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Wednesday, October 28, 2009

Whitmore Manufacturing Company names new president & CEO

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The board of directors of The Whitmore Manufacturing Company appointed Jeff Peterson, a director of the company, president and Chief Executive Officer effective November 30, 2009. Peterson is Vice President of Capital Southwest Corporation, the principal shareholder of the company, and has closely followed Whitmore for more than eight years. He has gained a breadth of experience, including serving as a director of 14 companies, overseeing the acquisition or direct investments of more than 20 companies and working with rapidly growing businesses. Additionally, he serves in a variety of operational capacities at Capital Southwest and on the board of several industry trade groups, including the National Association of Small Business Investment Companies.

Peterson replaces Ray Schwertner, who will become vice president, operations at Capital Southwest effective November 30, 2009.

Gary Martin, Chairman and CEO of Capital Southwest Corporation, said "I have worked closely with Jeff in a variety of capacities for over eight years and I know of his outstanding capabilities. His strategic thinking abilities, business development experience and determination will position Whitmore for continued growth for many years to come. Additionally, Jeff understands the importance of listening to the customer and being responsive to their needs, which will continue to build upon Whitmore's differentiated product lines. I am also excited to be reunited with Ray at Capital Southwest, and look forward to him using his over 19 years of experience with the firm to enhance our operations."

Peterson also has gained experience as both an investment banker, advising clients on capital raising and merger and acquisition activities, and as a commercial banker, assisting corporate clients with debt financing needs.  He received a Master of Business Administration with distinction from Cornell University and a Bachelor of Business Administration from the University of Texas at Austin.

The Whitmore Group, consisting of The Whitmore Manufacturing Company, KATS Coatings®, Horizon Lubricants and Air Sentry®, is a leader in creating component protection technology through the manufacturing of specialized lubricants, coatings, sealants, and contamination control breathers with broad product application for a variety of industries on a global basis.