Twin Disc Appoints Kevin Olsen to Its Board of Directors

Rhea-AI Summary

Twin Disc, Inc. (NASDAQ: TWIN) has appointed Kevin Olsen to its Board of Directors as of August 8, 2022. Olsen, currently the CEO of Dorman Products, brings substantial experience in executive leadership and financial management from his tenure at various esteemed organizations. His previous role as CFO at Dorman and diverse experiences at Colfax and Danaher enhance his qualifications.

CEO John H. Batten expressed confidence that Olsen's expertise will positively impact Twin Disc and its shareholders, assisting the company in navigating future challenges.

Positive

• Appointment of Kevin Olsen expected to enhance leadership and financial governance.
• Olsen's extensive experience in executive roles may bring fresh perspectives to the Board.

Negative

• Possible concerns regarding continuity if Olsen's transition takes time.

RACINE, Wis., Aug. 08, 2022 (GLOBE NEWSWIRE) -- Twin Disc, Inc. (NASDAQ: TWIN) a global leader in power transmission technology for marine, land-based and oil & gas applications, has appointed Kevin Olsen to its Board of Directors.

Mr. Olsen is currently the President and Chief Executive Officer of Dorman Products, Inc. (NASDAQ: DORM) and also serves as a member of Dorman’s Board of Directors. Mr. Olsen previously served as Dorman’s Chief Financial Officer from 2016 to 2018. Dorman Products, Inc. is a leading supplier of replacement parts and fasteners for passenger cars and light-, medium-, and heavy-duty vehicles in the motor vehicle aftermarket industry. Prior to Dorman, Mr. Olsen held a variety of senior leadership positions at companies such as Colfax, Crane Co., Netshape Technologies, Inc. and Danaher Corporation. Prior thereto, Mr. Olsen performed public accounting work at PricewaterhouseCoopers LLP.

“We are pleased to welcome Kevin to our Board of Directors and are confident that his background and experience will benefit Twin Disc and its shareholders,” said John H. Batten, Chief Executive Officer. “His experience in executive leadership and financial management with large organizations, will be a tremendous asset for Twin Disc.”

About Twin Disc
Twin Disc, Inc. designs, manufactures and sells marine and heavy-duty off-highway power transmission equipment. Products offered include marine transmissions, azimuth drives, surface drives, propellers, and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches, and control systems. The Company sells its products to customers primarily in the pleasure craft, commercial and military marine markets, as well as in the energy and natural resources, government, and industrial markets. The Company’s worldwide sales to both domestic and foreign customers are transacted through a direct sales force and a distributor network. For more information, please visit www.twindisc.com.

Contact: Jeffrey S. Knutson
(262) 638-4242

FAQ

Who is Kevin Olsen?

Kevin Olsen is the newly appointed member of Twin Disc's Board of Directors, currently serving as President and CEO of Dorman Products.

What experience does Kevin Olsen bring to Twin Disc?

Olsen has significant experience in executive leadership and financial management, having served as CFO at Dorman Products and in various senior roles at other companies.

What impact could Kevin Olsen's appointment have on Twin Disc?

His extensive background may strengthen Twin Disc's governance and strategic direction, benefiting shareholders.

When was Kevin Olsen appointed to the Board?

Kevin Olsen was appointed to Twin Disc's Board of Directors on August 8, 2022.