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WD-40 Company Announces Board Changes

12/14/16

SAN DIEGO, Dec. 14, 2016 /PRNewswire/ -- WD-40 Company (NASDAQ:WDFC) announced today that Linda A. Lang has been appointed to serve as independent chair of the board, succeeding Neal E. Schmale.  Mr. Schmale will remain on the board and will continue to serve on several of its committees.   

Ms. Lang was originally elected to WD-40 Company's board of directors in 2004. Previously, she served as chairman of the board and chief executive officer of Jack in the Box, Inc. from 2005 until her retirement in 2014.

Furthermore, the Company announced that Eric P. Etchart was elected at its 2016 Annual Meeting of Stockholders to the Company's board of directors following nomination by the board earlier this year.  Mr. Etchart has been appointed to serve as a member of the Audit Committee and the Finance Committee.   

"On behalf of the Board I would like to thank Neal for his dedication to the Company as board chair for the last 12 years," said Garry O. Ridge, president and chief executive officer of WD-40 Company.  "He deserves recognition for what he has accomplished in the role, and we are pleased that Linda has agreed to take on this additional responsibility and to carry forward Neal's commitment to the Company and its sound corporate governance practices," continued Ridge.  

"Moreover we are pleased to be able to welcome Eric to our board today.  His breadth of international finance, marketing and management experience will provide important perspective to the Board. He has demonstrated commitment to the highest standards of board leadership which will strengthen the Board's commitment to best-in-class governance."

Mr. Etchart most recently served as senior vice president of The Manitowoc Company, Inc. from 2007 until his retirement in January 2016. Prior to that he served as senior vice president, business development, from 2015 to 2016 and as president and general manager of the Manitowoc Crane Group from 2007 to 2015.  From 1983 to 2007, Mr. Etchart held various sales, marketing and management positions at subsidiaries and predecessor companies of The Manitowoc Company, Inc.  Mr. Etchart is a French national, having held management positions in China, Singapore, Italy, France and the United States.  He received his Master in Economics from the University of Bordeaux and his Master in Business Administration from HEC Paris. Mr. Etchart is a National Association of Corporate Directors (NACD) Board leadership fellow.

"Finally, I'd like to also acknowledge two board members who are completing their terms of service today. Giles Bateman and Richard Collato did not stand for reelection at yesterday's annual meeting.  I want to extend my thanks on behalf of the entire board of directors for their many contributions to the Company's success over the last 13 years," concluded Ridge.  

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 $381 million in fiscal year 2016 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 http://www.wd40company.com.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/wd-40-company-announces-board-changes-300377953.html

SOURCE WD-40 Company

Media and Investor Contact: Wendy Kelley, investorrelations@wd40.com, 619-275-9304

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