#USA #Alamo Group #Seguin #Jeff Leonard #CEO Retirement

Alamo Group Inc. Announces CEO Jeff Leonard's Retirement Plan

Alamo Group Inc., a leader in the design and manufacture of high-quality equipment, has announced that its President and CEO, Jeff Leonard, intends to retire by mid-2025. This decision comes after more than 13 years of dedicated service, during which Leonard played a pivotal role in the company's growth and operational strength.

The Announcement

On December 20, 2024, Alamo Group's Board of Directors received formal notice of Leonard's retirement plans. In his statement, Leonard expressed gratitude for his time at Alamo Group and confidence in the company's future. He stated, "It has been an honor being part of Alamo Group since 2011. I have watched the Company experience tremendous growth and am confident in its continued success."

Leonard's tenure has been marked by significant achievements, rivaling the industry standards in growth and innovation. His leadership contributed not only to Alamo's expansion but also to its reputation as a financially sound enterprise.

Planning for Succession

The company's Board has recognized the importance of a seamless transition. Rick Parod, the Independent Chair of the Board, acknowledged Leonard's contributions to the Company's journey, highlighting the strategic planning that has been undertaken to ensure that the leadership transition is as smooth as possible. The Board is actively involved in identifying a successor and aims to announce Leonard's replacement in the coming months.

Future Directions for Alamo Group

Alamo Group, founded in 1969, operates over 28 plants globally, employing approximately 4,000 individuals across North America, Europe, Australia, and Brazil. The company specializes in equipment for vegetation management and infrastructure maintenance, including street sweepers, snow removal tools, and excavators. Leonard’s retirement is expected to usher in a new era for the company, one that will continue to build on the foundations laid during his leadership.

The forward-looking statements released in conjunction with this announcement suggest that despite potential market challenges, Alamo Group remains optimistic about future growth and stability.