Douglas Dynamics Announces Appointment of Joher Akolawala

MILWAUKEE, Sept. 26, 2022 (GLOBE NEWSWIRE) — Douglas Dynamics, Inc. (NYSE: PLOW), North America’s leading manufacturer and outfitter of work vehicle attachments and equipment, announced today that its Board of Directors has elected Joher Akolawala to office has as director of the company. The Company also announced that James D. (Jim) Staley has decided to step down from the Board of Directors at the end of his current term of office, which expires at the 2023 AGM. Mr. Staley has served as a director since 2010.

“We are pleased to welcome Joher as a new independent director,” said Jim Janik, Chairman of the Board of Directors. “He has a proven track record as an executive at multinational companies with more than 30 years of global finance and technology experience across a variety of industries. His background in C-suite functions with a focus on finance, information technology, cybersecurity and value realization will prove invaluable to our entire organization for years to come.”

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Janik commented, “On behalf of the board and management team, I would like to express our sincere appreciation to Jim Staley for his dedicated service to our company since prior to our IPO in 2010. We remain extremely grateful for his advice and guidance over the past 13 years and look forward to continuing to benefit from his knowledge until his retirement from our board next spring.”

Joher Akolawala bio and additional information

Mr. Akolawala is currently Executive Vice President and Chief Financial Officer at Pella Corporation, a leading designer and manufacturer of windows and doors for residential and commercial applications, where he holds a wide range of roles including finance, technology, M&A and strategy.

Prior to joining Pella, Mr. Akolawala was Senior Vice President and Chief Financial Officer – International at Walgreens Boots Alliance, a global retail pharmacy group based in London, UK, from 2019-2020

In 2014, Mr. Akolawala joined Mondelez International, a global company focused on snack foods, and held various positions in IT, cybersecurity and finance during his six-year tenure, including senior vice president and global chief information officer, and senior vice president , Global Finance.

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From 1991 to 2014, Mr. Akolawala expanded his career at Kraft Foods Group, now part of global food and beverage company The Kraft Heinz Group, where he held various finance and leadership positions in the US, Europe and Latin America, with a focus on disciplines such as financial planning and analysis, manufacturing, procurement and global supply chain.

Mr. Akolawala received his Bachelor of Business Administration in Accounting from the College of Engineering Pune, India and a Master of Business Administration from the Darla Moore School of Business at the University of South Carolina.

Mr. Akolawala will serve on each of the Audit, Compensation and Nominating and Corporate Governance Committees of the Board and will serve on the class of directors standing for re-election at the 2023 AGM.

About Douglas Dynamics

Home to the industry’s most trusted brands, Douglas Dynamics is North America’s leading manufacturer and outfitter of commercial work truck attachments and equipment. For more than 75 years, the company has been developing innovative products that not only enable people to do their jobs more efficiently and effectively, but also enable companies to increase their profitability. Through its proprietary Douglas Dynamics Management System (DDMS), the company is committed to continuous improvement aimed at producing the highest quality products with industry-leading levels of service and delivery that ultimately enhance shareholder value. Douglas Dynamics’ portfolio of products and services is divided into two segments: First, the Work Truck Attachments segment, which includes commercial snow and ice removal equipment sold under the FISHER®, SNOWEX® and WESTERN® brands. Second, the Work Truck Solutions segment, which includes the customization of market-leading attachments and storage solutions under the HENDERSON® brand and the DEJANA® brand and associated sub-brands.

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CONTACT
Douglas Dynamics, Inc.
Nathan Elwell
847-530-0249
[email protected]