Virtus Industries Announces Appointment of New CEO

FRANKLIN, Tenn.--(BUSINESS WIRE)--Virtus Industries Inc. is delighted to announce the appointment of Michael Blatz as its new CEO and a director of the company. This appointment is effective immediately and follows the decision of Steve Drew to retire from the company in 2021.

Prior to this appointment, Michael held executive level positions at companies both in a private equity and in industrial settings including most recently CEO roles at VIP Cinema Seating and Bull Moose Industries. His previous experience also includes roles at Lennox International and Carrier Corporation.

“We are fortunate to have someone of Michael’s caliber and experience step up to lead Virtus Industries,” said David Lilley, Chairman of Virtus Industries. “We are at a critical moment and we are thrilled to engage with Michael to successfully implement our strategy and take advantage of the market opportunities ahead. Michael has a track record as a transformative leader focused on business and enterprise growth and strategic diversification. His background also provides a solid understanding of our products and markets.”

Blatz said, “I am honored and excited to lead Virtus Industries. In light of several macro trends, I believe our current customers – and future customers -- are just at the beginning of re-evaluating their supply chains and the widespread reengineering of traditional industrial processes. I believe Virtus is currently well positioned to benefit from both of these dynamics. Our intention is to be a strategic partner to our customers as they work to improve and de-risk their businesses.”

Speaking on behalf of the board, David Lilley said, “We very much appreciate Steve’s efforts and his service to Virtus Industries since his appointment last year. Steve has positioned the business well during his time in charge. We believe Michael has the right leadership abilities, operational knowledge and communication skills to build on the work Steve has started.”

Virtus supplies a range of high precision copper, brass and aluminum components to over a thousand customers and are found in a wide range of everyday products. End markets for Virtus components include air conditioners, refrigeration, specialty vehicles and distributed power generation. Virtus subsidiaries now operate six facilities across the USA, Mexico, and Canada.