Valmont Appoints Stephen G. Kaniewski as CEO

June 26, 2017 farmequip

OMAHA, Neb., June 26, 2017 /PRNewswire/ — Valmont Industries, Inc. (NYSE: VMI), a leading global provider of engineered products and services for infrastructure development and mechanized irrigation equipment and services for agriculture, announced today that its board of directors has named Stephen G. Kaniewski as President and Chief Executive Officer effective December 31, 2017, the first day of Valmont's fiscal 2018. Kaniewski will succeed Mogens C. Bay, Valmont's Chairman and CEO, who will become Executive Chairman on December 31, 2017, for a transitional period.

"Steve Kaniewski is very well prepared to lead Valmont into the future," said Mr. Bay. "His broad experience with Valmont in information technology, operations and general management gives me great confidence in handing over the reins to him. He is a team oriented, effective leader and is greatly respected throughout our organization. Steve is a result-oriented executive with a keen sense of what needs to be done to continue to drive profitable growth for our company. Our company will be in good hands."

Kaniewski has been Valmont's President and Chief Operating Officer since October 2016. Prior to that he was Group President of Valmont's Utility Support Structures Segment. Steve joined Valmont in 2010 as Vice President, Information Technology and also has held the position of Vice President, Global Operations for the Irrigation Segment.

"Valmont is in great businesses, with leadership positions around the world," said Steve Kaniewski. "We operate in businesses with strong, long term and global drivers. I am honored to have been chosen to lead the company as we continue our growth while staying close to our proven strategies. I look forward to leading all of our dedicated employees and protecting the Valmont culture that has set us apart in the marketplace."

SOURCE Valmont Industries, Inc.

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