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Valmont Appoints Gene Padgett as Senior Vice President, Finance and Chief Accounting Officer
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Valmont Industries (NYSE: VMI) announces the appointment of Gene Padgett as SVP, Finance and Chief Accounting Officer, effective November 1, 2022. Padgett, who has nearly three decades of experience, will oversee accounting and SEC reporting, reporting directly to CFO Avner Applbaum. Previously, he served as Chief Accounting Officer at DXP Enterprises and held roles at Enbridge Energy and Duke Energy. Additionally, Tim Francis has been appointed as Senior Vice President and Finance Business Partner, Global Operations. Both appointments aim to enhance Valmont's global finance and operational efficiency.
Positive
Gene Padgett brings nearly 30 years of financial expertise, which may enhance Valmont's strategic finance functions.
Tim Francis's new role is expected to drive operational excellence initiatives, improving efficiency.
Negative
None.
OMAHA, Neb.--(BUSINESS WIRE)--
Valmont Industries, Inc. (NYSE: VMI), a leading global provider of engineered products and services for infrastructure development and irrigation equipment and services for agriculture, today announced Gene Padgett will join the company as SVP, Finance and Chief Accounting Officer effective November 1, 2022. Mr. Padgett will be an integral leader on the finance team overseeing the Company’s accounting and SEC reporting functions, and reporting directly to Avner Applbaum, EVP and Chief Financial Officer.
Gene Padgett. (Photo: Business Wire)
Prior to joining Valmont, Mr. Padgett was SVP and Chief Accounting Officer for DXP Enterprises, a distributor of maintenance, repair, operating and production (MROP) products and services. He previously held controllership and tax roles at Enbridge Energy (formerly Spectra Energy Corporation) and Duke Energy Corporation and spent over 5 years at PricewaterhouseCoopers. He holds a BBA in Accounting from Prairie View A&M University in Texas and is a Certified Public Accountant.
“Gene is a well-rounded executive with the deep strategic and tactical expertise necessary to further advance our global finance and controllership organization,” said Mr. Applbaum. “With nearly three decades of experience and a demonstrated track record of success, he will play a key role in implementing advanced technology and automation to streamline processes, redeploy capital and strategically position talent. We are pleased to have him on the Valmont management team and look forward to his leadership.”
Applbaum continued, “Additionally, I’m pleased to announce that Tim Francis has been appointed Senior Vice President and Finance Business Partner, Global Operations, a newly-created position with a matrixed reporting structure to me and Diane Larkin, Executive Vice President, Global Operations. Tim is an accomplished financial executive, whose career with Valmont spans more than 8 years as SVP and Corporate Controller, with previous financial leadership roles at Burlington Capital Group LLC and America First Multifamily Investors L.P. His expertise and leadership will help drive several strategic operational excellence initiatives, including industry 4.0, advanced manufacturing and supply chain optimization as we continue to streamline operating models and maximize the efficiency of our global footprint.”
About Valmont Industries, Inc.
For over 75 years, Valmont® has been a global leader in creating vital infrastructure and advancing agricultural productivity. Today, we remain committed to doing more with less by innovating through technology. Learn more about how we’re Conserving Resources. Improving Life.® at valmont.com.
Who is Gene Padgett and what role is he taking at Valmont Industries?
Gene Padgett is appointed as SVP, Finance and Chief Accounting Officer at Valmont Industries, effective November 1, 2022.
What experience does Gene Padgett have before joining Valmont Industries?
Prior to Valmont, Gene Padgett was SVP and Chief Accounting Officer at DXP Enterprises and has held roles at Enbridge Energy and Duke Energy.
What is the significance of Tim Francis's new position at Valmont Industries?
Tim Francis's appointment as Senior Vice President and Finance Business Partner, Global Operations, aims to enhance operational efficiency through various strategic initiatives.
When did the management changes at Valmont Industries take effect?
The management changes, including Padgett's appointment, took effect on November 1, 2022.
