JBT Corporation announces that Chairman, President and Chief Executive Officer, Tom Giacomini, will take a personal leave of absence for medical reasons, effective immediately. The JBT Board of Directors has appointed Brian Deck, Executive Vice President and Chief Financial Officer, as Interim Chief Executive Officer. Mr. Deck will continue in his role as CFO. In addition, Alan Feldman, a member of the JBT Board, has been named Interim Non-Executive Chairman. Mr. Giacomini's medical leave is unrelated to COVID-19.
"On behalf of the Board and management team, we support Tom and together agreed that it is in the best interest of all JBT stakeholders that he focus full-time right now on his health," said Mr. Feldman. "The Board and I have complete confidence in Brian and the rest of the JBT executive leadership team to manage the business and continue executing on our strategic priorities. I look forward to working with Brian in my new interim role as we continue to focus on ensuring the health and safety of our employees during the COVID-19 pandemic, while delivering JBT's technology and services to our customers."
"It has been a privilege to be a part of the JBT team since I joined in 2014," said Mr. Deck. "I am grateful for the support of the Board, the executive leadership team and our entire organization as we focus on moving the business forward. JBT continues to prioritize an unrelenting commitment to the care of our customers during this challenging environment and to seizing opportunities created by the changes in our end markets. Additionally, we recently disclosed that we remain on track to meet our revenue estimates and potentially exceed margin expectations for the second quarter."
About Alan Feldman
Mr. Feldman joined the JBT Board of Directors in 2008. Mr. Feldman previously retired in 2012 as Chairman of the Board, President and Chief Executive Officer of Midas, Inc., an international automotive services company. Prior to joining Midas, Mr. Feldman held several senior management positions within McDonald's Corporation, including President and COO of McDonald's Americas, and PepsiCo, where he served in financial and operational roles. Mr. Feldman currently serves on the Board of Directors of GNC Holdings, the Board of Directors of Foot Locker, and the Board of Directors of the University of Illinois Foundation. Mr. Feldman holds an MBA and a Bachelor of Arts degree in marketing from the University of Illinois.
About Brian Deck
Mr. Deck has served as Executive Vice President and Chief Financial Officer of JBT since May 2014. Prior to joining JBT, Mr. Deck served as Chief Financial Officer of National Material L.P., a private diversified industrial holding company (since May 2011). He served as Vice President of Finance and Treasury (from November 2007 to May 2011) and as Director, Corporate Financial Planning and Analysis (from August 2005 to November 2007) of Ryerson Inc., a metals distributor and processor. Prior to his service with Ryerson, Mr. Deck had increasing responsibilities with General Electric Capital, Bank One (now JPMorgan Chase & Co.) and Cole Taylor Bank. Mr. Deck holds an MBA with a concentration in finance from DePaul University in Chicago, and a Bachelor of Arts degree in economics from the University of Illinois.