Directorate Changes

Somero Enterprises Inc.

20 December 2024

 

20 December 2024

Somero Enterprises, Inc.

("Somero" or the "Company")

Directorate Changes

Following a 27-year tenure, Somero® announces that Jack Cooney will retire as Chief Executive Officer and President of Somero Enterprises, Inc. on March 31, 2025. He will remain a consultant to the business for a further year to ensure an orderly handover, and the Board will begin the search for a new CEO immediately.

Jesse Aho, who has worked for Somero for over 16 years and has been the Chief Operating Officer of Global Operations and New Produce Development since May 2024, has been promoted to President effective immediately.

Larry Horsch, Chairman of the Board, will also step down as Chairman following the arrival of the new CEO. The new Chairman will be chosen from the present Board of Directors and Larry will remain on the Board on an interim basis.

With these changes, the Board of Directors believes that the execution of the succession plan, announced on 3 June 2024, will be complete on the appointment of the new CEO.

As reported in the 30 July 2024 trading update, the Board is confident that the results for the full year will be in line with market expectations. The Company will announce its full year results in March 2025.

The Directors of Somero said: "On behalf of the Board, I would like to thank both Jack and Larry for their unwavering commitment to Somero over so many years. Their hard work and dedication have been integral in helping Somero to become the company it is today."

Enquiries:

Somero Enterprises, Inc.	www.somero.com
Jack Cooney, President & CEO	[phone]
Vincenzo LiCausi, CFO
Howard Hohmann, EVP Sales
Cavendish Capital Markets Ltd (NOMAD and Broker)
Matt Goode /Seamus Fricker (Corporate Finance	[phone]
Tim Redfern/Harriet Ward (ECM)
Alma Strategic Communications (Financial PR Advisor)	[e-mail]
David Ison	[phone]
Rebecca Sanders-Hewett
Will Merison

Notes to Editors:

Somero Enterprises provides industry-leading concrete-levelling equipment, training, education and support to customers in over 90 countries. The Company's cutting-edge technology allows its customers to install high-quality horizontal concrete floors faster, flatter and with fewer people. Somero® equipment that incorporates laser-technology and wide-placement methods is used to place and screed the concrete slab in all building types and has been specified for use in a wide range of commercial construction projects for numerous global blue-chip companies.

Somero pioneered the Laser Screed® market in 1986 and has maintained its market-leading position by continuing to focus on bringing new products to market and developing patent-protected proprietary designs. In addition to its products, Somero offers customers unparalleled global service, technical support, training and education, reflecting the Company's emphasis on helping its customers achieve their business and profitability goals, a key differentiator to its peers.

For more information, visit www.somero.com

 

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