Welbilt Promotes Haresh Shah to Senior Vice President and Chief Financial Officer

Haresh Shah. (Photo: Business Wire)

Haresh Shah. (Photo: Business Wire)

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NEW PORT RICHEY, Fla.--()--Following a thorough search involving both internal and external candidates, Welbilt, Inc. (NYSE:WBT) announced today that Haresh Shah is promoted to Senior Vice President and Chief Financial Officer effective today. Shah will assume the leadership of Welbilt’s finance organization from John Stewart, who will be retiring on May 5th.

Shah, 48, joined Welbilt in June 2016 as Vice President, Corporate Controller and Chief Accounting Officer. Prior to Welbilt, Shah was Vice President, Corporate Controller for Syniverse Technologies Inc. from 2012 to June 2016. Before Syniverse, he held various financial leadership roles at Amkor Technology, Inc. from 2008 to 2012 and Alcatel-Lucent S.A. from 2000 to 2008. From 1995 to 2000, he was an Audit Manager for PricewaterhouseCoopers LLP. Shah earned a Bachelor degree in accountancy from Bernard M. Baruch College in New York and is a Certified Public Accountant.

“Haresh brings strong financial executive experience with large global companies to his new role,” said Hubertus Muehlhaeuser, Welbilt’s President and CEO. “Haresh has had several international assignments in the APAC and EMEA regions, bringing valuable local experience in our two key growth regions. He also has worked on multiple international mergers and acquisitions, which is an important part of our strategic growth plan. His background as well as his deep insights into our organization and successful restructuring journey makes him ideally suited for his new role and set him apart from the other candidates we identified in our robust search process.”

“I’d like to again thank John Stewart for all of his contributions to our successful spin-off, for building a great finance team and for agreeing to delay his retirement for a week to insure a smooth transition to Haresh. I wish him well in his future endeavors,” concluded Muehlhaeuser.

About Welbilt, Inc.

Welbilt, Inc. provides the world’s top chefs, premier chain operators and growing independents with industry-leading equipment and solutions. Our innovative products and solutions are powered by our deep knowledge, operator insights, and culinary expertise. We offer fully-integrated kitchen systems and our products are backed by KitchenCare® aftermarket parts and service. Headquartered in the Tampa Bay area, Florida, and operating 17 manufacturing facilities throughout the Americas, Europe and Asia, the company sells through a global network of over 3,000 distributors and dealers in over 100 countries. The company has approximately 5,500 employees and generated sales of $1.46 billion in 2016. Its portfolio of award-winning brands includes Cleveland™, Convotherm®, Delfield®, fitkitchenSM, Frymaster®, Garland®, Kolpak®, Lincoln™, Manitowoc® Ice, Merco®, Merrychef® and Multiplex®. For more information, visit www.welbilt.com.

Contacts

Welbilt, Inc.
Rich Sheffer, +1 727-853-3079
Vice President of Investor Relations and Treasurer
Richard.sheffer@welbilt.com

Release Summary

Welbilt Promotes Haresh Shah to Senior Vice President and Chief Financial Officer

Contacts

Welbilt, Inc.
Rich Sheffer, +1 727-853-3079
Vice President of Investor Relations and Treasurer
Richard.sheffer@welbilt.com