Lafayette-based Wabash details senior leadership changes
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Freight-trailer manufacturer Wabash on Monday announced a handful of senior leadership changes as the company looks to rebound amid weakening demand for its products and services.
Dustin Smith will step down as senior vice president and chief operating officer, the Lafayette-based company said in a news release. He will shift into a senior advisory role until Dec. 1 to help with what the company described as a planned transition.
President and CEO Brent Yeagy said in the news release that Smith has been an “invaluable” part of the company for 17 years and helped drive much of its success.
“Dustin’s collaborative spirit and genuine care for the people at Wabash have made him not just a respected leader, but a truly valued member of our team,” Yeagy said. “We wish him all the best as he embarks on this next chapter.”
Mike Pettit will transition from his current role as senior vice president and chief financial officer to a newly created position: senior vice president and chief growth officer. He will focus on driving growth initiatives, expanding market reach and improving the company’s parts and services business, the company said.
Patrick Keslin is promoted from vice president of finance to senior vice president and chief financial officer. He will oversee financial strategy, reporting and performance.
Donald Winston is promoted from vice president of global operations to senior vice president of global operations. He will oversee global procurement and also lead manufacturing and supply chain operations.
Drew Schwartzhoff is promoted from vice president of marketing to senior vice president of strategic marketing. He will lead marketing and communications and play a role in product management.
Pettit, Keslin, Winston and Schwartzhoff will begin their new roles Sept. 1.
“These leadership changes reflect our commitment to developing top talent and aligning our organization to drive future growth,” Yeagy said in the news release. “I am confident in their ability to further strengthen Wabash’s position as a visionary leader in the transportation, logistics and distribution industry.”
Wabash shares at Tuesday close were trading at $18.62, down 5.86%.
Earlier this year the company reported second quarter net sales of $550.6 million, a nearly 20% decrease from the same year-ago period. The company cited weaker demand and cut its guidance for the full year.