MILWAUKEE--(BUSINESS WIRE)--Nov 11, 2024--
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Jennifer Slater, STRATTEC President and CEO, noted, “We are in the midst of a transformation that requires deep financial experience and capabilities related to operational change, data analytics and information systems. Given the level of experience essential to execute our transformation, the Company needs operational financial proficiency with implementing tools and oversight processes to create the focus and consistency requisite for achieving more predictable financial outcomes. Dennis has been great support for me and the organization as we have managed through the early stages of change, and we are very grateful that he will continue to support us through this transition.”
She continued, “We are pleased to welcome Matt to the team. He has a proven track record of building, growing and transforming businesses. We believe that his ability to implement best practices and enhance our financial operations, as well as to define and deliver on key performance metrics, will help us drive cash generation, improve operational performance and support predictable commercial growth. His experience directly aligns with the needs of the organization as we advance our transformation and we expect his knowledge will add greater depth and dimension to our team as we work to uncover the underlying earnings potential of the Company.”
With extensive financial management experience, Mr. Pauli brings over twenty years of leadership developing and advancing finance teams, instilling financial discipline in organizations and delivering value creation. He most recently was Executive Advisor and Chief Financial Officer of CentroMotion, where he established forecasting and reporting processes, improved global spend visibility, led projects to increase working capital velocity and provided financial leadership to operational footprint, continuous improvement and business value creation initiatives. Previously, Mr. Pauli served in progressively challenging finance roles at Enerpac (NYSE: EPAC), including Corporate Controller/Chief Accounting Officer as well as Vice President, Finance for the former Engineered Components & Systems segment. He began his career at Ernst & Young and earned his Bachelors in Business Administration - Accounting at the University of Wisconsin-Whitewater.
About STRATTEC
STRATTEC is a leading global provider of advanced automotive access, security & authorization and select user interface solutions. With a history spanning over 110 years, STRATTEC has consistently been at the forefront of innovation in vehicle security, transitioning from mechanical to integrated electro-mechanical systems. The Company serves a broad range of customers, including leading automotive OEMs, offering power access solutions and advanced security systems that include door handles, lift gates, latches, and key fobs.
Safe Harbor Statement
Certain statements contained in this release contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words or phrases such as “anticipate,” “believe,” “could,” “expect,” “intend,” “may,” “planned,” “potential,” “should,” “will,” and “would” and include all statements with regard to the Company’s transformation, expectations of predictability and improved operational performance, cash generation and underlying earnings potential. Such forward-looking statements are inherently subject to many uncertainties in the Company’s operations and business environment. These uncertainties include general economic conditions, in particular, relating to the automotive industry, consumer demand for the Company’s and its customers’ products, competitive and technological developments, customer purchasing actions, changes in warranty provisions and customer product recall policies, work stoppages at the Company or at the location of its key customers as a result of labor disputes, foreign currency fluctuations, uncertainties stemming from U.S. trade policies, tariffs and reactions to same from foreign countries, the volume and scope of product returns, adverse business and operational issues resulting from the continuing effects of the coronavirus (COVID-19) pandemic, matters adversely impacting the timing and availability of component parts and raw materials needed for the production of our products and the products of our customers and fluctuations in our costs of operation (including fluctuations in the cost of raw materials). Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances occurring after the date of this release. In addition, such uncertainties and other operational matters are discussed further in the Company’s quarterly and annual filings with the Securities and Exchange Commission.
The Board of Directors of STRATTEC has appointed Matthew Pauli as Senior Vice President, Chief Financial Officer effective November 13, 2024. (Photo: Business Wire)
SAN ANTONIO (AP) — Basketball Hall of Famer Gregg Popovich is recovering from what the San Antonio Spurs described as a mild stroke, though there is no timetable for the NBA's longest-tenured coach to return to the sideline.
Popovich had the stroke on Nov. 2 at the arena where the Spurs play, the team said Wednesday, and has already started a rehabilitation program with belief that he will make a full recovery. The team released no other details, including what aftereffects of the stroke — if any — that he is dealing with.
“It's a difficult time for everyone,” Spurs general manager Brian Wright said. “Coach Pop has been the leader of this organization for the last three decades. We all have come across or know people that just have a different aura, a difference presence about them. Clearly, he's one of those people. When we walk into the building each and every day, we feel that leadership, we feel that presence and so not having him there's clearly a void. And we miss him.”
The 75-year-old Popovich is the NBA's all-time win leader who has led the Spurs to five championships, plus guided USA Basketball to a gold medal at the Tokyo Olympics in 2021. He is in his 29th season as coach of the Spurs.
“He's doing well. He's doing well. ... He's tough, he's a fighter and he's going to work,” Wright said. “We're all here for him, but he's doing OK.”
Assistant coach Mitch Johnson has been the acting head coach in Popovich’s absence. The Spurs play at home Wednesday against Washington, and that will be the seventh straight game in which Johnson will be filling in for Popovich.
“Mitch has been great,” Spurs rookie Stephon Castle said Wednesday, before the team announced the details about Popovich’s health. “Even when Pop was here, he’s always had a voice in our huddles and in our locker room. Our philosophies haven’t been changed.”
A stroke happens when blood flow to part of the brain is blocked or if a blood vessel in the brain bursts. That deprives the brain of oxygen which can cause brain damage that can lead to difficulty thinking, talking and walking, or even death. Strokes may lead to difficulty speaking, paralysis or loss of movement in certain muscles, memory loss and more.
It is unknown if Popovich is dealing with any aftereffects of the stroke.
Stroke was the fourth leading cause of death in the U.S. in 2023, according to the Centers for Disease Control and Prevention, and more than half a million Americans have a stroke every year.
The Spurs were playing the Minnesota Timberwolves at home on Nov. 2, and Popovich's medical episode occurred there in the hours before that game. Johnson took over for that night's contest, which the Spurs won, after the team said Popovich was not feeling well.
Johnson and Popovich spoke on Nov. 3, and on Nov. 4 Johnson said Popovich is “in good spirits ... he'll be OK. He is OK.” The Spurs had not released much in the way of details since, prior to Wednesday's announcement about the stroke.
Wright raved about the way Johnson and the Spurs have bonded and dealt with the absence of the team's leader.
“It's exactly what Coach Pop would want us to do,” Wright said. “And so, it's on all of us to play our part, to play our role, to continue to lean on each other, support one another and be there for one another.”
Popovich is one of only three coaches to win the NBA coach of the year award three times, Don Nelson and Pat Riley being the others. He’s one of five coaches with at least five NBA titles; Phil Jackson (11), Red Auerbach (9), John Kundla (5) and Riley (5) are the others.
Popovich has been part of the Spurs for nearly 35 years. He was an assistant coach from 1988 through 1992, then returned to the club on May 31, 1994, as its executive vice president for basketball operations and general manager. He made the decision to fire coach Bob Hill and appoint himself coach on Dec. 10, 1996.
He's been the Spurs' sideline boss ever since.
“We look forward to the day that we can welcome him back,” Wright said.
Popovich's 29-year run with the Spurs is a span the likes of which has been nearly unmatched in U.S. major pro sports history.
Connie Mack managed the Philadelphia Athletics for 50 years, George Halas coached the Chicago Bears for 40 years and John McGraw managed the New York Giants for 31 years. Those three tenures — all wrapping up well over a half-century ago — are the only ones exceeding Popovich’s run with the Spurs; his 29-year era in San Antonio to this point matches the tenures that Dallas Cowboys’ Tom Landry and the Green Bay Packers’ Curly Lambeau had in those jobs.
Reynolds reported from Miami.
AP NBA: https://apnews.com/NBA
San Antonio Spurs coach Gregg Popovich gives instructions to his players during the second half of an NBA basketball game against the Oklahoma City Thunder, Wednesday, Oct. 30, 2024, in Oklahoma City. (AP Photo/Nate Billings)
San Antonio Spurs guard Chris Paul has a word with Spurs head coach Gregg Popovich, during the second half of an NBA basketball game against the Utah Jazz, Thursday, Oct. 31, 2024, in Salt Lake City. (AP Photo/Rick Egan)
San Antonio Spurs head coach Gregg Popovich reacts after a call by the official, during the second half of an NBA basketball game, Thursday, Oct. 31, 2024, in Salt Lake City. (AP Photo/Rick Egan)
San Antonio Spurs coach Gregg Popovich gives instructions to his players during the second half of an NBA basketball game against the Oklahoma City Thunder, Wednesday, Oct. 30, 2024, in Oklahoma City. (AP Photo/Nate Billings)
San Antonio Spurs guard Chris Paul has a word with Spurs head coach Gregg Popovich, during the second half of an NBA basketball game against the Utah Jazz, Thursday, Oct. 31, 2024, in Salt Lake City. (AP Photo/Rick Egan)
San Antonio Spurs head coach Gregg Popovich reacts after a call by the official, during the second half of an NBA basketball game, Thursday, Oct. 31, 2024, in Salt Lake City. (AP Photo/Rick Egan)
