Titan Machinery Inc. Announces CFO Transition Plan

About this update from Titan Machinery Inc.

CFO Mark Kalvoda will remain with Company until January 2023 to ensure a smooth transition WEST FARGO, N.D. , April 25, 2022 (GLOBE NEWSWIRE) -- Titan Machinery Inc. (Nasdaq: TITN) (“Titan Machinery” or the “Company”), a leading network of full-service agricultural and construction equipment stores, today announced that Chief Financial Officer, Mark Kalvoda , has provided his notice of resignation effective January 15, 2023 , to pursue other interests. Mr. Kalvoda will remain in his current role as CFO to ensure a smooth and constructive transition to his successor. The Company will initiate a search process to identify a suitable finance executive to replace Mr. Kalvoda . David Meyer , Titan Machinery’s Chairman and Chief Executive Officer, stated, “Mark’s financial leadership over the past 15 years has been invaluable. He has been instrumental in building Titan Machinery’s world-class team and financial reporting infrastructure from which we will benefit for years to come. Mark and I will work closely with the Board to identify a proper successor and manage a smooth transition. I thank Mark for his many years of contributions and wish him all the best in the next chapter of his life.” Mr. Kalvoda commented, “It has been a great privilege to lead the finance organization at Titan Machinery and help guide the business to the record financial results we achieved in fiscal 2022. Although there is never a perfect time for a CFO transition, I am confident that our strong financial position and the solid financial team at Titan will enable a smooth transition. I want to thank David, the executive team, and the many talented team members throughout the Company for their support. I am committed to make this transition as smooth as possible and look forward to following Titan Machinery’s continued success.” About Titan Machinery Inc. Titan Machinery Inc. , founded in 1980 and headquartered in West Fargo, North Dakota , owns and operates a network of full service agricultural and construction equipment dealer locations in North America and Europe . The network consists of US locations in Iowa , Minnesota , Nebraska , North Dakota , South Dakota , Wisconsin and Wyoming and its European stores are located in Bulgaria , Germany , Romania , and Ukraine . The Titan Machinery locations represent one or more of the CNH Industrial Brands, including Case IH, New Holland Agriculture, Case Construction , New Holland Construction , and CNH Industrial Capital . Additional information about Titan Machinery Inc. can be found at www.titanmachinery.com . Investor Relations Contact: ICR, Inc. Jeff Sonnek , [email protected] .Managing Director646-277-1263 Source: Titan Machinery Inc.

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