STRATTEC SECURITY CORPORATION Appoints Chey Becker-Varto as Chief Commercial Officer and Linda Redmann as Chief People Officer

Rhea-AI Summary

STRATTEC SECURITY (Nasdaq: STRT) has appointed Chey Becker-Varto as Chief Commercial Officer and Linda Redmann as Chief People Officer, effective November 11, 2024. Both will report to CEO Jennifer L. Slater. Becker-Varto, previously Chief Commercial Officer at Vayan Group, brings experience in driving revenue growth and implementing sophisticated customer management systems. Redmann, formerly an Executive HR Consultant at Korn Ferry and Bolder HR, brings expertise in human capital strategies and organizational transformation. These appointments are part of STRATTEC's strategy to strengthen its organizational structure and improve business performance.

Positive

• Strategic leadership expansion with experienced executives
• Previous success of Becker-Varto in doubling sales pipeline at Vayan Group
• Addition of specialized HR leadership position to strengthen organizational structure

Negative

• None.

MILWAUKEE--(BUSINESS WIRE)-- STRATTEC SECURITY CORPORATION (Nasdaq: STRT) (“STRATTEC” or “Company”), a leading provider of smart vehicle power access, security & authorization solutions for the global automotive industry, today announced the appointment of Chey Becker-Varto as Chief Commercial Officer and Linda Redmann as Chief People Officer, a newly created position. Both officers will report to CEO Jennifer L. Slater effective November 11, 2024.

Chey Becker-Varto appointed as Chief Commercial Officer (Photo: Business Wire)

Jennifer Slater, STRATTEC President and CEO, noted, “As we work to transform STRATTEC to deliver stronger earnings power we must build a solid foundation with the right organizational structure, skills and experience. Chey and Linda bring the background and leadership we need on our team to help uncover the underlying potential of this business through improved discipline, accountability, and processes.

“Chey brings an exceptional track record in delivering results in purchasing, finance, strategy, and commercial functions across multiple markets. I am confident in her leadership to execute our commercial strategy to drive profitable revenue growth. Similarly, Linda’s career is marked by a strong ability to align human capital with business objectives to achieve organizational success, and her deep expertise in talent development, structural transformation and employee communications will be instrumental in fostering a culture of excellence and collaboration,” added Ms. Slater.

Chey Becker-Varto is an accomplished leader with diverse experience across multiple industries, driving revenue growth and resolving complex issues. Most recently, she served as Chief Commercial Officer at Vayan Group, where she doubled the sales pipeline, implemented more sophisticated customer relationship management systems, and established a prescriptive revenue forecasting process. Previously, Ms. Becker-Varto was Vice President of Sales-Americas, at Clarios. Earlier roles at JD Norman Industries and GST AutoLeather involved leading global sales and purchasing efforts, where she delivered growth, optimized procurement strategies, and enhanced organizational processes. She began her career at Lear Corporation where she advanced through roles of increasing responsibility. Ms. Becker-Varto holds a Masters in Information Management & Communications from Walsh College and a dual Bachelor of Science in International Business & Spanish. From Central Michigan University including study abroad in Morelia, Mexico.

Linda Redmann’s experience spans people leadership roles across world-class, high-growth organizations. Most recently, she served as an Executive HR Consultant for Korn Ferry and Bolder HR, where she advised CEOs and leadership teams on human capital strategies, including talent acquisition, organizational design, and M&A integration. Previously, she was Senior Vice President of People and Culture at SomaLogic, where she led the HR efforts required for its transition to becoming a public company. At Zimmer Biomet, as Global Division Leader HR, Ms. Redmann drove cultural transformation and organizational redesign, supporting market share growth in a challenging industry environment. She also held senior roles at Surgical Solutions and Leica Biosystems. She earned her Masters of Business Administration from Loyola University Chicago and Bachelor of Business Administration from Tiffin University.

About STRATTEC

STRATTEC is a leading global provider of advanced automotive access, security & authorization and select user interface solutions. With a history spanning over 110 years, STRATTEC has consistently been at the forefront of innovation in vehicle security, transitioning from mechanical to integrated electro-mechanical systems. The Company serves a broad range of customers, including leading automotive OEMs, offering power access solutions and advanced security systems that include door handles, lift gates, latches, and key fobs.

For more information on STRATTEC and its solutions, visit www.strattec.com.

Safe Harbor Statement

Certain statements contained in this release contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words or phrases such as “anticipate,” “believe,” “could,” “expect,” “intend,” “may,” “planned,” “potential,” “should,” “will,” and “would.” Such forward-looking statements are inherently subject to many uncertainties in the Company’s operations and business environment. These uncertainties include general economic conditions, in particular, relating to the automotive industry, consumer demand for the Company’s and its customers’ products, competitive and technological developments, customer purchasing actions, changes in warranty provisions and customer product recall policies, work stoppages at the Company or at the location of its key customers as a result of labor disputes, foreign currency fluctuations, uncertainties stemming from U.S. trade policies, tariffs and reactions to same from foreign countries, the volume and scope of product returns, adverse business and operational issues resulting from the continuing effects of the coronavirus (COVID-19) pandemic, matters adversely impacting the timing and availability of component parts and raw materials needed for the production of our products and the products of our customers and fluctuations in our costs of operation (including fluctuations in the cost of raw materials). Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances occurring after the date of this release. In addition, such uncertainties and other operational matters are discussed further in the Company’s quarterly and annual filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241104708510/en/

Investors:

Deborah K. Pawlowski

Alliance Advisors IR

Phone: 716-843-3908

Email: dpawlowski@allianceadvisors.com

Source: STRATTEC SECURITY CORPORATION

FAQ

When will Chey Becker-Varto and Linda Redmann start their new roles at STRATTEC (STRT)?

Both executives will begin their roles at STRATTEC effective November 11, 2024.

What is Chey Becker-Varto's previous experience before joining STRATTEC (STRT)?

Becker-Varto was previously Chief Commercial Officer at Vayan Group, where she doubled the sales pipeline. She also held leadership positions at Clarios, JD Norman Industries, GST AutoLeather, and Lear

What is Linda Redmann's role at STRATTEC (STRT)?

Linda Redmann has been appointed as Chief People Officer, a newly created position at STRATTEC.