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HAMILTON BEACH BRANDS HOLDING COMPANY ANNOUNCES THE RETIREMENT OF CEO GREGORY H. TREPP AND THE APPOINTMENT OF R. SCOTT TIDEY, PRESIDENT, TO THE ADDITIONAL ROLE OF CEO

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Hamilton Beach Brands Holding Company (NYSE: HBB) has announced a significant leadership change. Gregory H. Trepp, the current CEO, will retire on December 31, 2024. He will step down from his position and the Board of Directors on September 30, 2024. R. Scott Tidey, currently the President, will succeed Trepp as President and CEO, effective October 1, 2024.

Tidey, with 31 years of experience at the company, has been chosen for his proven executive leadership and successful execution of strategic priorities. The change is part of a long-standing succession plan. Trepp will serve as an Advisor to the CEO until his retirement to ensure a smooth transition.

The company highlights its recent successes, including sales and market share growth of core brands, increasing premium market share, growing presence in the global commercial market, progress in e-commerce, and the creation of a global home healthcare solutions business.

Hamilton Beach Brands Holding Company (NYSE: HBB) ha annunciato un importante cambiamento nella leadership. Gregory H. Trepp, l'attuale CEO, si ritirerà il 31 dicembre 2024. Si dimetterà dalla sua posizione e dal Consiglio di Amministrazione il 30 settembre 2024. R. Scott Tidey, attualmente Presidente, succederà a Trepp come Presidente e CEO, a partire dal 1 ottobre 2024.

Tidey, con 31 anni di esperienza nell'azienda, è stato scelto per la sua comprovata leadership esecutiva e la sua riuscita attuazione delle priorità strategiche. Il cambiamento fa parte di un piano di successione a lungo termine. Trepp rimarrà come Consulente del CEO fino al suo ritiro per garantire una transizione agevole.

L'azienda evidenzia i suoi recenti successi, tra cui la crescita delle vendite e della quota di mercato dei marchi principali, l'aumento della quota di mercato premium, la crescente presenza nel mercato commerciale globale, i progressi nell'e-commerce e la creazione di un'attività globale di soluzioni sanitarie domestiche.

Hamilton Beach Brands Holding Company (NYSE: HBB) ha anunciado un cambio significativo en la dirección. Gregory H. Trepp, el actual CEO, se retirará el 31 de diciembre de 2024. Dejará su puesto y el Consejo de Administración el 30 de septiembre de 2024. R. Scott Tidey, actualmente presidente, sucederá a Trepp como presidente y CEO, efectivo a partir del 1 de octubre de 2024.

Tidey, con 31 años de experiencia en la empresa, ha sido elegido por su liderazgo ejecutivo comprobado y su exitosa ejecución de prioridades estratégicas. El cambio es parte de un plan de sucesión a largo plazo. Trepp seguirá como asesor del CEO hasta su jubilación para asegurar una transición fluida.

La empresa destaca sus éxitos recientes, incluyendo el crecimiento en ventas y participación de mercado de las marcas principales, el aumento de la participación de mercado premium, la creciente presencia en el mercado comercial global, avances en comercio electrónico y la creación de un negocio global de soluciones de atención médica en el hogar.

해밀턴 비치 브랜드 홀딩스 컴퍼니 (NYSE: HBB)는 중요한 리더십 변화에 대해 발표했습니다. Gregory H. Trepp, 현재 CEO는 2024년 12월 31일에 은퇴할 예정입니다. 그는 2024년 9월 30일 부터 자신의 직책과 이사회에서 물러날 것입니다. R. Scott Tidey, 현재 대통령이자 CEO로 임명될 것입니다. 그는 2024년 10월 1일부터 직무를 맡게 됩니다.

Tidey는 회사에서의 31년의 경험을 가지고 있으며, 그의 검증된 경영 리더십 및 전략적 우선사항의 성공적인 실행으로 선택되었습니다. 이번 변화는 장기적인 승계 계획의 일환으로 진행됩니다. Trepp는 은퇴할 때까지 CEO의 고문으로 활동하여 원활한 전환을 보장할 것입니다.

회사는 최근의 성공을 강조하고 있으며, 여기에는 주요 브랜드의 판매 및 시장 점유율 성장, 프리미엄 시장 점유율 증가, 글로벌 상업 시장에서의 존재 성장, 전자상거래의 진전을 포함합니다. 그리고 글로벌 홈 헬스케어 솔루션 사업의 창출입니다.

Hamilton Beach Brands Holding Company (NYSE: HBB) a annoncé un changement de direction important. Gregory H. Trepp, l'actuel PDG, prendra sa retraite le 31 décembre 2024. Il démissionnera de son poste et du conseil d'administration le 30 septembre 2024. R. Scott Tidey, actuellement président, succédera à Trepp en tant que président et PDG, à compter du 1er octobre 2024.

Tidey, qui possède 31 ans d'expérience au sein de l'entreprise, a été choisi pour son leadership exécutif prouvé et sa capacité à exécuter avec succès les priorités stratégiques. Ce changement fait partie d'un plan de succession de longue date. Trepp continuera en tant que conseiller du PDG jusqu'à sa retraite pour assurer une transition en douceur.

L'entreprise met en avant ses récents succès, notamment la croissance des ventes et des parts de marché de ses marques principales, l'augmentation de sa part de marché premium, son empreinte croissante sur le marché commercial mondial, ses progrès dans le commerce électronique, et la création d'une activité mondiale de solutions de soins de santé à domicile.

Hamilton Beach Brands Holding Company (NYSE: HBB) hat eine bedeutende Veränderung in der Führung angekündigt. Gregory H. Trepp, der derzeitige CEO, wird am 31. Dezember 2024 in den Ruhestand gehen. Er wird am 30. September 2024 von seiner Position und dem Vorstand zurücktreten. R. Scott Tidey, der derzeit Präsident ist, wird Trepp ab dem 1. Oktober 2024 als Präsident und CEO nachfolgen.

Tidey, der 31 Jahre Erfahrung im Unternehmen hat, wurde aufgrund seiner nachgewiesenen Führungskompetenz und erfolgreichen Durchführung strategischer Prioritäten ausgewählt. Der Wechsel ist Teil eines langfristigen Nachfolgeplans. Trepp wird bis zu seinem Ruhestand als Berater des CEO tätig sein, um einen reibungslosen Übergang zu gewährleisten.

Das Unternehmen hebt seine jüngsten Erfolge hervor, darunter das Wachstum von Umsatz und Marktanteil der Kernmarken, die Steigerung des Premium-Marktanteils, die wachsende Präsenz auf dem globalen Handelsmarkt, Fortschritte im E-Commerce und die Schaffung eines globalen Geschäfts für häusliche Gesundheitslösungen.

Positive
  • Planned and smooth leadership transition with long-standing succession plan
  • New CEO R. Scott Tidey has 31 years of experience with the company
  • Recent sales and market share growth of core Hamilton Beach and Proctor Silex brands
  • Increasing share in the premium market
  • Growing presence in the global commercial market
  • Progress in the e-commerce channel
  • Creation of a growing global home healthcare solutions business
Negative
  • None.

GLEN ALLEN, Va., Sept. 24, 2024 /PRNewswire/ -- The Hamilton Beach Brands Holding Company (NYSE: HBB) (the "Company) Board of Directors announced today that Gregory H. Trepp, Chief Executive Officer (CEO), will retire from the Company on December 31, 2024. In order to facilitate a long-standing succession plan, Mr. Trepp will step down from his current position and from the Board of Directors, effective September 30, 2024. R. Scott Tidey, currently President of the Company, will succeed Mr. Trepp and become President and CEO and a member of the Board of Directors, effective October 1, 2024. Mr. Trepp will serve in the role of Advisor to the CEO until his retirement in support of a smooth transition.

Alfred M. Rankin, Jr., Chairman of the Board, said, "Today's announcement represents the culmination of a long-standing management succession plan. Scott has a proven record of executive leadership and successful execution against strategic priorities, developed over his 31 years with the Company. Scott's in-depth knowledge of our business, strategy, and people makes him the clear choice to succeed Greg. On behalf of the Board, I thank Greg for his leadership over 28 years with the Company, especially as President and CEO. Greg has built an outstanding global team that includes experienced management, talented employees, and a Good Thinking culture focused on innovation. Scott and the team are well positioned to build upon the Company's many successes. These include sales and market share growth of the core Hamilton Beach and Proctor Silex brands, an increasing share of the premium market, a growing presence in the global commercial market, progress in the ecommerce channel, and the creation of a growing global home healthcare solutions business," said Mr. Rankin.

Mr. Trepp said, "Serving as CEO of our Company has been an honor and a privilege. I have the utmost confidence in Scott, our senior management team, our remarkable employees and their ability to build upon what we have achieved thus far. I congratulate Scott on his well-deserved promotion and wish everyone all the best. I look forward to spending more time with my family and pursuing various interests."

Mr. Tidey said, "I am incredibly honored to be selected as the next CEO of our Company. I look forward to working with our highly capable people to continue our progress with our strategic initiatives to increase revenue, expand margins and deliver strong cash flow over time. Our Company remains committed to creating value for shareholders in the years ahead. I thank Greg and the Board for their trust, confidence and support."

Mr. Tidey was appointed President of the Company in February 2024. Prior to that, he had served in successive executive level positions with Hamilton Beach Brands. Since January 2023, he had served as Senior Vice President, Global Sales. Before that, he served as Senior Vice President, Consumer Sales & Marketing from March 2021 to January 2023, and as Senior Vice President, North America Sales and Marketing from 2010 to March 2021. Prior to joining the Company in 1993, Mr. Tidey worked for A.H. Robins. He received a Bachelor of Science in Business Management from the Virginia Polytechnic Institute and State University.

Mr. Trepp continued as CEO and a member of the Board of Directors of the Company following the appointment of Mr. Tidey as President in February 2024. Previously, he served as President and CEO of the Company and a member of the Board of Directors since 2017, and as President and CEO of Hamilton Beach Brands since 2010. Mr. Trepp joined Hamilton Beach Brands in 1996 as Director of Marketing and rose through successive leadership positions.

About Hamilton Beach Brands Holding Company
Hamilton Beach Brands Holding Company is a leading designer, marketer, and distributor of a wide range of branded small electric household and specialty housewares appliances, as well as commercial products for restaurants, fast food chains, bars, and hotels. The Company's owned consumer brands include Hamilton Beach®, Proctor Silex®, Hamilton Beach Professional®, Weston®, and TrueAir®. The Company's owned commercial brands include Hamilton Beach Commercial® and Proctor Silex Commercial®. Hamilton Beach Brands licenses the brands for Wolf Gourmet® countertop appliances, CHI® premium garment care products, Clorox™ True HEPA air purifiers, and Brita Hub countertop electric water filtration appliances. Hamilton Beach Brands has exclusive multiyear agreements to design, sell, market, and distribute Bartesian® premium cocktail delivery machines, and specialty appliances to create Numilk® non-dairy fresh milk on demand. The Company's Hamilton Beach Health® subsidiary is focused on expanding the Company's participation in the home medical market. In February 2024, Hamilton Beach Health acquired HealthBeacon PLC, a medical technology firm that specializes in developing connected devices. For more information about Hamilton Beach Brands Holding Company, visit www.hamiltonbeachbrands.com.

Hamilton Beach Brands Holding Company logo (PRNewsfoto/Hamilton Beach Brands Holding C)

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SOURCE Hamilton Beach Brands Holding Company

FAQ

Who is the new CEO of Hamilton Beach Brands Holding Company (HBB)?

R. Scott Tidey will become the new President and CEO of Hamilton Beach Brands Holding Company (HBB), effective October 1, 2024.

When will Gregory H. Trepp retire as CEO of Hamilton Beach Brands (HBB)?

Gregory H. Trepp will retire as CEO of Hamilton Beach Brands Holding Company (HBB) on December 31, 2024.

What is R. Scott Tidey's background at Hamilton Beach Brands (HBB)?

R. Scott Tidey has been with Hamilton Beach Brands (HBB) for 31 years, serving in various executive roles including President and Senior Vice President of Global Sales.

What recent successes has Hamilton Beach Brands (HBB) reported?

Hamilton Beach Brands (HBB) reported sales and market share growth of core brands, increasing premium market share, growing presence in the global commercial market, progress in e-commerce, and creation of a global home healthcare solutions business.

Hamilton Beach Brands Holding Company

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262.45M
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1.97%
Furnishings, Fixtures & Appliances
Electric Housewares & Fans
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GLEN ALLEN