Myers Industries Appoints Paul Johnson to Lead Distribution Segment
Myers Industries, a manufacturer of polymer products, announced the appointment of Paul Johnson as the new Business Vice President for its Distribution Segment, effective March 15, 2021. Johnson brings over 30 years of automotive industry experience, previously serving as President of International Brake Industries. His leadership is expected to support Myers' goals of organic growth and operational excellence. The company also expressed gratitude to outgoing VP Chris DuPaul for establishing a strong foundation in the segment.
- Paul Johnson's extensive experience in automotive distribution may lead to enhanced growth opportunities.
- The leadership change signifies a commitment to operational excellence and organic growth.
- Transitioning leadership may introduce short-term uncertainty as the company adjusts.
Myers Industries, Inc. (NYSE: MYE), a manufacturer of polymer products and distributor for the tire, wheel and under-vehicle service industry, today announced the appointment of Paul Johnson as Myers’ Business Vice President, Distribution Segment. Johnson will be responsible for leading Myers’ growing Distribution segment and will assume the role on March 15, 2021.
“I am pleased to welcome Paul Johnson to Myers Industries. Paul has over 30 years of experience in the auto and automotive aftermarket industries. Paul’s deep understanding of the automotive distribution market will be critical to the success of the Distribution Segment,” said Mike McGaugh, President and Chief Executive Officer of Myers Industries. “I also wish to thank Chris DuPaul for his contributions to Myers and his leadership in building a strong foundation for our Distribution segment. While Chris is returning to his roots in the healthcare industry, we are grateful for his success in driving annual revenue growth and improved profitability within the segment.”
“I am honored to join Myers Industries at such a critical time in the Company’s history,” said Johnson. “Myers’ mission to become an industry leader that is keenly focused on driving organic growth initiatives, as well as commercial and operational excellence, provides an exciting opportunity to leverage my automotive aftermarket experience to build on the success Chris and his team established in 2020.”
Johnson brings significant sector-specific leadership and experience to Myers across finance, operations, and sales roles. Prior to joining Myers, Johnson was the President of International Brake Industries, a private-equity portfolio company specializing in brake-related components for the North American automotive aftermarket. He also held several sales and leadership positions at the NTN Corporation, Federal-Mogul Corporation, Boeing, as well as 19 years at General Motors. Johnson received his BS in Aeronautical and Astronautical Engineering from Purdue University and his MBA from the University of Michigan.
About Myers Industries
Myers Industries, Inc. is a manufacturer of polymer products for industrial, agricultural, automotive, commercial, and consumer markets. The Company is also the largest distributor of tools, equipment and supplies for the tire, wheel and under-vehicle service industry in the United States. Visit www.myersindustries.com to learn more.
Caution on Forward-Looking Statements
Statements in this release include “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement that is not of historical fact may be deemed “forward-looking”. Words such as “will”, “expect”, “believe”, “project”, “plan”, “anticipate”, “intend”, “objective”, “outlook”, “target”, “goal”, “view” and similar expressions identify forward-looking statements. These statements are based on management's current views and assumptions of future events and financial performance and involve a number of risks and uncertainties, many outside of the Company's control that could cause actual results to materially differ from those expressed or implied. Risks and uncertainties include: impacts from the COVID-19 pandemic on our business, conditions, customers and capital position; the impact of COVID-19 on local, national and global economic conditions; the effects of various governmental responses to the COVID-19 pandemic, raw material availability, increases in raw material costs, or other production costs; risks associated with our strategic growth initiatives or the failure to achieve the anticipated benefits of such initiatives; unanticipated downturn in business relationships with customers or their purchases; competitive pressures on sales and pricing; changes in the markets for the Company’s business segments; changes in trends and demands in the markets in which the Company competes; operational problems at our manufacturing facilities, or unexpected failures at those facilities; future economic and financial conditions in the United States and around the world; inability of the Company to meet future capital requirements; claims, litigation and regulatory actions against the Company; changes in laws and regulations affecting the Company; impact of the U.S. elections impacts on the regulatory landscape, capital markets, and responses to and management of the COVID-19 pandemic including further economic stimulus from the federal government; and other important factors detailed previously and from time to time in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and subsequent Quarterly Reports on Form 10-Q. Such reports are available on the Securities and Exchange Commission's public reference facilities and its website at www.sec.gov and on the Company's Investor Relations section of its website at www.myersindustries.com. Myers Industries undertakes no obligation to publicly update or revise any forward-looking statements contained herein. These statements speak only as of the date made.
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