News
Allient Appoints James A. Michaud as Chief Financial Officer
Experienced finance leader brings over 25 years of experience with public and private multinational companies
BUFFALO, NY May 22, 2024–(BUSINESS WIRE)–Allient Inc. (Nasdaq: ALNT) (“Allient” or the “Company”), a global designer and manufacturer of precision and specialty motion, controls and power products and solutions for specific industries and applications, announced the appointment of James A. Michaud as Chief Financial Officer, effective June 3, 2024. Mr. Michaud will succeed Michael R. Leach, who previously announced his retirement from Allient.
Dick Warzala, President and CEO, commented: “We are very excited to add Jim to the Allient team as he is a highly talented financial leader with extensive experience in public and private multinational companies, positioning him to hit the ground running. With With a deep background in business operations and strategy, Jim has successfully led business transformations, optimization projects and the establishment of finance functions that have consistently driven better performance.
“His experience in global business shared services, mergers and acquisitions, risk management, financial planning and debt financing will be invaluable as we advance our Simplify to accelerate NOW strategy and work to accelerate the achievement of our goal of generating US$1 billion in revenue with expanded margins. Additionally, his experience in corporate governance, auditing, mentoring and team development, and investor relations make him an ideal choice for our organization.”
Mr. Michaud has served as Chief Financial Officer and senior corporate leader at several large public and private companies. He joins Allient from Elior North America, where he served as senior vice president and chief financial officer since 2020. Elior North America is a $1.5 billion subsidiary of Elior Group SA (ELIOR.PA), a global company food and support services contractor. Prior to that, he was vice president of global business services and chief accounting officer at Delaware North, a privately held global hospitality company. Previously, he also held senior finance roles at Armored Autogroup, Inc., Warnaco Group, Inc. and Honeywell International, Inc. He began his career in public accounting, including serving as senior manager at Ernst & Young, LLP. Mr. Michaud, a Certified Public Accountant, earned his Bachelor of Science in Accounting from Bentley University.
“This is an exciting time for Allient and I look forward to building on the momentum the company has gained and ensuring we are well prepared with our business initiatives to scale effectively in the coming years,” said Mr. Michaud.
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About Allient Inc.
Allient (Nasdaq: ALNT) is a global engineering and manufacturing company developing solutions to power the future of market-moving industries, including medicine, life sciences, aerospace and defense, industrial automation, robotics, semiconductors, transportation, agriculture, construction and facilities infrastructure. A family of globally responsible companies, Allient takes a single-team approach to “Connect What Matters” and delivers the most robust, reliable, high-value products and systems utilizing its leading technologies and platforms for motion, controls and energy.
Headquartered in Buffalo, NY, Allient employs more than 2,500 employees worldwide.
To learn more, visit www.alient.com.
Safe Harbor Declaration
Statements in this press release relating to future plans, events or performance are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements. Examples of forward-looking statements include, but are not limited to, statements the Company makes regarding expected operating results, anticipated levels of capital expenditures, the Company’s belief that it has sufficient liquidity to fund its business operations, and expectations regarding the conversion of outstanding in sales. Forward-looking statements are neither historical facts nor guarantees of future performance. Rather, they are based solely on the Company’s current beliefs, expectations and assumptions regarding the future of the Company’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are beyond the Company’s control. The Company’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any such forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in forward-looking statements include, but are not limited to, general economic and business conditions, conditions affecting the industries served by the Company and its subsidiaries, conditions affecting the performance of Company’s customers and suppliers, the responses of competitors to the Company’s products and services, the general market acceptance of such products and services, the pace of bookings versus shipments, the ability to expand into new markets and geographic regions, the success in acquisition of new businesses, the impact of changes in income tax rates or policies, business activity and demand in our business and our customers’ businesses, global supply chains, the prices of our securities and the achievement of our strategic objectives, the ability to attract and retain qualified personnel, the ability to successfully integrate an acquired business into our business model without substantial costs, delays or problems and other factors disclosed in the Company’s periodic reports filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. New risks and uncertainties emerge over time and it is not possible for us to predict the occurrence of these matters or the way in which they may affect us. The Company has no obligation or intention to publicly release any revisions to any forward-looking statements, whether as a result of new information, future events or otherwise.
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Contacts
Investor:
Deborah K. Pawlowski / Craig P. Mychajluk
Kei Consultants LLC
716-843-3908 / 716-843-3832
dpawlowski@keiadvisors.com / cmychajluk@keiadvisors.com