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Stock Market & Financial Investment News

News Breaks
February 12, 2013
16:17 EDTDWDrew Industries to relocate headquarters, take $3.3M charge
Drew announced the relocation of its corporate headquarters from White Plains, New York to Elkhart County, Indiana, the location of the corporate headquarters of Lippert Components and Kinro, and where more than 80% of all RVs produced in the U.S. are manufactured. Consolidating Drew's corporate functions with its Indiana-based manufacturing operations will be both cost-effective and result in an even greater exchange of ideas and expertise between Drew's management team and executives across the RV and manufactured housing industries, the company said. As a result of Drew's leadership transition and corporate relocation, the company will record a pre-tax charge of approximately $3.3M, including $1.5M in Q4 of 2012, and the balance in the first and second quarters of 2013, related to contractual obligations for severance and the acceleration of equity awards. Upon completion of the transition, the company will save an estimated $2M annually in general and administrative costs.
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April 10, 2015
07:49 EDTDWDrew Industries announces departure of CFO Joseph Giodano
Drew Industries announced that Joseph Giordano, CFO and Treasurer, will be leaving the company to pursue other business opportunities. Giordano will continue in his current role until August 31, 2015, or until a new CFO is in place, and will assist his successor to ensure an orderly transition. Drew Industries has retained the services of executive search firm Korn Ferry to lead the search for Giordano's successor.

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