CHARLOTTE, N.C., June 28, 2017 (GLOBE NEWSWIRE) -- SPX Corporation (NYSE:SPXC) today announced Robert B. Toth as a new independent member of the Board of Directors of SPX Corporation, effective July 1, 2017. In addition to Board membership, Mr. Toth has been appointed to serve on the Board’s Compensation Committee.
“We’re very pleased to welcome another highly-talented board member with a complementary skill-set in areas fundamental to SPX’s success,” said Gene Lowe, President and CEO of SPX Corporation. “Bob has an outstanding track record of delivering value-creation and growth in industrial companies and extensive experience in acquisitions, integrations, strategy and operational excellence. We look forward to Bob’s contributions as an important member of our team.”
Mr. Toth currently serves as a Managing Director at CCMP Capital Advisors, LLC (a private equity investment firm) where he focuses on industrial technology companies. He is also a director at PQ Corporation and Materion Corporation. His experience includes more than 30 years in leadership roles at global industrial and manufacturing companies. Prior to joining CCMP, Mr. Toth served as the Chairman, Chief Executive Officer and President of Polypore International, Inc., where he optimized the business portfolio and positioned the company for accelerated growth that resulted in a substantial increase in enterprise value. Prior to Polypore, Mr. Toth served as President, Chief Executive Officer and Board Director of CP Kelco ApS, where he led the business through a comprehensive turnaround and successful sale. Mr. Toth also spent 19 years at Monsanto Company and its spin-off, Solutia Inc., where he held a variety of managerial and executive roles.
About SPX Corporation: SPX Corporation is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC, detection and measurement, and engineered solutions markets. Based in Charlotte, North Carolina, SPX Corporation had approximately $1.5 billion in annual revenue in 2016 and more than 5,000 employees in about 15 countries. SPX Corporation is listed on the New York Stock Exchange under the ticker symbol “SPXC.” For more information, please visit www.spx.com.
Certain statements in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. Please read these results in conjunction with the company’s documents filed with the Securities and Exchange Commission, including the company’s annual reports on Form 10-K, and any amendments thereto, and quarterly reports on Form 10-Q. These filings identify important risk factors and other uncertainties that could cause actual results to differ from those contained in the forward-looking statements. Actual results may differ materially from these statements. The words “believe”, “expect,” “anticipate,” “project” and similar expressions identify forward-looking statements. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. In addition, estimates of future operating results are based on the company’s current complement of businesses, which is subject to change.
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