NN, Inc. Selects Jami Statham as SVP & General Counsel

Rhea-AI Summary

NN, Inc. (NASDAQ: NNBR) has appointed Jami Statham as the new Senior Vice President, General Counsel, and Corporate Secretary. Statham brings nearly two decades of legal experience in automotive manufacturing, negotiation, and litigation. Reporting directly to CEO Harold Bevis, she is expected to enhance NN's legal and compliance strategies. Statham's background includes roles at Nexteer Automotive, Autoneum North America, and Akebono Brake Her expertise includes managing legal matters like customer negotiations and supply chain issues. Statham’s appointment is seen as a strategic move to strengthen NN’s leadership team and navigate complex global manufacturing legal challenges.

Positive

• Jami Statham brings nearly 20 years of legal experience, including roles in high-tier automotive suppliers.
• Statham's expertise in negotiation, litigation, and compliance is expected to benefit NN, Inc.'s legal strategy.
• Her previous position as Deputy General Counsel at Nexteer Automotive, a $4B company, adds significant value.

Negative

• None.

Seasoned corporate counsel brings nearly two decades of corporate legal and compliance experience in automotive manufacturing, negotiation and litigation

CHARLOTTE, N.C., July 08, 2024 (GLOBE NEWSWIRE) -- NN, Inc. (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, today announced the appointment of Jami Statham as the Company’s new Senior Vice President, General Counsel and Corporate Secretary, effective immediately. Statham will report directly to NN’s Chief Executive Officer, Harold Bevis.

“We’re excited to have Jami on board and leverage her deep experience guiding clients and companies through pivotal moments,” said Harold Bevis, President and CEO of NN, Inc. “I’ve already seen firsthand that Jami is focused, calm under pressure, and not afraid to dig into problems quickly. Her professional approach, her exposure to commercial and supply chain activities, and her previous work with both public and private companies will be a tremendous asset to our team.”

Statham brings more than 18 years of experience in the legal field. She first worked as an attorney in private practice, most recently in the corporate practice group of an AmLaw 200 law firm, and later as in-house counsel for three Tier 1 automotive suppliers. Before joining NN, Statham served as Deputy General Counsel for Nexteer Automotive, a $4B Tier 1 automotive supplier. There, she was lead counsel for the North American division overseeing all legal matters including customer negotiations, supply chain matters, and litigation, in addition to other global responsibilities. She also held senior counsel positions at Autoneum North America and Akebono Brake Corporation.

“I’m thrilled to join the talented executive team at NN and help them navigate the unique legal challenges that come with operating as a global diversified manufacturing enterprise,” said Statham. “I’ve spent much of my career advising clients and internal partners on compliance matters, commercial negotiations and supply chain agreements, and I’m excited by the opportunity that lies ahead.”

About NN, Inc.
NN, Inc., a global diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has facilities in North America, Europe, South America, and Asia. For more information about the company and its products, please visit www.nninc.com.

FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include this statement for purposes of complying with these safe harbor provisions. Except for specific historical information, many of the matters discussed in this press release may express or imply projections of revenues or expenditures, statements of plans and objectives or future operations or statements of future economic performance. These statements may discuss goals, intentions, and expectations as to future trends, plans, events, results of operations or financial condition, or state other information relating to NN, Inc. based on current beliefs of management as well as assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “possible,” “potential,” “predict,” “project” or other similar words, phrases or expressions. Forward-looking statements involve a number of risks and uncertainties that are outside of management’s control and that may cause actual results to be materially different from such forward-looking statements. Such factors include, among others, general economic conditions and economic conditions in the industrial sector; the impacts of pandemics, epidemics, disease outbreaks and other public health crises on our financial condition, business operations and liquidity; competitive influences; risks that current customers will commence or increase captive production; risks of capacity underutilization; quality issues; material changes in the costs and availability of raw materials; economic, social, political and geopolitical instability, military conflict, currency fluctuation, and other risks of doing business outside of the United States; inflationary pressures and changes in the cost or availability of materials, supply chain shortages and disruptions, the availability of labor and labor disruptions along the supply chain; our dependence on certain major customers, some of whom are not parties to long-term agreements (and/or are terminable on short notice); the impact of acquisitions and divestitures, as well as expansion of end markets and product offerings; our ability to hire or retain key personnel; the level of our indebtedness; the restrictions contained in our debt agreements; our ability to obtain financing at favorable rates, if at all, and to refinance existing debt as it matures; new laws and governmental regulations; the impact of climate change on our operations; and cyber liability or potential liability for breaches of our or our service providers’ information technology systems or business operations disruptions. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s filings made with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. The Company qualifies all forward-looking statements by these cautionary statements.

Contact:                                                                   
Joe Caminiti or Stephen Poe, Investors
Tim Peters or Emma Brandeis, Media
NNBR@alpha-ir.com
312-445-2870

FAQ

Who is the new General Counsel for NN, Inc.?

Jami Statham has been appointed as the new Senior Vice President, General Counsel, and Corporate Secretary for NN, Inc.

What experience does Jami Statham bring to NN, Inc.?

Jami Statham brings nearly 20 years of experience in legal and compliance roles, previously working with companies like Nexteer Automotive, Autoneum North America, and Akebono Brake

When was Jami Statham appointed as General Counsel for NN, Inc.?

Jami Statham was appointed as Senior Vice President, General Counsel, and Corporate Secretary for NN, Inc. on July 8, 2024.

How will Jami Statham's appointment affect NN, Inc.?

Jami Statham's extensive experience in legal matters, including negotiation and compliance, is expected to strengthen NN, Inc.'s legal strategies and support its global manufacturing operations.

What are Jami Statham's previous roles before joining NN, Inc.?

Before joining NN, Inc., Jami Statham served as Deputy General Counsel for Nexteer Automotive, and held senior legal positions at Autoneum North America and Akebono Brake