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Posted 11 July, 2023

VALMONT INDUSTRIES INC appointed new CEO

CEO Change detected for ticker NYSE:VMI in a 8-K filed on 11 July, 2023.


  Mr. Applbaum succeeds Stephen G. Kaniewski, CEO since December 31, 2017, who is stepping down to pursue other opportunities and also resigning as a member of the Board of Directors.  

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Overview of VALMONT INDUSTRIES INC
Real Estate/Construction • Building Materials/Products
Valmont Industries, Inc. engages in the manufacture of products and services for infrastructure and agriculture markets. It operates through the Infrastructure and Agriculture segments. The Infrastructure segment includes five primary product lines such as Transmission, Distribution, and Substation, Lighting and Transportation, Coatings, Telecommunications, and Renewable Energy. The Agriculture segment produces mechanized irrigation equipment and related services. The company was founded by Robert B. Daugherty in 1946 and is headquartered in Omaha, NE.
Market Cap
$4.24B
View Company Details
VALMONT INDUSTRIES INC by TradingView
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On July 11, 2023, Valmont Industries, Inc. announced that its Board of Directors has named Avner M. Applbaum, current Executive Vice President and Chief Financial Officer, as President and Chief Executive Officer, effective immediately. Mr. Applbaum succeeds Stephen G. Kaniewski, CEO since December 31, 2017, who is stepping down to pursue other opportunities and also resigning as a member of the Board of Directors. Mr. Kaniewski's departure is not related to the operations, policies, or practices of the company or any issues regarding accounting policies or practices. Valmont and Mr. Kaniewski are discussing his departure terms.


The company also announced the appointment of Timothy P. Francis, current Senior Vice President and Finance Business Partner, Global Operations, as interim Chief Financial Officer.


Mr. Applbaum, age 52, has served as Valmont's Executive Vice President and Chief Financial Officer since March 2020. Previously he served as Chief Financial Officer and Chief Operating Officer of Double E Company, an equipment manufacturer, from 2017 to March 2020.


Mr. Francis, age 46, has served as Senior Vice President and Finance Business Partner, Global Operations since June 2022. Previously he served as Senior Vice President and Controller from June 2014 to June 2022.