Monday, October 08, 2012
Black Box Corporation Continues CEO Succession Process – Michael McAndrew Appointed President And Chief Operating Officer
PITTSBURGH, PENNSYLVANIA, October 8, 2012 – Black Box Corporation (NASDAQ:BBOX) announced today that its Board of Directors has appointed Mr. Michael McAndrew as President and Chief Operating Officer, effective October 2, 2012. As previously announced, Mr. McAndrew will become the Company’s Chief Executive Officer and join the Board of Directors on April 1, 2013. Prior to this recent appointment, Mr. McAndrew served as the Company’s Executive Vice President, Chief Financial Officer, Treasurer and Secretary.
Mr. R. Terry Blakemore, Chief Executive Officer and Director of Black Box, noted, “The Board is very pleased with the progress that our management team has made with the thoughtful transition of executive leadership responsibilities. The appointment of Mike as President and COO at this time demonstrates confidence in his vision for the future of Black Box and the team’s ability to create value for our shareholders.”
Mr. Blakemore, will continue in his position as Chief Executive Officer until March 31, 2013 and will retire from the Company effective June 3, 2013. He is expected to remain a member of the Board of Directors until the 2013 Annual Meeting of Stockholders.
In addition to Mr. McAndrew’s appointment, the Board appointed, as Executive Officers, Kenneth P. Davis as Executive Vice President of North America Commercial Services and Timothy C. Huffmyer as Vice President, Chief Financial Officer, Treasurer and Secretary. Mr. Davis, age 48, previously served as Vice President, Voice Communications North America, Europe and Latin America. Mr. Huffmyer, age 38, previously served as Director of Finance. Mr. Davis and Mr. Huffmyer will report directly to Mr. McAndrew.
Mr. McAndrew said, “I am excited to accept the responsibilities of President and COO of Black Box, and look forward to working with our leadership team as we capitalize on the opportunities presented by the rapid changes in the communications market. I believe that Black Box has the unique capacity to expand our offerings and leverage our product and service platforms to solve our clients’ complex communications challenges.”
In addition to the Executive Officer appointments, the Company announced the promotion of Mr. Gary Williams to the role of Vice President, Government Services, Ms. Julie Lyda to the role of Vice President, Technology Product Solutions and Mr. Dwayne Diesu to the role of Vice President, Mergers and Acquisitions. Mr. Williams, Ms. Lyda and Mr. Diesu will report directly to Mr. McAndrew.
About Black Box
Black Box is a leading communications system integrator dedicated to designing, sourcing, implementing and maintaining today’s complex communications solutions. Black Box services more than 175,000 clients in approximately 150 countries with approximately 200 offices throughout the world. To learn more, visit the Black Box Web site at http://www.blackbox.com.
Black Box® and the Double Diamond logo are registered trademarks of BB Technologies, Inc.
Any forward-looking statements contained in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and speak only as of the date of this release. You can identify these forward-looking statements by the fact that they use words such as "should," "anticipate," "estimate," "approximate," "expect," "target," "may," "will," "project," "intend," "plan" and "believe" and other words of similar meaning and expression. One can also identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. Forward-looking statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. Although it is not possible to predict or identify all risk factors, such risks and uncertainties may include, among others, levels of business activity and operating expenses, expenses relating to corporate compliance requirements, cash flows, global economic and business conditions, successful integration of acquisitions, the timing and costs of restructuring programs, successful marketing of the Company's product and services offerings, successful implementation of the Company's M&A program including identifying appropriate targets, consummating transactions and successfully integrating the businesses, successful implementation of the Company's government contracting programs, competition, changes in foreign, political and economic conditions, fluctuating foreign currencies compared to the U.S. dollar, rapid changes in technologies, client preferences, the Company's arrangements with suppliers of voice equipment and technology, government budgetary constraints and various other matters, many of which are beyond the Company's control. Additional risk factors are included in the Company's Form 10-K for the fiscal year ended March 31, 2012. The Company expressly disclaims any obligation or undertaking to release publicly any revisions to forward-looking statements as a result of future events or developments.
Contact: Black Box Corporation
Director – Investor Relations