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Traeger Announces Appointment of Steven Richman to Its Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
Traeger, Inc. (NYSE: COOK) has appointed Steven P. Richman, the Group President of Milwaukee Tool, to its Board of Directors effective October 3, 2022. Richman will also serve on the Compensation Committee. CEO Jeremy Andrus expressed confidence that Richman's extensive operational expertise and proven success in driving growth will help Traeger enhance its strategy in the grilling category. Richman brings over 25 years of experience from notable companies, including Black and Decker and Bosch Power Tools, aiming to leverage this knowledge to benefit Traeger’s stakeholders.
Positive
Steven P. Richman brings operational expertise and a successful growth track record from Milwaukee Tool.
Richman's appointment is expected to enhance Traeger's strategic execution and increase household penetration.
Negative
None.
SALT LAKE CITY, Utah--(BUSINESS WIRE)--
Traeger, Inc. (“Traeger” or the “Company”) (NYSE: COOK), creator and category leader of the wood pellet grill, today announced the appointment of Steven P. Richman, Group President of Milwaukee Tool, to the Company’s Board of Directors, effective October 3, 2022. Mr. Richman will serve as a member of the Compensation Committee.
“We are thrilled to announce Steve’s appointment as a new member of our Board of Directors,” said Jeremy Andrus, Chief Executive Officer and Chairman of the Board of Traeger. “Steve brings deep operational knowledge and we believe his track record of driving strong growth at Milwaukee Tool will allow him to provide valuable insights as we continue to execute upon our strategy of disrupting the grilling category and increasing household penetration. The addition of Steve to our Board will both complement and enhance our current directors’ diverse skill sets and experience. We welcome Steve to our Board and I look forward to working with him and our other Board members as we seek to drive value for our consumers and our shareholders.”
Mr. Richman was appointed Group President of Milwaukee Tool in January 2007 and is responsible for all aspects of its business. Under Mr. Richman’s leadership, Milwaukee Tool has achieved annual topline growth of 20% and has increased its US workforce by seven-fold over the last decade. He has over 25 years of experience in the management of industrial, electrical, plumbing, and retail distribution channels. He has held key management positions with Black and Decker, served as President of SKIL and Bosch Power Tools, and as President and CEO of Werner Co.Mr. Richman contributes an extensive knowledge of manufacturing, product development, sales, and marketing. Mr. Richman holds a Bachelor’s degree from UCLA.
About Traeger
Traeger Grills, headquartered in Salt Lake City, is the creator and category leader of the wood pellet grill, an outdoor cooking system that ignites all-natural hardwoods to grill, smoke, bake, roast, braise, and barbecue. Our grills are versatile and easy to use, empowering cooks of all skill sets to create delicious meals with a wood-fired flavor that cannot be replicated with gas, charcoal, or electric grills. Grills are at the core of Traeger’s platform and are complemented by Traeger wood pellets, rubs, sauces, and accessories.
