Research News and Market Data on NNBR
30 Year Veteran Brings Decades of Manufacturing, Operations, and Business Transformation Expertise to NN, Inc.
CHARLOTTE, N.C., April 10, 2024 (GLOBE NEWSWIRE) — NN, Inc. (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, today announced the appointment of Jeff Tritapoe as Vice President of Global Operations, effective April 10, 2024. In this newly created position, Jeff will be a key leader responsible for driving the company’s operations team of approximately 3,000 employees in six countries and helping generate significant business transformation, margin enhancement and operational excellence. Mr. Tritapoe brings over 30 years of experience in manufacturing, operations and business transformation. He will report directly to Tim French, NN’s Chief Operating Officer.
“Jeff is a proven operational leader with decades of experience in the industrial, vehicle and medical manufacturing markets. His global experience driving productivity, optimizing footprints, launching new programs, and improving quality in highly technical manufacturing environments will add a key element to the NN team and accelerate our ongoing transformation plan – both cost and growth,” said Mr. French. “Harold Bevis and I have both worked with Jeff in similar situations in the past and are excited to bring him to the NN team. Jeff is an expert in driving operational excellence as well as JIT and Pull manufacturing systems, and medical and automotive PPAP processes. He is a footprint expert and has closed high-cost plants and built plants in low-cost countries including Mexico and China. Jeff will be instrumental in NN’s future success.”
“I am excited to be joining the NN team and getting back together with Harold and Tim. We all share the same commitment to speed and accountability,” said Mr. Tritapoe. “NN possesses tremendous potential. Their precision engineering experience and global manufacturing footprint are perfectly suited to grow above market rates in their chosen markets. I am looking forward to adding my experience to the NN team and help continue the transformation already underway.”
Mr. Tritapoe, a native of South Carolina, is a results-driven executive with over 30 years of experience in streamlining operations, optimizing productivity and driving business growth. He brings proven expertise in implementing strategic initiatives, managing cross-functional teams and ensuring operational excellence, and a commitment to delivering exceptional results through effective leadership and collaboration. Mr. Tritapoe’s focused expertise includes oversight of all aspects of manufacturing operations, including production planning, quality control, supply chain management, and cost/capacity/operational optimization.
Jeff has served as Chief Operating Officer and SVP Global Operations, as well as other senior operational leadership positions for both public and private companies. He most recently worked at Commercial Vehicle Group. He holds a BS in Mechanical Engineering from the University of Tennessee and an MS in Industrial Engineering from the University of Tennessee Space Institute. He has extensive experience in lean manufacturing, Kaizen and 6 Sigma processes having attained Black Belt and DFSS Certifications.
About NN, Inc.
NN, Inc., a global diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has facilities in North America, Europe, South America, and Asia. For more information about the company and its products, please visit www.nninc.com.
FORWARD-LOOKING STATEMENTS
Except for specific historical information, many of the matters discussed in this press release may express or imply projections of revenues or expenditures, statements of plans and objectives or future operations or statements of future economic performance. These statements may discuss goals, intentions and expectations as to future trends, plans, events, results of operations or financial condition, or state other information relating to NN, Inc. based on current beliefs of management as well as assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “possible,” “potential,” “predict,” “project” or other similar words, phrases or expressions. Forward-looking statements involve a number of risks and uncertainties that are outside of management’s control and that may cause actual results to be materially different from such forward-looking statements. Such factors include, among others, general economic conditions and economic conditions in the industrial sector; the impacts of pandemics, epidemics, disease outbreaks and other public health crises, including the COVID-19 pandemic, on our financial condition, business operations and liquidity; competitive influences; risks that current customers will commence or increase captive production; risks of capacity underutilization; quality issues; material changes in the costs and availability of raw materials; economic, social, political and geopolitical instability, currency fluctuation, and other risks of doing business outside of the United States; inflationary pressures and changes in the cost or availability of materials, supply chain shortages and disruptions, and the availability of labor; our dependence on certain major customers, some of whom are not parties to long-term agreements (and/or are terminable on short notice); the impact of acquisitions and divestitures; our ability to hire or retain key personnel; the level of our indebtedness; the restrictions contained in our debt agreements; our ability to obtain financing at favorable rates, if at all, and to refinance existing debt as it matures; unanticipated difficulties integrating acquisitions; new laws and governmental regulations; the impact of climate change on our operations; and cyber liability or potential liability for breaches of our or our service providers’ information technology systems or business operations disruptions. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s filings made with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. The Company qualifies all forward-looking statements by these cautionary statements.
Contact:
Tim Peters
Media Contact
+1 312 445 2874
tim.peters@alphaadvgroup.com
Joseph Caminiti, CFA
Investor Relations Contact
joseph.caminiti@alpha-ir.com
+1 312 445 2864
Source: NN, Inc.