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Oshkosh Corporation Announces Presidential Change in Its Commercial Business Segment

08/17/2010

OSHKOSH, Wis., Aug 17, 2010 (BUSINESS WIRE) --

Oshkosh Corporation (NYSE: OSK), a leading manufacturer of access equipment, specialty vehicles and vehicle bodies, today announces changes to its leadership team in the Commercial business segment.

Mike Wuest, Oshkosh Corporation executive vice president and president of the Commercial segment, is retiring. Wuest has been the head of the Commercial segment since 2004. Under Wuest's direction, the Commercial segment has expanded its presence globally and is the industry leader in innovation with Compressed Natural Gas powered refuse and concrete vehicles.

Frank Nerenhausen is being promoted to Oshkosh Corporation executive vice president and president of the Commercial segment, effective August 23. Nerenhausen most recently served as vice president of sales for McNeilus, a company within the Commercial segment. Since joining Oshkosh Corporation in 1986, he has held a number of key executive sales and finance positions.

"During his more than 29-year career at Oshkosh Corporation, Mike Wuest has been an important part of our organization and held essential roles in advancing our purchasing and operations systems," said Charlie Szews, Oshkosh Corporation president and chief operating officer. "His leadership of the Commercial group during the global economic recession has provided a strong foundation for our Company to build upon. Frank Nerenhausen will bring his considerable sales skills and strategic vision to this leadership position and build momentum for capturing future opportunities."

The Commercial segment of the Oshkosh Corporation consists of McNeilus, CON-E-CO, London Machinery and IMT.

About Oshkosh Corporation

Oshkosh Corporation is a leading designer, manufacturer and marketer of a broad range of specialty access equipment, commercial, fire & emergency and military vehicles and vehicle bodies. Oshkosh Corporation manufactures, distributes and services products under the brands of Oshkosh(R), JLG(R), Pierce(R),McNeilus(R), Medtec(R), Jerr-Dan(R), Oshkosh Specialty Vehicles, Frontline(TM), SMIT(TM), CON-E-CO(R), London(R) and IMT(R). Oshkosh products are valued worldwide in businesses where high quality, superior performance, rugged reliability and long-term value are paramount. For more information, visit www.oshkoshcorporation.com.

(R), (TM) All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.

Forward-Looking Statements

This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including,without limitation, statements regarding the Company's future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this presentation, words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "should," "project" or "plan" or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Company's control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the impact on revenues and margins of the projected decrease in M-ATV production rates; the cost of any warranty campaigns related to the Company's products; the cyclical nature of the Company's access equipment, commercial and fire & emergency markets, especially during periods of global economic weakness and tight credit markets; the duration of the ongoing global economic weakness, which could lead to additional impairment charges related to many of the Company's intangible assets and/or a slower recovery in the Company's cyclical businesses than equity market expectations; the expected level and timing of U.S. DoD procurement of products and services and funding thereof; risks related to reductions in government expenditures in light of U.S. defense budget pressures and an uncertain DoD tactical wheeled vehicle strategy; the potential for the U.S. government to competitively bid the Company's Army and Marine Corps contracts; the Company's ability to start production under the FMTV contract at targeted margins; the consequences of financial leverage associated with the JLG acquisition, which could limit the Company's ability to pursue various opportunities; risks related to the collectability of receivables, particularly for those businesses with exposure to construction markets; risks related to production delays as a result of the economy's impact on the Company's suppliers; the potential for commodity costs to rise sharply, particularly in a future economic recovery; risks related to costs and charges as a result of facilities consolidation and alignment; risks associated with international operations and sales, including foreign currency fluctuations and compliance with the Foreign Corrupt Practices Act; risks related to disruptions in the Company's distribution networks; and the potential for increased costs relating to compliance with changes in laws and regulations. Additional information concerning these and other factors is contained in the Company's filings with the Securities and Exchange Commission.The Company disclaims any obligation to update such forward-looking statements. All operating results included in this press release reflect results from continuing operations only. The operating results of Geesink B.V., Geesink Norba Limited and Norba A.B., (collectively, Geesink), which comprised the Company's former European RCV business, and of the Company's former European fire apparatus business, BAI Brescia Antincendi International S.r.l. (BAI), have been reclassified for all periods presented to discontinued operations due to the Company's sale of these businesses in July 2009 and October 2009, respectively.

SOURCE: Oshkosh Corporation

Oshkosh Corporation
Financial:
Patrick Davidson
Vice President of Investor Relations
920.966.5939
or
Media:
John Daggett
Director of Communications
920.233.9247