SHELTON, CT / ACCESSWIRE / January 10, 2023 / The Eastern Company (the "Company" or "Eastern") (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, today announced that its Board of Directors has named Mark Hernandez, currently a member of the Board of Directors, the Company's next Chief Executive Officer, effective January 23, 2023. Mr. Hernandez will succeed August (Gus) Vlak, who has served as CEO since 2016.
James Mitarotonda, Chair of the Board of Directors, said, "We are privileged to have Mark join Eastern as CEO. He brings extensive management, manufacturing and industry experience which will benefit our existing operations and provide valuable insight to our acquisition efforts. He is ideally suited to lead The Eastern Company through its next stage of value creation, and we expect a seamless transition of leadership."
Mr. Hernandez has led Navistar's global manufacturing, supply chain, and logistics since 2018, most recently as Executive Vice President. Prior to Navistar, Mr. Hernandez was an Experienced Practice Expert (Manufacturing and Commercial Vehicles) at McKinsey & Company, focusing on business transformation. From 1994 to 2016, Mr. Hernandez held several roles at Daimler AG and Daimler Trucks North America, where he was a member of Leadership 2020 G16, reporting to the Daimler Board of Management. He graduated cum laude from the United States Naval Academy.
Mr. Mitarotonda added, "The Board greatly appreciates Gus Vlak's leadership during his tenure at the Company. His contributions to the strategic restructuring of the business, and his stewardship through the unprecedented challenges during the past few years, will be hallmarks of his legacy."
Mr. Vlak said, "It has been an enormous privilege to serve as CEO of Eastern. I am proud of everything our team has accomplished during my tenure."
Mr. Hernandez said, "I am honored to be named CEO and appreciate the Board's trust and support. I look forward to working with our outstanding employees, as we focus on organic growth, margin expansion and long-term shareholder value creation."
About The Eastern Company
The Eastern Company manages industrial businesses that design, manufacture and sell unique engineered solutions to markets. Eastern's businesses operate in industries that offer long-term macroeconomic growth opportunities. The Company operates from locations in the U.S., Canada, Mexico, U.K., Taiwan, and China. More information on the Company can be found at www.easterncompany.com.
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The Eastern Company
Peter O'Hara, 203-729-2255
SOURCE: The Eastern Company
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