Accuride Corporation Announces Resignation of Chief Financial Officer

Published in Stocks and Investing on Wednesday, October 12th 2011 at 6:20 GMT by Market Wire
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EVANSVILLE, Ind.--([ BUSINESS WIRE ])--Accuride Corporation (NYSE: ACW), a leading supplier of components to the commercial vehicle industry, today announced that James H. (Jim) Woodward, Jr., Senior Vice President / Finance and Chief Financial Officer, has resigned his position to pursue other interests and opportunities. In order to ensure continuity, Accuride Vice President and Chief Accounting Officer Gregory A. Risch will serve as Interim CFO, effective immediately, while the company conducts a thorough internal and external evaluation process to secure a permanent replacement.

"The Board of Directors and I extend our sincere thanks to Jim for his service to Accuride and wish him success in his future endeavors."

Woodward joined Accuride in March 2009 as Interim Senior Vice President and Chief Financial Officer and was appointed permanent CFO in May 2010.

aJim played an instrumental role in guiding Accuride through the recent economic and industry downturn and the Companya�s subsequent restructuring activities, which helped restore and strengthen the Companya�s balance sheet and position the Company for future growth,a said Accuridea�s President and Chief Executive Officer, Rick Dauch. aThe Board of Directors and I extend our sincere thanks to Jim for his service to Accuride and wish him success in his future endeavors.a

Dauch continued: aWe are firmly committed to building shareholder value through the successful execution of our operational improvement initiatives and strategic plans. With 17 years of service with Accuride, Greg Risch has a deep understanding of our company and will provide our Finance team with stability and leadership while we conduct our search for a permanent CFO.a

Risch has served in a variety capacities in Accuridea�s Finance function since joining the company in 1994, including Chief Accounting Officer, Director of Financial Planning and Reporting, and Assistant Controller. During this interim period, the Companya�s corporate and business unit finance teams will report to him.

About Accuride Corporation

With headquarters in Evansville, Ind., Accuride Corporation is a leading supplier of components to the commercial vehicle industry. The companya�s products include commercial vehicle wheels, wheel-end components and assemblies, truck body and chassis parts, and other commercial vehicle components. The companya�s products are marketed under its brand names, which include Accuride^�, Gunite^�, Imperial^TM and Brillion^TM. Accuridea�s common stock trades on the New York Stock Exchange under the ticker symbol ACW. For more information, visit the Companya�s website at [ http://www.accuridecorp.com ].

Forward-Looking Statements

Statements contained in this news release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding Accuridea�s expectations, hopes, beliefs, and intentions with respect to future results. Such statements are subject to the impact on Accuridea�s business and prospects generally of, among other factors, market demand in the commercial vehicle industry, general economic, business and financing conditions, labor relations, governmental action, competitor pricing activity, expense volatility and other risks detailed from time to time in Accuridea�s Securities and Exchange Commission filings, including those described in Item 1A of Accuridea�s Annual Report on Form 10-K for the fiscal year ended December 31, 2010. Any forward-looking statement reflects only Accuridea�s belief at the time the statement is made. Although Accuride believes that the expectations reflected in these forward-looking statements are reasonable, it cannot guarantee its future results, levels of activity, performance or achievements. Except as required by law, Accuride undertakes no obligation to update any forward-looking statements to reflect events or developments after the date of this news release.

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Accuride Corporation Announces Resignation of Chief Financial Officer