Sypris Appoints Rachel Ainsworth Brady, Esq. as Senior Corporate Counsel and Secretary

Rhea-AI Summary

Sypris Solutions (Nasdaq: SYPR) has appointed Rachel Ainsworth Brady, Esq. as Senior Corporate Counsel and Secretary, effective July 8, 2024. Based in Louisville, Kentucky, Brady will report to Jeffrey T. Gill, Chairman, President, and CEO of Sypris Solutions.

Brady previously served as Corporate Counsel at American Commercial Barge Line since 2019, having joined the company in 2016 as Associate Corporate Counsel. She has also held positions at Kinetic Vision, Steel Technologies, and Phillips Parker Orberson & Arnett.

Brady holds a Bachelor of Arts in English and a cum laude Juris Doctor from the University of Louisville. Her extensive legal and risk management experience is expected to contribute significantly to Sypris Solutions' growth and profitability.

Sypris Solutions is a diversified manufacturing and engineering services company serving the defense, transportation, communications, and energy industries.

Positive

• Appointment of Rachel Ainsworth Brady, a highly experienced legal professional, as Senior Corporate Counsel and Secretary.
• Brady's extensive background in legal and risk management is expected to aid in Sypris Solutions' growth and profitability.

Negative

• Potential concerns over continuity and seamless transition in leadership roles.

LOUISVILLE, Ky.--(BUSINESS WIRE)-- Sypris Solutions, Inc. (Nasdaq/GM: SYPR) announced today the appointment of Rachel Ainsworth Brady, Esq. to the position of Senior Corporate Counsel and Secretary, effective July 8, 2024. Ms. Brady will be located at the Company’s headquarters in Louisville, Kentucky and will report to Jeffrey T. Gill, Chairman, President and Chief Executive Officer of Sypris Solutions, Inc.

Prior to joining Sypris, Ms. Brady most recently served as Corporate Counsel with American Commercial Barge Line, a marine transportation company, since 2019. Ms. Brady began her career with American Commercial Barge Line in 2016 as its Associate Corporate Counsel.

In addition to American Commercial Barge Line, Ms. Brady served in a number of increasingly responsible legal positions with Kinetic Vision, Steel Technologies LLC and Phillips Parker Orberson & Arnett from 2014 to 2018.

Ms. Brady holds a Bachelor of Arts in English from the University of Louisville and a Juris Doctor, cum laude, from the University of Louisville’s Louis D. Brandeis School of Law. She brings a wealth of knowledge and experience managing and directing corporate legal and risk initiatives.

Commenting on the announcement, Jeffrey T. Gill, Chairman, President and Chief Executive Officer of Sypris Solutions, said, “We are incredibly pleased to announce the addition of Rachel to our executive team. Her extensive experience, industry knowledge and track record of success will be invaluable in the continued development of Sypris Solutions into a larger, increasingly profitable company.”

Sypris Solutions is a diversified manufacturing and engineering services company serving the defense, transportation, communications, and energy industries. For more information about Sypris Solutions, visit its Web site at www.sypris.com.

Forward-Looking Statements

This press release contains “forward-looking” statements within the meaning of the federal securities laws. Forward-looking statements include our plans and expectations of future financial and operational performance. Each forward-looking statement herein is subject to risks and uncertainties, as detailed in our most recent Form 10-K and Form 10-Q and other SEC filings. Briefly, we currently believe that such risks also include the following: the fees, costs and supply of, or access to, debt, equity capital, or other sources of liquidity; our failure to achieve profitability on a timely basis by steadily increasing our revenues from profitable contracts with a diversified group of customers, which would cause us to continue to use existing cash resources or require us to sell assets to fund operating losses; cost, quality and availability or lead times of raw materials and electronic components, natural gas or utilities including increased cost relating to inflation; dependence on, retention or recruitment of key employees and highly skilled personnel and distribution of our human capital; the cost, quality, timeliness, efficiency and yield of our operations and capital investments, including the impact of inflation, tariffs, product recalls or related liabilities, employee training, working capital, production schedules, cycle times, scrap rates, injuries, wages, overtime costs, freight or expediting costs; volatility of our customers’ forecasts and our contractual obligations to meet current scheduling demands and production levels, which may negatively impact our operational capacity and our effectiveness to integrate new customers or suppliers, and in turn cause increases in our inventory and working capital levels; our failure to successfully complete final contract negotiations with regard to our announced contract “orders”, “wins” or “awards”; significant delays or reductions due to a prolonged continuing resolution or U.S. government shut down reducing the spending on products and services; adverse impacts of new technologies or other competitive pressures which increase our costs or erode our margins; breakdowns, relocations or major repairs of machinery and equipment, especially in our Toluca Plant; the termination or non-renewal of existing contracts by customers; the costs and supply of insurance on acceptable terms and with adequate coverage; the costs of compliance with our auditing, regulatory or contractual obligations; health care or other benefit costs; our failure to successfully win new business or develop new or improved products or new markets for our products; war, geopolitical conflict, terrorism, or political uncertainty, including disruptions resulting from the Russia-Ukraine war or the Israel and Gaza conflict, including arising out of international sanctions, foreign currency fluctuations and other economic impacts; our reliance on a few key customers, third party vendors and sub-suppliers; inventory valuation risks including excessive or obsolescent valuations or price erosions of raw materials or component parts on hand or other potential impairments, non-recoverability or write-offs of assets or deferred costs; disputes or litigation involving governmental, supplier, customer, employee, creditor, stockholder, product liability, warranty or environmental claims; failure to adequately insure or to identify product liability, environmental or other insurable risks; unanticipated or uninsured product liability claims, disasters, public health crises, losses or business risks; labor relations; strikes; union negotiations; costs associated with environmental claims relating to properties previously owned; our inability to patent or otherwise protect our inventions or other intellectual property rights from potential competitors or fully exploit such rights which could materially affect our ability to compete in our chosen markets; changes in licenses, security clearances, or other legal rights to operate, manage our work force or import and export as needed; cyber security threats and disruptions, including ransomware attacks on our systems and the systems of third-party vendors and other parties with which we conduct business, all of which may become more pronounced in the event of geopolitical conflicts and other uncertainties, such as the conflict in Ukraine; our ability to maintain compliance with the Nasdaq listing standards minimum closing bid price; risks related to owning our common stock, including increased volatility; possible public policy response to a public health emergency, including U.S. or foreign government legislation or restrictions that may impact our operations or supply chain; or unknown risks and uncertainties. We undertake no obligation to update our forward-looking statements, except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240711180083/en/

Richard L. Davis

Chief Financial Officer

(502) 329-2000

Source: Sypris Solutions, Inc.

FAQ

When will Rachel Ainsworth Brady start her role at Sypris Solutions?

Rachel Ainsworth Brady will start her role on July 8, 2024.

What position has Rachel Ainsworth Brady been appointed to at Sypris Solutions?

Rachel Ainsworth Brady has been appointed as Senior Corporate Counsel and Secretary.

What is Rachel Ainsworth Brady's previous experience before joining Sypris Solutions?

Rachel Ainsworth Brady served as Corporate Counsel at American Commercial Barge Line and held positions at Kinetic Vision, Steel Technologies, and Phillips Parker Orberson & Arnett.

What are Rachel Ainsworth Brady's educational qualifications?

Rachel Ainsworth Brady holds a Bachelor of Arts in English and a Juris Doctor from the University of Louisville's Louis D. Brandeis School of Law, graduating cum laude.

How will Rachel Ainsworth Brady's appointment impact Sypris Solutions?

Rachel Ainsworth Brady's extensive experience in legal and risk management is expected to contribute to Sypris Solutions' growth and profitability.