There is a new CEO for NN and the new appointee is Richard Holder to be effective on June 3, 2013. Holder is replacing Roderick Baty, who is retiring from the office. Aside from the position of CEO, Holder would also assume the board seat vacated by Baty and this position would be held until 2015.
The new CEO is the president of electrical components at the electrical sector division of Eaton. Holder previously held positions as executive vice president for business systems as well as vice president and general manager for power distribution and assemblies division. Holder also worked in various executive positions in US Airways and AlliedSignal.
NN Inc has three operating units, namely the Metal Bearing Components Unit, the Plastic and Rubber Components Unit and the Precision Metal Components Unit.
According to NN Director Michael E. Werner, "Following a comprehensive search, we are pleased to name Rich Holder as NN's new President and Chief Executive Officer. Rich brings a proven record of leadership, successful team building and relevant experience in both organic and acquisitive growth that will prove invaluable in guiding NN in the future and ensuring the continuation of our legacy of growth and success."
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