Business
Appointment of New CEO
Appointment of New CEO.
About this update from Somero Enterprises, Inc.
[{"type":"text","content":"\n\n27 March 2025\nSomero Enterprises, Inc.\n(\"Somero\" or \"the Company\")\n \nAppointment of New CEO\n \nSomero® is pleased to announce that, following an extensive selection process, Tim Averkamp has been appointed to the Board as Chief Executive Officer effective 1 April 2025.\n \nMr. Averkamp brings 30 years of international experience in industrial manufacturing, construction machinery, and equipment innovation. Most recently, he was Chief Operating Officer at Stoughton Trailers, LLC, one of the largest trailer manufacturers in North America, where he was responsible for leading and driving strategy for the Transport Solutions Business (Dry Van Trailers and Intermodal Chassis).\n \nPrior to this, Mr. Averkamp served for four years as Group President at Astec Industries, Inc. (NASDAQ: ASTE), a global manufacturer of specialized infrastructure equipment. He led both the Construction Machinery Solutions and the Materials Solutions Groups which encompassed road building and paving, forestry and recycling, and aggregate processing equipment produced and sold globally. His team executed key strategies focused on operational and commercial excellence, new product development, geographic expansion and employee development, with a keen focus on serving the needs of the customer and positioning the company for long-term growth.\n \nThis followed 22 years with Deere & Company (NYSE:DE) with various leadership positions primarily within the Construction and Forestry Equipment Division. His roles included President of the Transaxle Manufacturing of America, a Joint Venture business between Deere and Yanmar/Kanzaki, Director of Business Partner Integration over Deere's JV businesses with Hitachi Construction Equipment Company and Bell Equipment, Engineering Manager, Product Marketing Manager, and other technical and commercial positions. \n \nMr. Averkamp has a Bachelor of Science in Mechanical Engineering from the University of Wisconsin-Platteville and a Master of Business Administration from the University of Dubuque, Iowa.\n \nLarry Horsch, Chairman of Somero, commented:\n\"Tim brings a wealth of relevant construction machinery and public markets experience. He has an exceptional track record of driving growth, commercial and operational excellence, and innovation, and his leadership qua...