MILE MARKER INDUSTRIES ANNOUNCES MANAGEMENT CHANGES

POMPANO BEACH, Fla., May 26, 2022 /PRNewswire/ -- The Board of Directors of Mile Marker Industries, Inc. announced today that Paul Fioravanti, MBA, MPA, CTP, has been named Interim CEO, and Randall Speir, an accomplished automotive industry executive, has been named VP of Operations and Innovation.

According to Fioravanti, "a private investor acquired the business in the summer of 2021 and Mile Marker has a long tradition of quality, product innovation and excellence beginning with its founding in the early 1980's. Mile Marker felt it was time to bring in some experienced transformational leadership to prepare the company for its contemplated next phase of growth as we expand our reach and leverage our technologies to provide solutions with the objective of increasing demand."

Fioravanti replaces former President John Laub.

According to Fioravanti, "Mile Marker has an outstanding tradition for quality off road winches, hubs, and recovery gear, is ISO Certified, and is a member of SEMA, the Specialty Equipment Manufacturing Association. I am proud to work closely with the incredible team here at MMI to spearhead growth, drive profitability and increase operational excellence. MMI is a proven supplier to the auto, truck, and recreational equipment aftermarket, as well as to the United States military. We plan to expand our presence in the public sector marketplace with offerings for public works, public safety, environmental maintenance, marine, homeland security, space exploration, and beyond. In consumer end-user markets we plan to provide solutions that add value to passenger cars and enhance the capability of the vehicle and the operator.

Mile Marker is continuing to invest in R&D, product development and process improvement with the goal of bringing new and innovative products to the aftermarket and accessories marketplace. MMI has invested in inventory and logistics as well to ensure that our products are available given the current global supply chain constraints."

Fioravanti is a proven transformation CEO with experience in more than 80 situations in more than 35 industries over his career.

Randall Speir was recently named VP of Operations and Innovation.

According to Speir, "Mile Marker is deep-rooted in innovation and was ahead of its time when the company started nearly 40-years ago with drivetrain conversion kits to increase a vehicle's fuel economy. Utilizing the hydraulic system of an automobile to power a recovery system was another innovative idea leading to an ongoing relationship with the United States Military and earning the trust of thousands of service people. I am excited to work with the MMI team to continue leveraging technologies, developing innovative solutions, and producing dependable products that enrich people's lives in their professional and recreational activities."

Mr. Speir is a veteran in the global mobility-industry with extensive knowledge of product engineering, manufacturing, planning, program management, sales, marketing, and the aftermarket.

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SOURCE Mile Marker Industries