Exhibit 99.1
News Release
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 | | | | JBT Corporation 70 W. Madison Chicago, IL 60602 |
For Release: Immediate
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Investors & Media: | | Megan Rattigan | | (312) 861-6048 megan.rattigan@jbtc.com |
JBT Corporation Announces Return of President and Chief Executive Officer Tom Giacomini
CHICAGO, September 14, 2020 – JBT Corporation (NYSE: JBT) announced today that Tom Giacomini will return to the Company as President and Chief Executive Officer on September 21, 2020, following a personal leave of absence for medical reasons. Brian Deck, who has been serving as Interim CEO, will continue to serve as Executive Vice President and Chief Financial Officer, and Alan Feldman will continue in his role as Interim Non-Executive Chairman through the end of the year.
“On behalf of the Board of Directors, we welcome Tom back,” said Mr. Feldman. “We would also like to thank Brian for his outstanding leadership of the Company during Tom’s leave.”
“I am eager to get back to work with Brian, the Board and the rest of the JBT team,” said Mr. Giacomini. “I want to express my sincere gratitude to the JBT family for their support and well wishes these past few months, and in particular to Brian for his strong leadership of the Company.”
Mr. Deck said, “We are all very happy to have Tom back and I look forward to working with him and JBT’s management team to continue executing on our strategic priorities.”
JBT Corporation (NYSE: JBT) is a leading global technology solutions provider to high-value segments of the food & beverage industry with focus on proteins, liquid foods and automated system solutions. JBT designs, produces and services sophisticated products and systems for multi-national and regional customers through its FoodTech segment. JBT also sells critical equipment and services to domestic and international air transportation customers through its AeroTech segment. JBT Corporation employs approximately 6,300 people worldwide and operates sales, service, manufacturing and sourcing operations in more than 25 countries. For more information, please visit www.jbtc.com.
Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond JBT’s ability to control. Forward-looking statements include, among others, statements relating to our leadership and our future financial performance and our plans. These risks and uncertainties include, but are not limited to: the duration of the COVID-19 pandemic and the effects of the pandemic on our ability to operate our business and facilities, on our customers, on our supply chains and on the economy generally; fluctuations in our financial results; unanticipated delays or acceleration in our sales cycles; deterioration of economic conditions; disruptions in the political, regulatory, economic and social conditions of the countries in which we conduct business; changes to trade regulation, quotas, duties or tariffs; risks associated with current and future acquisitions; potential effects of the U.K.’s exit from the E.U.; fluctuations in currency exchange rates; difficulty in implementing our business strategies; increases in energy or raw material prices and availability of raw materials; changes in food consumption patterns; impacts of pandemic illnesses, food borne illnesses and diseases to various agricultural products; weather conditions and natural disasters; impact of climate change and environmental protection initiatives; risks