HILLIARD, Ohio--(BUSINESS WIRE)--
Advanced Drainage Systems, Inc. (NYSE:WMS) (the “Company”), the leading
manufacturer of high performance thermoplastic corrugated pipe and
related products, today announced that it has appointed Carl Nelson to
its board of directors, effective August 4, 2016. Mr. Nelson fills the
vacancy created by the departure of David Horing.
“We are very excited to have Carl join ADS’ Board of Directors,” said
Joe Chlapaty, Chairman and CEO of ADS. “Carl brings significant public
company accounting and financial expertise, as well as over three
decades of experience as a business consultant and strategic advisor to
management teams and boards. We are confident that his contributions to
ADS’ Board will prove invaluable as we continue to outperform the
overall market by driving conversion opportunities from traditional
materials.”
“On behalf of the board and all the ADS employees worldwide, I also want
to thank David Horing for his contributions to the growth and success of
ADS during his tenure on the board. American Securities has been a
strong partner of ours since their initial investment in 2010 and we
look forward to their continued support going forward. ” Chlapaty added.
Mr. Nelson began his career at Arthur Andersen in 1971 and worked there
until 2002, retiring after 31 years of service. During his career he
served as an audit partner and led the audit practice in the Columbus,
OH office. Following the creation of Andersen Consulting, Mr. Nelson led
the effort to establish the consulting practice within Arthur Andersen,
eventually assuming the role of Managing Partner of the Columbus, OH
office and leading the firm’s consulting services for the products
industry in the United States.
Mr. Nelson is an Independent Director for Worthington Industries, Inc.,
a $3 billion diversified metal processing company, where he has been the
audit committee chair since 2004 and a member of the executive
committee. In addition, he serves on the board of Star Leasing, a $115
million ESOP owned company that leases semi-trailers. Mr. Nelson was a
director at Dominion Homes Inc. and served as chair of the audit
committee and a member of the governance committee from 2003 until June
2008, when he chaired a special committee to take the company private.
He has also served in an advisory capacity on the boards of Stonehenge
Capital, Huntington Funds, Schearer’s Foods, BRC Realty and Marketsphere
Consulting.
In addition to his board experience, Mr. Nelson is an independent
business consultant working with companies on strategic planning,
acquisitions, financial matters and executive coaching. He has also
taught in the MBA and executive programs at The Ohio State University
and is a member of the Dean’s Advisory Council for the Fisher College of
Business at Ohio State.
Mr. Nelson received his Bachelor’s degree from The Ohio State University
and his Master of Business Administration from the University of
Wisconsin. He is a CPA and a member of The Ohio Society of Certified
Public Accountants and The American Institute of Certified Public
Accountants.
About ADS
Advanced Drainage Systems (ADS) is the leading manufacturer of high
performance thermoplastic corrugated pipe, providing a comprehensive
suite of water management products and superior drainage solutions for
use in the construction and infrastructure marketplace. Its innovative
products are used across a broad range of end markets and applications,
including non-residential, residential, agriculture and infrastructure
applications. The Company has established a leading position in many of
these end markets by leveraging its national sales and distribution
platform, its overall product breadth and scale and its manufacturing
excellence. Founded in 1966, the Company operates a global network of 61
manufacturing plants and 31 distribution centers. To learn more about
the ADS, please visit the Company’s website at www.ads-pipe.com.
Forward Looking Statements
Certain statements in this press release may be deemed to be
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, including the Company’s statements
regarding the anticipated timing of filing of its Fiscal 2016 Form 10-K.
These statements are not historical facts but rather are based on the
Company’s current expectations, estimates and projections regarding the
Company’s business, operations and other factors relating thereto. Words
such as “may,” “will,” “could,” “would,” “should,” “anticipate,”
“predict,” “potential,” “continue,” “expects,” “intends,” “plans,”
“projects,” “believes,” “estimates,” “confident” and similar expressions
are used to identify these forward-looking statements. Factors that
could cause actual results to differ from those reflected in
forward-looking statements relating to our operations and business
include: fluctuations in the price and availability of resins and other
raw materials and our ability to pass any increased costs of raw
materials on to our customers in a timely manner; volatility in general
business and economic conditions in the markets in which we operate,
including, without limitation, factors relating to availability of
credit, interest rates, fluctuations in capital and business and
consumer confidence; cyclicality and seasonality of the non-residential
and residential construction markets and infrastructure spending; the
risks of increasing competition in our existing and future markets,
including competition from both manufacturers of high performance
thermoplastic corrugated pipe and manufacturers of products using
alternative materials; our ability to continue to convert current demand
for concrete, steel and PVC pipe products into demand for our high
performance thermoplastic corrugated pipe and Allied Products; the
effect of weather or seasonality; the loss of any of our significant
customers; the risks of doing business internationally; the risks of
conducting a portion of our operations through joint ventures; our
ability to expand into new geographic or product markets; our ability to
achieve the acquisition component of our growth strategy; the risk
associated with manufacturing processes; our ability to manage our
assets; the risks associated with our product warranties; our ability to
manage our supply purchasing and customer credit policies; the risks
associated with our self-insured programs; our ability to control labor
costs and to attract, train and retain highly-qualified employees and
key personnel; our ability to protect our intellectual property rights;
changes in laws and regulations, including environmental laws and
regulations; our ability to project product mix; the risks associated
with our current levels of indebtedness; our ability to meet future
capital requirements and fund our liquidity needs; and the other risks
and uncertainties described in the Company’s filings with the SEC. New
risks and uncertainties emerge from time to time and it is not possible
for the Company to predict all risks and uncertainties that could have
an impact on the forward-looking statements contained in this press
release. In light of the significant uncertainties inherent in the
forward-looking information included herein, the inclusion of such
information should not be regarded as a representation by the Company or
any other person that the Company’s expectations, objectives or plans
will be achieved in the timeframe anticipated or at all. Investors are
cautioned not to place undue reliance on the Company’s forward-looking
statements and the Company undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160805005133/en/
Advanced Drainage Systems, Inc.
Michael Higgins, 614-658-0050
Mike.Higgins@ads-pipe.com
Source: Advanced Drainage Systems, Inc.