Douglas Dynamics Inc. has hired Jason Industries Inc. chief financial officer Sarah Lauber to fill the same role at the Milwaukee-based vehicle equipment maker.
The company also announced Robert McCormick will become chief operating officer and assume day-to-day responsibility for both of the company’s reporting segments. McCormick had been the company’s CFO since September 2004.
“As our company continues to expand in size and scope, we are expanding our leadership team accordingly,” said Jim Janik, chairman, president and chief executive officer of Douglas Dynamics. “Bob has been instrumental in orchestrating our growth and acquisition strategies in recent years and has been effectively operating as a part-time COO for some time.
Douglas Dynamics has seen its revenue grow from $140 million in 2012 to $416.3 million in 2016, and net income has gone from $6 million to $39 million during the same period. Some of the company’s acquisitions over that period have included Iowa-based Henderson Products and New York-based Dejana Truck and Utility Equipment.
Lauber comes to Douglas Dynamics after more than two years as CFO at Milwaukee-based Jason Industries, where she was also named senior vice president in January 2016. Jason announced earlier this month that Lauber would be leaving on Aug. 25.
“Douglas Dynamics has a created a great team and collaborative culture, and the business continues to grow, creating tremendous opportunities,” Lauber said. “I look forward to helping the company achieve its considerable potential for all of our stakeholders in the coming years.”
Janik said Lauber’s credentials, which also include time at Regal-Beloit Corp. and A.O. Smith Corp., make her “an ideal fit.”
“We have every confidence that Sarah will continue to succeed and thrive leading our finance team. With this addition, we believe that we have the right team in place to execute our strategy going forward,” Janik said.
Lauber will receive a base salary of $360,000, plus eligibility for annual performance bonuses and long-term equity awards. McCormick’s base salary will increase to $450,000, up from $350,432 in 2016.
