ELKHART, Ind., June 20, 2019 — Today, THOR Industries, Inc. (NYSE: THO), the world's largest recreational vehicle (RV) manufacturer, announced the creation of a new global senior management position.  The new role will play a key part in accelerating global sourcing strategies aimed at increasing efficiencies and improving operating margins. 

Troy James, Senior Vice President of International Operations, announced the addition of Chris Workman as Vice President of International Supply Chain Operations, effective today.  Workman, who will relocate to the Thor corporate headquarters in Elkhart, IN, most recently was Senior Director of Supply Chain Operations for Baxter International.  Prior to that, he held multiple senior supply chain management roles with Terex Corporation including assignments in Germany, Switzerland, Italy and China.  Workman earned his undergraduate degree from Southern Illinois University and MBA from Michigan State University.

“We are pleased to welcome Chris as our new VP of International Supply Chain Integration, having led successful, high performing international supply chain management initiatives for the past 15 years,” stated James.  “Being the market leader in North America, coupled with our recent acquisition of Erwin Hymer Group, the European market leader, we are well positioned to work with our current supply chain partners and develop new partners across the globe to continue to bring innovative, industry leading products to market.”

“I am excited to make an immediate impact in international supply chain integration,” stated Workman.  “As the global market leader in recreational vehicles, Thor is well positioned for growth both in North American and Europe.  I am excited to help guide our operating companies through opportunities with both existing and new supply partners.”

“The addition of Chris is an important piece of Thor's strategy to fast-track and maximize synergies arising from our Erwin Hymer Group acquisition,” added Bob Martin, President and CEO of Thor Industries. 

Thor is the sole owner of operating subsidiaries that, combined, represent the world's largest manufacturer of RVs. For more information, please visit: https://www.thorindustries.com/.

Forward Looking Statements

This release includes certain statements that are “forward looking” statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward looking statements are made based on management's current expectations and beliefs regarding future and anticipated developments and their effects upon Thor, and inherently involve uncertainties and risks. These forward looking statements are not a guarantee of future performance. We cannot assure you that actual results will not differ materially from our expectations. Factors which could cause materially different results include, among others, raw material and commodity price fluctuations; raw material, commodity or chassis supply restrictions; the impact of tariffs on material or other input costs; the level and magnitude of warranty claims incurred; legislative, regulatory and tax law and/or policy developments including their potential impact on our dealers and their retail customers or on our suppliers; the costs of compliance with governmental regulation; legal and compliance issues including those that may arise in conjunction with recently completed or announced transactions; lower consumer confidence and the level of discretionary consumer spending; interest rate fluctuations; the potential impact of interest rate fluctuations on the general economy and specifically on our dealers and consumers; restrictive lending practices; management changes; the success of new and existing products and services; consumer preferences; the ability to efficiently utilize production facilities; the pace of acquisitions and the successful closing, integration and financial impact thereof; the potential loss of existing customers of acquisitions; our ability to retain key management personnel of acquired companies; a shortage of necessary personnel for production; the loss or reduction of sales to key dealers; disruption of the delivery of units to dealers; increasing costs for freight and transportation; asset impairment charges; cost structure changes; competition; the impact of potential losses under repurchase or financed receivable agreements; the potential impact of the strength of the U.S. dollar on international demand for products priced in U.S. dollars; general economic, market and political conditions; the impact of changing emissions standards in the various jurisdictions in which our products are sold; and changes to investment and capital allocation strategies or other facets of our strategic plan. Additional risks and uncertainties surrounding the acquisition of Erwin Hymer Group SE (“EHG”) include risks regarding the potential benefits of the acquisition and the anticipated operating synergies, the integration of the business, the impact of exchange rate fluctuations and unknown or understated liabilities related to the acquisition and EHG's business. These and other risks and uncertainties are discussed more fully in Item 1A of our Annual Report on Form 10-K for the year ended July 31, 2018 and Part II, Item 1A of our quarterly reports on Form 10-Q for the periods ended January 31, 2019 and April 30, 2019.

We disclaim any obligation or undertaking to disseminate any updates or revisions to any forward looking statements contained in this release or to reflect any change in our expectations after the date hereof or any change in events, conditions or circumstances on which any statement is based, except as required by law.

SOURCE THOR Industries, Inc.


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