Nordson Corporation Appoints Anand Patel as Vice President, Treasury and Finance

Rhea-AI Summary

Nordson Corporation (NASDAQ: NDSN) announced that Anand Patel will succeed Ray Cushing as vice president of treasury and finance following Cushing's retirement at year-end. Anand Patel, formerly with O-I Glass, Inc. (NASDAQ: OI), has extensive experience in global treasury functions and capital market transactions. Joe Kelley, CFO, expressed confidence in Patel's ability to support Nordson’s growth trajectory. Ray Cushing oversaw significant revenue growth during his 42-year tenure, from $200 million to over $2.5 billion.

Positive

• Anand Patel's extensive experience in global treasury roles is expected to enhance Nordson's financial strategies.
• CFO Joe Kelley emphasizes the positive impact of Patel's leadership on Nordson's next growth phase.

Negative

• Ray Cushing's retirement may create a temporary gap in leadership continuity within the finance team.

WESTLAKE, Ohio--(BUSINESS WIRE)-- Nordson Corporation (NASDAQ: NDSN) announced that Anand Patel will succeed Ray Cushing as vice president, treasury and finance following Ray’s upcoming retirement.

Anand joins Nordson on September 26 from O-I Glass, Inc. (Nasdaq: OI), a global manufacturing company, where he served as vice president and treasurer. He has held roles of increasing responsibility at O-I since 2013, and prior to that he was a senior manager at Deloitte Tax LLP for nine years.

Joe Kelley, executive vice president, chief financial officer, said, “We are looking forward to welcoming Anand to Nordson’s finance team. His expertise and experience gained throughout his professional career with large, global manufacturing organizations will serve him well in supporting Nordson’s next chapter of profitable growth.”

Mr. Patel most recently was responsible for O-I’s global treasury function, which included planning and execution of capital market transactions, managing liquidity for O-I’s global operations, developing and maintaining global banking and bondholder relationships, managing foreign currency and interest rate risk, establishing capital allocation priorities, and more. At O-I, he managed a global team across several countries.

Anand succeeds Ray Cushing, who plans to retire at the end of the calendar year after 42 successful years with the company.

Joe Kelley said, “On behalf of the entire Nordson finance team, I’d like to thank Ray for his outstanding financial stewardship of the Company. Ray successfully shepherded Nordson’s treasury function from supporting a $200 million revenue business to a business with revenue of greater than $2.5 billion. That is an incredible accomplishment and one that he can take great pride in as he moves on to his next chapter in retirement.”

Nordson Corporation is an innovative precision technology company that leverages a scalable growth framework through an entrepreneurial, division-led organization to deliver top tier growth with leading margins and returns. The Company’s direct sales model and applications expertise serves global customers through a wide variety of critical applications. Its diverse end market exposure includes consumer non-durable, medical, electronics and industrial end markets. Founded in 1954 and headquartered in Westlake, Ohio, the Company has operations and support offices in over 35 countries. Visit Nordson on the web at www.nordson.com, www.twitter.com/Nordson_Corp or www.facebook.com/nordson.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220922005778/en/

Lara Mahoney

Vice President,

Corporate Communications & Investor Relations

440.204.9985

Lara.Mahoney@nordson.com

Source: Nordson Corporation

FAQ

Who is the new vice president of treasury and finance at Nordson Corporation?

Anand Patel has been appointed as the new vice president of treasury and finance, succeeding Ray Cushing.

What is Anand Patel's background before joining Nordson Corporation?

Anand Patel previously served as vice president and treasurer at O-I Glass, Inc., with a strong focus on global treasury functions.

When will Anand Patel start his role at Nordson Corporation?

Anand Patel will begin his role at Nordson Corporation on September 26.

How long did Ray Cushing serve at Nordson Corporation before retiring?

Ray Cushing served 42 years at Nordson Corporation before his retirement at the end of the calendar year.

What statement did Joe Kelley make regarding Anand Patel's appointment?

Joe Kelley, CFO, expressed optimism about Anand Patel's expertise and the contribution he will make to Nordson’s growth.