Brady Corporation Chairman of the Board, Mr. Conrad G. Goodkind to Retire, Mr. Bradley C. Richardson Appointed Successor

Rhea-AI Summary

Brady Corporation (NYSE:BRC) announced the retirement of Mr. Conrad Goodkind as Chairman of the Board, effective May 21, 2021, after 37 years of service. Mr. Bradley C. Richardson, a current director since 2007, has been elected as the new Chairman. Richardson, with extensive experience as CFO in various companies and a deep understanding of Brady's strategy, will focus on driving long-term growth through innovation and acquisitions. Brady, headquartered in Milwaukee, reported fiscal 2020 sales of approximately $1.08 billion.

Positive

• Bradley C. Richardson appointed as new Chairman, expected to enhance strategic direction.
• Richardson brings significant experience and a deep understanding of Brady’s markets.
• Emphasis on driving growth through innovation and acquisitions to boost shareholder value.

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• None.

MILWAUKEE, May 24, 2021 (GLOBE NEWSWIRE) -- Brady Corporation (NYSE:BRC) (“Brady” or the “Company”) announced that Mr. Conrad Goodkind retired effective May 21, 2021. Mr. Goodkind worked with Brady in a variety of capacities for the past 37 years, providing insightful guidance and oversight. Beginning as securities counsel for Brady’s initial public offering in 1984, serving as the Company’s outside counsel for many years and ultimately serving as Chairman of the Board, Mr. Goodkind’s dedicated service played a key role in the Company’s success.

Brady’s Board of Directors elected current director, Mr. Bradley C. Richardson, to replace Mr. Goodkind as Chairman upon his retirement. A member of the Company’s Board of Directors since 2007, Mr. Richardson is an accomplished leader, having previously served as Executive Vice President and Chief Financial Officer of Avient Corporation, Executive Vice President and Chief Financial Officer of Diebold, Inc., and as Executive Vice President Corporate Strategy and Chief Financial Officer of Modine Manufacturing. Prior to Modine, he spent 21 years with BP Amoco serving in various financial and operational roles. With a deep understanding of Brady’s strategy, markets and competitive advantages, Mr. Richardson has been a valued member of the Board and is well-positioned for the role of Chairman.

“Brady Corporation is an excellent organization and I’m proud to be a member of its Board of Directors, and to continue forward in an expanded role as Chairman,” said Mr. Richardson. “I’m committed to Brady’s strategy to drive growth through innovation, research and development, and through acquisitions in order to deliver shareholder value over the long-term.”

“On behalf of the Board, I would like to thank Conrad for his strong leadership and dedicated service to Brady as Chairman,” said Brady’s President and Chief Executive Officer, J. Michael Nauman. “I look forward to Brad’s expanded role as the Chairman of our Board of Directors. Brad has significant experience as a leader in the manufacturing industry, both myself and my fellow directors value his expertise and insight which have been apparent during his time serving on the Board. With Brad’s leadership, I believe we are well-positioned to execute on strategies to drive growth in sales and earnings over the long-term.”

Brady Corporation is an international manufacturer and marketer of complete solutions that identify and protect people, products and places. Brady’s products help customers increase safety, security, productivity and performance and include high-performance labels, signs, safety devices, printing systems and software. Founded in 1914, the Company has a diverse customer base in electronics, telecommunications, manufacturing, electrical, construction, medical, aerospace and a variety of other industries. Brady is headquartered in Milwaukee, Wisconsin and as of July 31, 2020, employed approximately 5,400 people in its worldwide businesses. Brady’s fiscal 2020 sales were approximately $1.08 billion. Brady stock trades on the New York Stock Exchange under the symbol BRC. More information is available at www.bradycorp.com.

For More Information:
Investor contact: Ann Thornton 414-438-6887
Media contact: Kate Venne 414-358-5176

FAQ

What is the significance of Conrad Goodkind's retirement for Brady Corporation (BRC)?

Conrad Goodkind's retirement marks the end of a 37-year tenure, which could lead to a shift in strategic direction under new Chairman Bradley C. Richardson.

Who is the new Chairman of Brady Corporation (BRC)?

Bradley C. Richardson has been elected as the new Chairman following Conrad Goodkind's retirement.

What are Brady Corporation's recent sales figures?

Brady Corporation reported fiscal 2020 sales of approximately $1.08 billion.

How long has Bradley C. Richardson served on Brady's Board?

Bradley C. Richardson has served on Brady's Board of Directors since 2007.

What is Brady Corporation's strategy for future growth?

Brady Corporation aims to drive growth through innovation, research and development, and acquisitions.