TITN - Titan Machinery Inc. Announces Leadership Succession to Drive Next Phase of Growth | Benzinga
President and COO Bryan Knutson to Become President and CEO
Chairman and CEO David Meyer to Assume Role of Executive Chairman
WEST FARGO, N.D., Oct. 18, 2023 (GLOBE NEWSWIRE) -- Titan Machinery Inc. (NASDAQ:TITN) (the "Company"), a leading network of full-service agricultural and construction equipment stores, today announced as part of its leadership succession plan, David Meyer, the Company's Founder, Chairman, and Chief Executive Officer, will transition to Executive Chairman effective February 1, 2024, and will also continue to serve as Chairman of the Board. At that time, Bryan Knutson, the Company's President and Chief Operating Officer, will succeed Mr. Meyer as Chief Executive Officer, holding the position of President and Chief Executive Officer, and will become a member of the Company's Board of Directors.
David Meyer co-founded Titan Machinery in 1980 on the principle of best-in-class product support, and as an early pioneer of dealer consolidation, saw the benefits of consolidating dealership resources to leverage scale, equipment and parts inventories, training, and other industry expertise to provide world-class equipment support to all our agricultural and construction customers. As the Company's long-time CEO and largest shareholder, Mr. Meyer has driven the expansion of the Company's footprint from its initial two store locations in 1980 to an international dealership network which now spans 3 continents with nearly 150 locations.
"I am very proud of what our team at Titan Machinery has achieved since my early days in the dealership nearly 50 years ago, and the breadth and depth of our operation is a testament to the talent that we've attracted to the organization," commented Mr. Meyer. "Bryan is a natural leader with a successful track record and has proven his ability to excel across all aspects of our business. As his career has progressed through senior management positions with increased levels of responsibility, Bryan has been an integral member of our executive team and has demonstrated a thorough and insightful approach to strategy and operational execution, while at the same time showing an ability to build lasting relationships that have served our customers, employees, suppliers, and shareholders extremely well. I am extremely confident in Bryan's capabilities and have watched his development over the last 20 plus years as he has excelled in both store and central leadership roles, which makes him uniquely qualified to lead Titan Machinery in our next stage of growth."
In his new ...