Donaldson Company Announces New Leadership Appointments to Strengthen Position for Future Growth

Rhea-AI Summary

Donaldson Company, Inc. (NYSE: DCI) announced new leadership appointments as part of a major organizational redesign aimed at enhancing its service to end market customers. Effective November 1, 2022, the company will shift away from a matrixed structure to establish a more streamlined approach. Key appointments include Guillermo Briseño as president of Industrial Solutions and Andrew C. Dahlgren as president of Life Sciences. The redesign aims to align business models and resources with market needs while ensuring accountability for performance.

Positive

• Appointment of key leaders to better align with market needs and enhance customer service.
• Organizational redesign expected to improve efficiency in directing resources.

Negative

• Departure of two senior leaders, potentially impacting organizational stability during the transition.
• Uncertain outcomes related to the success of the new organizational structure.

MINNEAPOLIS--(BUSINESS WIRE)-- Donaldson Company, Inc. (NYSE: DCI) today announced new leadership appointments as part of an ongoing broader organizational redesign aimed at better-positioning the company to serve its end market customers. Once completed, the redesign is expected to allow the company to more efficiently direct resources to strengthen commercial execution.

“Donaldson has successfully built a diverse portfolio of businesses with different value propositions for each market we serve,” said Tod Carpenter, chairman, president, and chief executive officer. “This redesign will enhance our ability to serve our customers by aligning our business models, resources and cost structure to the specific needs of each end market, while creating greater internal ownership and accountability for short- and long-term performance.”

The company is moving away from its previous matrixed organizational structure, which included a regional focus. As a result, Donaldson announced the following appointments effective November 1, 2022:

• Guillermo Briseño, president, Industrial Solutions
• Andrew C. Dahlgren, president, Life Sciences and Special Applications
• Bart Driesen, president, Mobile Equipment Solutions Aftermarket
• Richard B. Lewis, president, Mobile Equipment Solutions
• Thomas R. Scalf, president, Enterprise Operations and Supply Chain
• Keith Bechtum, vice president, Mobile Equipment Solutions OEM Sales
• Mauricio Goes, vice president, Industrial Solutions Aftermarket and Service
• Angela Zurick, vice president, Mobile Equipment Solutions North America Aftermarket

With the new structure, Jeffrey E. Spethmann, SVP, Industrial Products, and Wim J.V. Vermeersch, VP, EMEA, will depart Donaldson after assisting with the transition. “I extend sincere thanks to Jeff and Wim for their significant contributions and dedication to our customers, our company and our employees, especially those they mentored and developed over their tenures,” Carpenter added. “They are both strong leaders and I wish them all the best in the future.”

About Donaldson Company, Inc.

Founded in 1915, Donaldson (NYSE: DCI) is a global leader in technology-led filtration products and solutions, serving a broad range of industries and advanced markets. Our diverse, skilled employees at over 140 locations on six continents partner with customers—from small business owners to the world’s biggest OEM brands—to solve complex filtration challenges. Discover how Donaldson is Advancing Filtration for a Cleaner World at www.Donaldson.com.

Statements in this release regarding future events and expectations, such as forecasts, plans, trends, and projections relating to the Company’s business and financial performance, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are identified by words or phrases such as “will likely result,” “are expected to,” “will continue,” “will allow,” “estimate,” “project,” “believe,” “expect,” “anticipate,” “forecast,” “plan” and similar expressions. These forward-looking statements speak only as of the date such statements are made and are subject to risks and uncertainties that could affect the Company’s performance and could cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed. These factors include, but are not limited to, the success of the redesigned organizational structure; its focus, strategies and initiatives; challenges in global operations; impacts of global economic, industrial and political conditions on product demand, including the Russia and Ukraine conflict; impacts from unexpected events, including the COVID-19 pandemic; effects of unavailable raw materials or material cost inflation; inability to attract and retain qualified personnel; inability to meet customer demand; inability to maintain competitive advantages; threats from disruptive technologies; effects of highly competitive markets with pricing pressure; exposure to customer concentration in certain cyclical industries; inability to manage productivity improvements; results of execution of any acquisition, divestiture and other strategic transactions; vulnerabilities associated with information technology systems and security; inability to protect and enforce intellectual property rights; costs associated with governmental laws and regulations; impacts of foreign currency fluctuations; and effects of changes in capital and credit markets. These and other factors are described in Part I, Item 1A, “Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2022. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221004005879/en/

Sarika Dhadwal (952) 887-3753

Sarika.Dhadwal@Donaldson.com

Source: Donaldson Company, Inc.

FAQ

What new leadership appointments were announced by Donaldson Company?

Effective November 1, 2022, Donaldson appointed several leaders including Guillermo Briseño as president of Industrial Solutions and Andrew C. Dahlgren as president of Life Sciences.

What is the purpose of Donaldson's organizational redesign?

The redesign aims to enhance service to end market customers by aligning business models, resources, and cost structures with specific market needs.

How might the leadership changes impact Donaldson's stock performance?

The leadership changes and organizational redesign could improve operational efficiency, potentially positively impacting stock performance if successful.

When will the new organizational structure at Donaldson take effect?

The new organizational structure will take effect on November 1, 2022.

What challenges does Donaldson face with its new organizational redesign?

Challenges include ensuring a smooth transition while maintaining operational stability and achieving the desired efficiencies from the new structure.