WD-40 Company Announces Board Changes
~ Appoints Neal Schmale Lead Director and Garry Ridge as Chairman of the Board
SAN DIEGO, Dec. 10, 2019 /PRNewswire/ -- WD-40 Company (NASDAQ:WDFC) announced today that its board of directors appointed Neal Schmale as independent lead director and Garry Ridge as chairman of the board, effective today. Garry Ridge is replacing Linda Lang as chairman following her retirement as a director as of today's 2019 Annual Meeting of Stockholders.
The Company also announced that Trevor Mihalik was elected to the Company's board of directors at the Annual Meeting of Stockholders following his nomination by the board earlier this year. Mr. Mihalik has been appointed to serve as a member of the Corporate Governance and Audit Committees.
"We are very pleased to welcome Trevor to our board," said Garry Ridge, chairman and chief executive officer of WD-40 Company. "His extensive finance and accounting experience and his wide-ranging senior management experience with Fortune 500 companies will offer our board valuable judgment and management perspective."
"Moreover, we are delighted that Neal has agreed to take on the additional responsibilities of lead director. Neal has consistently demonstrated commitment to the highest standards of board leadership and governance practices. Furthermore, I am happy to have him as a mentor as I step into my new role as chairman of the board."
"Finally, I would like to thank Linda for her dedication as board chair for the last three years and to the Company for the last 15 years. She deserves recognition for her commitment to the Company and for her contributions to its sound corporate governance practices," concluded Ridge.
Mr. Mihalik has served as executive vice president and chief financial officer of Sempra Energy since May 2018. He joined Sempra Energy in 2012 as controller and chief accounting officer and has held several key roles including senior vice president, controller and chief accounting officer. Prior to joining Sempra Energy, Mr. Mihalik held roles as senior vice president – finance for Iberdrola Renewables and vice president and chief financial officer for Chevron Natural Gas.
WD-40 Company's board is currently composed of 10 directors.
About WD-40 Company
WD-40 Company is a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world. The Company markets its maintenance products and homecare and cleaning products under the following well-known brands: WD-40®, 3-IN-ONE®, GT85®, X-14®, 2000 Flushes®, Carpet Fresh®, no vac®, Spot Shot®, 1001®, Lava® and Solvol®.
Headquartered in San Diego, WD-40 Company recorded net sales of $423.4 million in fiscal year 2019 and its products are currently available in more than 176 countries and territories worldwide. WD-40 Company is traded on the NASDAQ Global Select market under the ticker symbol "WDFC." For additional information about WD-40 Company please visit https://www.wd40company.com.
SOURCE WD-40 Company
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