operating platforms under his leadership will result in a more successful Infrastructure Solutions segment in the future."

About AZZ Inc.

AZZ Inc. is a global provider of metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services to the markets of power generation, transmission, distribution and industrial in protecting metal and electrical systems used to build and enhance the world's infrastructure. AZZ Metal Coatings is a leading provider of metal finishing solutions for corrosion protection, including hot dip galvanizing to the North American steel fabrication industry. AZZ Infrastructure Solutions (formerly Energy) is dedicated to delivering safe and reliable transmission of power from generation sources to end customers, and automated weld overlay solutions for corrosion and erosion mitigation to critical infrastructure in the energy markets worldwide.

Safe Harbor Statement

Certain statements herein about our expectations of future events or results constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. Such forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain, and investors must recognize that actual results may differ from those expressed or implied in the forward-looking statements. Certain factors could affect the outcome of the matters described herein. This press release may contain forward-looking statements that involve risks and uncertainties including, but not limited to, changes in customer demand for our products and services, including demand by the power generation markets, electrical transmission and distribution markets, the industrial markets, and the metal coatings markets.  In addition, within each of the markets we serve, our customers and our operations could potentially be adversely impacted by the ongoing COVID-19 pandemic.  We could also experience fluctuations in prices and raw material cost, including zinc and natural gas which are used in the hot dip galvanizing process; supply-chain vendor delays; customer requested delays of our products or services; delays in additional acquisition opportunities; currency exchange rates; adequacy of financing; availability of experienced management and employees to implement AZZ's growth strategy; a downturn in market conditions in any industry relating to the products we inventory or sell or the services that we provide; economic volatility or changes in the political stability in the United States and other foreign markets in which we operate; acts of war or terrorism inside the United States or abroad; and other changes in economic and financial conditions.  AZZ has provided additional information regarding risks associated with the business in AZZ's Annual Report on Form 10-K for the fiscal year ended February 29, 2020 and other filings with the Securities and Exchange Commission ("SEC"), available for viewing on AZZ's website at www.azz.com and on the SEC's website at www.sec.gov.  You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. These statements are based on information as of the date hereof and AZZ assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

Company Contact:    
David Nark, Senior Vice President of Marketing, Communications and Investor Relations
AZZ Inc.
(817) 810-0095
www.azz.com

Investor Contact:
Joe Dorame, Managing Partner
Lytham Partners
(602) 889-9700
www.lythampartners.com

 

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SOURCE AZZ Inc.

FAQ

What is the recent management announcement from AZZ regarding the Infrastructure Solutions segment?

AZZ has promoted Gary Hill to Chief Operating Officer of Infrastructure Solutions and renamed the Energy Segment to reflect a strategic focus.

Who is Gary Hill and what role will he play at AZZ?

Gary Hill has been promoted to COO of Infrastructure Solutions, with a focus on consolidating Electrical Systems and Industrial operations.

What was the previous name of the Infrastructure Solutions segment at AZZ?

The Infrastructure Solutions segment was previously known as the Energy Segment before its recent renaming.