The Manitowoc Company Announces the Appointment of Timothy J. Fenton and Thomas D. Davis to the Board of Directors of Manitowoc Foodservice, Inc.
By Business Wire News
The Manitowoc Company, Inc. (NYSE: MTW) announced today that it has appointed Timothy J. Fenton and Thomas D. Davis to the Board of Directors of its wholly-owned subsidiary Manitowoc Foodservice, Inc., which is planned to be spun-off from The Manitowoc Company, Inc. in the first quarter of 2016.
“We are excited to welcome Messrs. Davis and Fenton to Manitowoc Foodservice’s Board of Directors. They bring more than 70 years of combined industry expertise, as well as a unique perspective to the team,” commented Ken Krueger, interim chairman, president and chief executive officer of The Manitowoc Company, Inc.
“Tim Fenton’s deep understanding of such a critical customer segment, quick-serve restaurants, for the business, coupled with his emerging market exposure will prove invaluable as we further build our global footprint. In addition, Tom Davis’ operating and financial capabilities, deep knowledge of food processing and channel distribution, and track record of driving growth and creating shareholder value will support the execution of our strategic priorities,” added Hubertus Muehlhaeuser, chief executive officer, Manitowoc Foodservice, Inc.
Mr. Fenton is a 41-year veteran of McDonald’s Corporation, the leading global quick-serve restaurant company, finishing his tenure as chief operating officer in 2014. Prior to that, he had held roles including President, McDonald’s Asia, Pacific, Middle East and Africa; President, East Division; and Vice President and Managing Director of the Middle East Development Company; among others. During the last 10 years of his career with McDonald’s, he contributed to substantial revenue growth and profitability expansion. As chief operating officer of McDonald’s Corporation, Mr. Fenton was responsible for global supply chain, franchising and development.
Mr. Davis has been president and chief executive officer of Viskase Companies, Inc., a leading supplier of casing solutions, since 2007 and chairman of the board since 2011. While at Viskase, he has been successfully driving a strategy to maintain a competitive position among its customers where consolidation has been ongoing. Prior to that, Mr. Davis was chief executive officer of Specialty Foods Group, Inc. for seven years. During his tenure at Specialty Foods Group, he led the company in its initial public offering and led the company’s growth through a number of acquisitions and exclusive agreements to produce and distribute meat products through various direct and indirect channels. Earlier in his career, he held various executive roles at a number of major meat packing companies, including Smithfield Foods and John Morrell & Company.
About The Manitowoc Company, Inc.
Founded in 1902, The Manitowoc Company, Inc. is a multi-industry, capital goods manufacturer with 92 manufacturing, distribution, and service facilities in 25 countries. The company is recognized globally as one of the premier innovators and providers of crawler cranes, tower cranes, and mobile cranes for the heavy construction industry. Manitowoc is also one of the world’s leading innovators and manufacturers of commercial foodservice equipment, which includes 24 market-leading brands of hot- and cold-focused equipment. In addition, both segments are complemented by a slate of industry-leading product support services. In 2014, Manitowoc’s revenues totaled $3.9 billion, with approximately half of these revenues generated outside of the United States.
The Manitowoc Company, Inc.
Steven C. Khail, 920-652-1713
Director of Investor Relations & Corporate Communications