Allison Transmission Elects D. Scott Barbour to Board of Directors
INDIANAPOLIS – May 5, 2022 – Allison Transmission, a leading designer and manufacturer of conventional and electrified vehicle propulsion solutions and the largest global manufacturer of medium- and heavy-duty fully automatic transmissions for commercial and defense vehicles, today announced that D. Scott Barbour has joined its Board of Directors following a successful election at the 2022 annual meeting of stockholders.
Barbour serves as the Chief Executive Officer and President of Advanced Drainage Systems, Inc. (ADS), a manufacturer of water management solutions in the stormwater and on-site septic wastewater industries, a position he has held since September 2017. Under his leadership, ADS completed a transformative acquisition in an adjacent market and repositioned itself as a pureplay water management company. Barbour refocused ADS’ resources and capital on operational improvements to drive customer satisfaction and continuous improvement while also building out the marketing, product development and material science capabilities of the company. During his tenure, Barbour has led the establishment of the ADS Foundation, giving the company an avenue to provide aid to causes that align with its Environmental, Social and Governance prioritieswater, recycling and community.
“We are pleased to welcome Scott as the newest member of Allison’s esteemed Board of Directors,” said David S. Graziosi, Chairman & Chief Executive Officer, Allison Transmission. “As the commercial vehicle industry evolves, we remain committed to manufacturing leading propulsion solutions that Improve the Way the World Works. Scott’s strong leadership along with his extensive experience in manufacturing will make him a valuable asset to Allison and our Board.”
Prior to joining ADS, Barbour held several leadership positions at Emerson Electric Co., a global technology and engineering company that provides solutions for customers in industrial, residential and commercial markets. He earned a Bachelor of Science in Mechanical Engineering from Southern Methodist University and a Master of Business Administration from the Owen Graduate School of Management, Vanderbilt University.
The election of Barbour increases the size of Allison’s Board to ten members. He will serve on the Board’s Audit and Compensation Committees. His current term will expire at the 2023 annual meeting of stockholders.
May 05, 2022
Allison Transmission (NYSE: ALSN) is a leading designer and manufacturer of vehicle propulsion solutions for commercial and defense vehicles, the largest global manufacturer of medium- and heavy-duty fully automatic transmissions, and a leader in electrified propulsion systems that Improve the Way the World Works. Allison products are used in a wide variety of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (school, transit and coach), motorhomes, off-highway vehicles and equipment (energy, mining and construction applications) and defense vehicles (tactical wheeled and tracked). Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA. With a presence in more than 150 countries, Allison has regional headquarters in the Netherlands, China and Brazil, manufacturing facilities in the USA, Hungary and India, as well as global engineering resources, including electrification engineering centers in Indianapolis, Indiana, Auburn Hills, Michigan and London in the United Kingdom. Allison also has more than 1,400 independent distributor and dealer locations worldwide. For more information, visit allisontransmission.com.
This press release contains forward-looking statements. All statements other than statements of historical fact contained in this press release are forward-looking statements, including all statements regarding future financial results. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plans," "project," "anticipate," "believe," "estimate," "predict," "intend," "forecast," "could," "potential," "continue" or the negative of these terms or other similar terms or phrases. Forward-looking statements are not guarantees of future performance and involve known and unknown risks. Factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made include, but are not limited to: risks related to our substantial indebtedness; uncertainty in the global regulatory and business environments in which we operate; our participation in markets that are competitive; the highly cyclical industries in which certain of our end users operate; the failure of markets outside North America to increase adoption of fully-automatic transmissions; the concentration of our net sales in our top five customers and the loss of any one of these; future reductions or changes in government subsidies for hybrid vehicles and other external factors impacting demand; U.S. defense spending; general economic and industry conditions; the discovery of defects in our products, resulting in delays in new model launches, recall campaigns and/or increased warranty costs and reduction in future sales or damage to our brand and reputation; our ability to prepare for, respond to and successfully achieve our objectives relating to technological and market developments and changing customer needs; risks associated with our international operations; labor strikes, work stoppages or similar labor disputes, which could significantly disrupt our operations or those of our principal customers; our intention to pay dividends and repurchase shares of our common stock; and other risks and uncertainties associated with our business described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. All information is as of the date of this press release, and we undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in expectations.
SOURCE Allison Transmission Holdings Inc.