Mayville Engineering Company Announces Appointment of Sean Leuba as Senior Vice President, Corporate Development and General Counsel

Rhea-AI Summary

Mayville Engineering Company (NYSE: MEC) announced the appointment of Sean Leuba as Senior Vice President, Corporate Development and General Counsel, effective January 25, 2023. Mr. Leuba brings over two decades of experience in public-company development and legal expertise from Caterpillar (NYSE: CAT). CEO Jag Reddy expressed confidence that Leuba's leadership will significantly contribute to MEC's growth objectives across various markets. Leuba stated his eagerness to execute the company's long-term growth plan during this transformative period.

Positive

• Appointment of Sean Leuba expected to enhance corporate development and legal strategies.
• Leuba's experience with Caterpillar provides valuable insights into market opportunities.
• Leadership transition aligned with a compelling long-term growth and value creation plan.

Negative

• Concerns about continuity due to leadership change in a transformative phase.

MAYVILLE, Wis.--(BUSINESS WIRE)-- Mayville Engineering Company (NYSE: MEC) (the “Company” or “MEC”), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end-markets, today announced the appointment of Sean Leuba as Senior Vice President, Corporate Development and General Counsel effective January 25, 2023 reporting directly to President and Chief Executive Officer, Jag Reddy.

Mr. Leuba brings to MEC more than two decades of public-company development, operations and legal expertise within the machinery and manufacturing industries. Throughout his career, Mr. Leuba has been integral in leading corporate development efforts, while utilizing his extensive legal experience.

“We are pleased to welcome Sean to MEC’s executive leadership team,” said Jag Reddy, President and CEO of Mayville Engineering Company. “Sean’s deep corporate development experience and legal acumen will be of significant value to our organization. With Sean’s leadership experience at Caterpillar, he understands the value we provide across each phase of the product lifecycle, along with the opportunities for growth that lay ahead for MEC, both in existing and growth-oriented adjacent markets. We look forward to leveraging his deep industry expertise and skillset to advance our growth objectives.”

“I am thrilled to join the MEC team during this exciting period of business transformation,” stated Sean Leuba, incoming Senior Vice President of Corporate Development and General Counsel. “The board and leadership have outlined a compelling plan for long-term growth and value creation, one that I am eager to execute upon in the years ahead.”

ABOUT SEAN LEUBA

For more than twenty-three years, Mr. Leuba served in a variety of operations, legal and corporate development roles with Caterpillar Inc. (NYSE: CAT), the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Most recently, Mr. Leuba served as the Head of Corporate Development for Caterpillar. Previously, he served in multiple progressively senior roles, including as General Manager, Caterpillar Electric Power Division and General Manager, Caterpillar Remanufactured Products Division. He started his career with Caterpillar as a corporate attorney. Prior to joining Caterpillar, he practiced law with Arnold & Porter in its Washington, DC office focusing on corporate, securities, M&A, and venture capital. Mr. Leuba has an MBA in Finance from the University of Chicago, a JD from the Washington and Lee University School of Law, and a BA from the University of Maryland Baltimore County.

ABOUT MAYVILLE ENGINEERING COMPANY

Founded in 1945, MEC is a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end-markets. Our customers operate in diverse end markets, including heavy- and medium-duty commercial vehicles, construction & access equipment, powersports, agriculture, military, and other end markets. Along with process engineering and development services, MEC maintains an extensive manufacturing infrastructure with 20 facilities across seven states.

MEC produces metal components that are used in a broad range of heavy- and medium-duty commercial vehicles, construction, powersports, agricultural, military and other products. For more information, please visit www.mecinc.com.

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements that reflect plans and beliefs. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause MEC’s actual results and performance to be materially different from any future results or performance, including, among others, the risk factors described in our reports filed or expected to be filed with the SEC. Any forward-looking statement or statement of belief speaks only as of the date of this press release. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230126005355/en/

INVESTOR CONTACT

Stefan Neely or Noel Ryan

(615) 844-6248

MEC@val-adv.com

Source: Mayville Engineering Company

FAQ

What is the significance of Sean Leuba's appointment at Mayville Engineering Company?

Sean Leuba's appointment as Senior VP, Corporate Development and General Counsel is significant as he brings extensive industry experience, particularly from Caterpillar, which may help drive MEC's growth and corporate strategies.

When did Sean Leuba start his role at Mayville Engineering Company?

Sean Leuba began his role as Senior Vice President and General Counsel on January 25, 2023.

What are the anticipated impacts of Sean Leuba's expertise on MEC?

Leuba's expertise in corporate development and operations is expected to strengthen MEC's growth initiatives and competitive positioning in the market.

How does Sean Leuba's experience with Caterpillar benefit MEC?

His leadership experience at Caterpillar provides MEC with insights into the manufacturing industry and potential growth areas, enhancing their strategic direction.