IES Holdings Appoints Elizabeth D. Leykum to its Board of Directors

Rhea-AI Summary

IES Holdings announced the appointment of Elizabeth D. Leykum to its Board of Directors on April 19, 2021. Leykum brings over 20 years of experience in corporate governance and finance, currently serving as founder of Serenade Capital LLC. Previously, she co-founded HEG Capital LLC and worked at ESL Investments. Leykum's expertise is expected to enhance the board's strategic oversight. IES, operating in integrated electrical and technology systems, employs over 5,000 people and serves various markets including data centers and commercial facilities.

Positive

• Elizabeth D. Leykum appointed to the Board, bringing extensive governance and finance experience.
• Her background in investment management may strengthen IES's strategic initiatives.

Negative

• None.

HOUSTON, April 19, 2021 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (or “IES” or the “Company”) (NASDAQ: IESC) today announced the appointment of Elizabeth D. Leykum to its Board of Directors.

“We are pleased to welcome Elizabeth to our Board,” said Jeff Gendell, IES’s Chairman and CEO. “Her significant experience in corporate governance, finance and investment management will complement the skill sets of our current directors, and we look forward to adding her perspective to the Board.”

Ms. Leykum brings over 20 years of investment and financial management experience to IES. She has served as founder of Serenade Capital LLC, an investment firm, since May 2016. Prior to founding Serenade Capital, she was a founding principal of HEG Capital LLC, an investment advisory firm, and worked in investment management for ESL Investments for over a decade. Ms. Leykum has served on the board of Lands’ End, Inc. (NASDAQ: LE) since April 2014, where she is chair of the Nominating and Corporate Governance Committee and a member of the Compensation Committee. In addition, she is a trustee of Houston Ballet and The Kinkaid School. Ms. Leykum graduated from Harvard College with an A.B. in Economics and received an M.B.A. from Harvard Business School.

About IES Holdings, Inc.
IES is a holding company that owns and manages operating subsidiaries that design and install integrated electrical and technology systems and provide infrastructure products and services to a variety of end markets, including data centers, residential housing, and commercial and industrial facilities. Our more than 5,000 employees serve clients in the United States. For more information about IES, please visit www.ies-co.com.

Certain statements in this release may be deemed "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, all of which are based upon various estimates and assumptions that the Company believes to be reasonable as of the date hereof. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "could," "should," "expect," "plan," "project," "intend," "anticipate," "believe," "seek," "estimate," "predict," "potential," "pursue," "target," "continue," the negative of such terms or other comparable terminology. These statements involve risks and uncertainties that could cause the Company's actual future outcomes to differ materially from those set forth in such statements. Such risks and uncertainties include, but are not limited to, the impact of the COVID-19 outbreak or future epidemics on our business, including the potential for job site closures or work stoppages, supply chain disruptions, construction delays, reduced demand for our services, or our ability to collect from our customers; the ability of our controlling shareholder to take action not aligned with other shareholders; the possibility that certain tax benefits of our net operating losses may be restricted or reduced in a change in ownership or a change in the federal tax rate; the potential recognition of valuation allowances or write-downs on deferred tax assets; the inability to carry out plans and strategies as expected, including our inability to identify and complete acquisitions that meet our investment criteria in furtherance of our corporate strategy, or the subsequent underperformance of those acquisitions; competition in the industries in which we operate, both from third parties and former employees, which could result in the loss of one or more customers or lead to lower margins on new projects; fluctuations in operating activity due to downturns in levels of construction or the housing market, seasonality and differing regional economic conditions; and our ability to successfully manage projects, as well as other risk factors discussed in this document, in the Company's annual report on Form 10-K for the year ended September 30, 2020 and in the Company’s other reports on file with the SEC. You should understand that such risk factors could cause future outcomes to differ materially from those experienced previously or those expressed in such forward-looking statements. The Company undertakes no obligation to publicly update or revise any information, including information concerning its controlling shareholder, net operating losses, borrowing availability, or cash position, or any forward-looking statements to reflect events or circumstances that may arise after the date of this release.

Forward-looking statements are provided in this press release pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995 and should be evaluated in the context of the estimates, assumptions, uncertainties, and risks described herein.

General information about IES Holdings, Inc. can be found at http://www.ies-co.com under "Investor Relations." The Company's annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, as well as any amendments to those reports, are available free of charge through the Company's website as soon as reasonably practicable after they are filed with, or furnished to, the SEC.

Contact: Tracy McLauchlin, CFO
IES Holdings, Inc.
713-860-1500

FAQ

Who is Elizabeth D. Leykum, newly appointed to IESC's Board of Directors?

Elizabeth D. Leykum is the founder of Serenade Capital LLC with over 20 years of investment and financial management experience.

What experience does Elizabeth D. Leykum bring to IESC?

She has significant experience in corporate governance, investment management, and has served on the board of Lands' End, Inc.

When was Elizabeth D. Leykum appointed to the Board of IESC?

She was appointed on April 19, 2021.

What is the potential impact of Leykum's appointment on IESC?

Her appointment could enhance strategic oversight and improve investment strategies at IESC.