CITATION CORPORATION
2700 Corporate Drive
Suite 100
Birmingham, AL 35242-2733
(205) 871-5731
Fax: (205) 870-8211
January 29, 2008
Citation Corporation Appoints Douglas Grimm CEO
Novi, Michigan, January 29, 2008 - Citation Corporation announced today that Douglas J. Grimm has been appointed chief executive officer (CEO) and a member of the Board of Directors effective immediately. Grimm replaces Ed Buker who resigned as CEO in mid-2007 to pursue other opportunities. He is located at the companys Novi, Michigan office.
Grimm is responsible for the strategic oversight and direction of the company. Cary Wood will continue to be the Chief Operating Officer of Citation, responsible for day-to-day operations. Doug and Cary will together form the senior leadership of the company.
Dougs extensive leadership experience will be a great asset to Citation as it continues to improve its operations, grow in the markets it serves and expand into new geographic regions, said Dan Lukas, Chairman of the Board. We are excited to have Doug on board and congratulate him on his appointment to CEO. The entire Board is also grateful to Cary Wood for his outstanding leadership during the period when the company had no CEO, and we are delighted that he has agreed to remain with Citation as Chief Operating Officer. Doug and Cary together bring Citation a shared passion and energy for the business as well as a strong complementary set of backgrounds and skills. I look forward to working with Doug and the rest of the Citation management team to continue implementing the companys strategic initiatives and long-term business plan.
The entire management team welcomes Doug to Citation. Were excited to continue the progress that has been made toward achieving our targeted business objectives for our 2008 fiscal year, said Cary Wood. With a strong leadership team in place, we anticipate that Citation will remain a financially stable company poised for long-term growth.
Prior to his appointment as CEO, Grimm was vice president, Global Ford, Materials Management and Powertrain Electronics & Fuel Operations at Visteon Corporation, where he was responsible for Visteons business and customer relationship with Ford Motor Company worldwide. Before joining Visteon, Grimm worked for Metaldyne and Dana Corporation in various executive roles, including sales, operations, quality and purchasing.
A 24-year veteran of the automotive industry, Grimm began his career in 1984 with Chrysler Corporation, where he spent 10 years in management positions of increasing responsibility within the companys procurement and supply office.
I look forward to working with all Citation team members in order to drive value for our customers, Grimm noted. Citation has a strong reputation for quality products with dedicated associates and operations that are strategically located to serve our diverse customer base.
Grimm earned a masters degree in business administration from the University of Detroit and a bachelors degree in economics from Hiram College in Ohio. He also completed the University of Michigan Executive Management Program. He has been affiliated with the Manufacturers Alliance and is a member of the Hiram College Board of Visitors.
Citation is a privately held corporation headquartered in Birmingham, Alabama. Through its subsidiaries, the company designs, develops and manufactures high-quality cast and machined components for market segments including the automotive, heavy truck, construction, agricultural and commercial industries. Citation employs 2,900 associates in Alabama, Texas, Indiana, Michigan, North Carolina and Wisconsin.
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For more information, contact: Jennifer Lee, The Millerschin Group at 248-276-1970
jlee@millerschingroup.com