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Linamar Corporation Provides Commentary on External Market Conditions; Board of Directors Names Linda Hasenfratz as Executive Chair, Jim Jarrell as Director
Linamar Corporation Provides Commentary on External Market Conditions; Board of Directors...
About this update from Linamar Corporation
[{"type":"text","content":"\n \n \n \n Linamar Corporation Provides Commentary on External Market Conditions; Board of Directors Names Linda Hasenfratz as Executive Chair, Jim Jarrell as Director\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n GUELPH, ON\n \n ,\n \n Jan. 18, 2022\n \n /CNW/ - Linamar Corporation (TSX: LNR) today released insights regarding the market activity observed during Q4 2021, as well as commented on other recent industry developments.  The comments provide updates on the latest available industry conditions in the key Access, Agriculture and Automotive markets in which it operates.\n \n \n \n \n \n \n \n \n \n A presentation deck highlighting the details is available and has been posted to Linamar's website today at\n \n www.linamar.com/investors\n \n under the section titled Reports, Presentations and Public Filings, or directly through the following link\n \n https://www.linamar.com/wp-content/uploads/2022/01/Q4-2021-Mid-Quarter-Market-Update.pdf\n \n .\n \n \n In summary, markets are largely in line with what was expected at the Q3 2021 release, but supply chain and labour availability constraints have further deteriorated, impacting both revenue and margins materially negatively, most notably in the industrial segment.\n \n \n In conjunction with the market update, following the recent passing of\n \n Frank Hasenfratz\n \n , Founder and Executive Chair of Linamar Corporation, the Board of Directors of Linamar Corporation wish to announce that\n \n Linda Hasenfratz\n \n , Chief Executive Officer of Linamar, has been elected Executive Chair of the Board of Directors. Linda will assume the title and responsibilities of Executive Chair in addition to her role as CEO. Additionally,\n \n Jim Jarrell\n \n , President and Chief Operating Officer of Linamar, has been appointed as a Director of the Corporation, until an election of directors can be held at the 2022 Annual General Shareholders' Meeting. These appointments are effective immediately.\n \n \n When making these announcements,\n \n Terry Reidel\n \n , Chair of the Huma...