Valmont CEO Stephen Kaniewski Steps Down

(RTTNews) - Valmont Industries, Inc. (VMI), a company focused on agriculture and infrastructure, said on Tuesday that its Chief Executive Officer, Stephen G. Kaniewski, is stepping down to pursue other opportunities.

Subsequently, the company has appointed Avner M. Applbaum, current Executive Vice President and Chief Financial Officer, as President and CEO, with immediate effect.

Applbaum has over 25 years of experience in senior corporate roles in publicly traded and private equity-backed companies, including Valmont where he has served as EVP and CFO since March 2020.

The company has also announced the appointment of Timothy P. Francis, Senior Vice President and Finance Business Partner, Global Operations as Interim CFO.