Valmont® Industries, Inc., a global leader in infrastructure solutions and agricultural productivity, has announced a significant leadership change. The company's Board of Directors has appointed Avner M. Applbaum as the new President and Chief Executive Officer, effective immediately. This article explores the details of the announcement, highlighting Mr. Applbaum's qualifications, Valmont's succession planning process, and the company's positive outlook under its new leadership.

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Avner M. Applbaum Takes the Helm

Valmont® Industries, Inc. has chosen Avner M. Applbaum, the current Executive Vice President and Chief Financial Officer, as its new President and CEO. With over 25 years of experience in operational and financial roles, Mr. Applbaum has played a pivotal role in elevating the finance organization of Valmont. He has brought analytical rigor, increased transparency, and spearheaded the company's long-term growth strategy, including efforts to digitize operations. The appointment of Mr. Applbaum reflects Valmont's commitment to transforming into an Industrial Tech company.

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Confidence in Leadership Succession

Mogens C. Bay, Chairman of the Board, expressed great optimism about the appointment, stating that Avner Applbaum's contributions have been instrumental in executing Valmont's growth strategy. Through a comprehensive succession planning process, the Board identified Mr. Applbaum as the ideal candidate to lead Valmont into the future. The Board has full confidence in Mr. Applbaum's ability to take the company to the next level and generate value for all stakeholders.

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A Strong Vision for the Future

Mr. Applbaum, acknowledging the opportunity to lead Valmont, expressed gratitude and excitement for the new chapter. He emphasized the company's momentum in executing its strategic framework, known as Run-Grow-Transform. With a competent team, a competitive market position, and a clear vision, Mr. Applbaum is confident in Valmont's ability to continue delivering returns for stakeholders. This highlights the company's commitment to sustained growth and value creation.

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Acknowledging Past Achievements

Outgoing CEO Stephen G. Kaniewski, who served Valmont since December 2017, expressed his pride in the collective efforts to advance the company. Mr. Kaniewski has built an outstanding executive team and contributed significantly to Valmont's total shareholder return during his tenure. He believes Avner Applbaum is the ideal choice to succeed him, considering their strong partnership and shared vision for Valmont's future. Mr. Kaniewski expressed his commitment to supporting Mr. Applbaum during the transition.

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Recognition and Appreciation

Chairman Mogens C. Bay extended his gratitude to Stephen G. Kaniewski for his exceptional leadership and positive impact on Valmont. He commended Mr. Kaniewski's success in positioning the company for long-term, profitable growth. The Chairman conveyed his best wishes for Mr. Kaniewski's future endeavors.

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Avner M. Applbaum's Extensive Experience

Before joining Valmont, Mr. Applbaum held various senior operational and financial roles in both publicly traded and private equity-backed companies. He brings a wealth of experience from notable organizations such as Double E Company, Ametek, Belden, and TE Connectivity (formerly Tyco Electronics). As EVP and CFO of Valmont, Mr. Applbaum has been responsible for overseeing the company's financial strategy and all financial activities, including IT infrastructure, cybersecurity, and technology innovation.