Armstrong, Iowa — Art's Way Manufacturing Co. (Nasdaq: ARTW), a diversified manufacturer and distributor of equipment serving agricultural, research and steel cutting needs, announced an anticipated chief executive officer transition from Carrie Gunnerson to David King, to occur in the third quarter of 2020.
Gunnerson, the company's chief executive officer since 2007, has expressed her desire to transition out of her role by mid-2020, pending the company's identification of a qualified successor. Following an extensive search by the Board of Directors, on March 5, 2020, the company entered into an offer letter with David King, pursuant to which King is expected to assume the role of chief executive officer upon the anticipated resignation of Gunnerson in the third quarter of fiscal year 2020. King's anticipated start date is March 23, 2020, and he will serve in an interim role prior to assuming the role of CEO.
King has over 25 years in the agricultural industry. He is currently the executive vice president of sales and marketing at VES Environmental Solutions LLC, a designer and manufacturer of energy efficient agricultural ventilation and lighting systems, a position he has held since November 2019. He was previously vice president of sales and marketing at Salford Group from June 2013 to November 2019, and he held roles in operations, marketing and international business development at Ag Leader Technology from 1996 to June 2013. King holds a B.S. in Business Administration from Iowa State University and an MBA from Drake University.
Chairman of the Art's Way Board of Directors, Marc H. McConnell said, "We would like to express our most sincere gratitude and appreciation for Carrie and her dedication and loyalty to Art's Way since joining the team in 2004. She worked her way from senior accountant to CFO and eventually to CEO where she led the company through times of growth, acquisitions and development as an organization. We cannot thank Carrie enough for what she brought to Art's Way and the times that she put the needs of the company ahead of her own to ensure that the company would be a long term success.
“We are pleased to announce that David King will be assuming the role of chief executive officer upon Carrie's resignation in the third quarter of 2020. David brings an extensive skill set and wealth of leadership experience in our industry that we anticipate will provide for growth and long-term success for Art's Way."