Teske to succeed Shiely as CEO of Briggs
John Shiely, chief executive officer of Briggs & Stratton Corp. will retire on Dec. 31.
The Wauwatosa-based company expects that its board of directors will appoint Todd Teske, currently president and chief operating officer, as president and CEO, effective Jan. 1, 2010.
Provided Shiely is re-elected as a director at the 2009 annual meeting of shareholders currently scheduled for Oct. 21, Shiely intends to continue to serve as a director and chairman of the board until the 2010 annual meeting of shareholders. The company also expects that the board will elect Teske as a director prior to Shiely’s retirement.
Teske, 44, has served as president and COO since Sept. 1, 2008. Teske also is president of Briggs & Stratton Power Products Group LLC.
Shiely has held the top positions at Briggs since 2003.
Briggs is the world’s largest producer of gasoline engines for outdoor power equipment.
Michael Hofbauer has been elected vice president, chief financial officer and treasurer of Pewaukee-based American Transmission Co. by the company’s board of directors.
Hofbauer joined ATC in 2001. In January 2007, he was promoted to corporate controller, overseeing all finance department activities including accounting, tax, financial reporting, budgeting, treasury and risk management. Hofbauer was named interim CFO in June 2009.
Prior to joining ATC, Hofbauer held various senior-level positions with Arthur Andersen. He also managed the corporate accounting function for Midway Airlines.