MINNEAPOLIS--(BUSINESS WIRE)--The Valspar Corporation (NYSE: VAL) announced today that James L. Muehlbauer has been named Executive Vice President, Chief Financial and Administrative Officer, effective March 11, 2013. Muehlbauer, 51, will replace Lori A. Walker who will retire in April.
Muehlbauer has over 25 years of experience in senior leadership roles in finance and operations. Prior to joining Valspar, Muehlbauer was EVP and Chief Financial Officer of Best Buy Company, Inc. Muehlbauer also held leadership positions at The Pillsbury Company and PriceWaterhouseCoopers. In addition to his proven financial leadership, Muehlbauer brings significant executive experience in global business and consumer brands.
As Chief Financial and Administrative Officer, Muehlbauer will be responsible for all aspects of global finance, strategic planning, corporate development, information technology and communications.
“We’re pleased to have such a strong leader join our company,” said Gary E. Hendrickson, Chairman and Chief Executive Officer. “Jim’s expertise in growing large global enterprises and his hands-on business experience in retail and consumer brands make him an excellent addition to our management team. Jim will play a significant role at Valspar as we pursue long term strategic growth opportunities.”
Commenting on his appointment, Muehlbauer said, “This is a very exciting time to be joining Valspar. Gary and his leadership team have successfully transformed Valspar into a growing global company with a portfolio of world-class brands, products and customers. I’m energized by the opportunity to help Valspar achieve industry leadership and reach its strategic plans of driving profitable growth and growing returns for shareholders.”
About The Valspar Corporation
The Valspar Corporation
(NYSE: VAL) is a global leader in the paint and coatings industry. Since
1806, Valspar has been dedicated to bringing customers the latest
innovations, the finest quality and the best customer service in the
coatings industry. For more information, visit www.valsparglobal.com.
FORWARD-LOOKING STATEMENTS
Certain statements contained
in “Management’s Discussion and Analysis of Financial Condition and
Results of Operations” and elsewhere in this report constitute
“forward-looking statements” within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. The Private Securities Litigation
Reform Act of 1995 provides a safe harbor for forward-looking
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other factors include, but are not limited to, deterioration in general
economic conditions, both domestic and international, that may adversely
affect our business; fluctuations in availability and prices of raw
materials, including raw material shortages and other supply chain
disruptions, and the inability to pass along or delays in passing along
raw material cost increases to our customers; dependence of internal
sales and earnings growth on business cycles affecting our customers and
growth in the domestic and international coatings industry; market share
loss to, and pricing or margin pressure from, larger competitors with
greater financial resources; significant indebtedness that restricts the
use of cash flow from operations for acquisitions and other investments;
dependence on acquisitions for growth, and risks related to future
acquisitions, including adverse changes in the results of acquired
businesses, the assumption of unforeseen liabilities and disruptions
resulting from the integration of acquisitions; risks and uncertainties
associated with operations and achievement of profitable growth in
developing markets, including Asia and Central and South America; loss
of business with key customers; damage to our reputation and business
resulting from product claims or recalls, litigation, customer
perception and other matters; our ability to respond to technology
changes and to protect our technology; changes in governmental
regulation, including more stringent environmental, health and safety
regulations; our reliance on the efforts of vendors, government
agencies, utilities and other third parties to achieve adequate
compliance and avoid disruption of our business; unusual weather
conditions adversely affecting sales; changes in accounting policies and
standards and taxation requirements such as new tax laws or revised tax
law interpretations; the nature, cost and outcome of pending and future
litigation and other legal proceedings; and civil unrest and the
outbreak of war and other significant national and international events.
We undertake no obligation to subsequently revise any forward-looking
statement to reflect new information, events or circumstances after the
date of such statement, except as required by law.