ELKHART, Ind., Oct. 19, 2015 /PRNewswire/ -- Thor Industries, Inc. (NYSE: THO) today announced that Aram Koltookian has been named President of the Company's K-Z, Inc. subsidiary. Koltookian has been serving as Chief Operating Officer for K-Z since May 2014, and will assume the president role from company founder Daryl Zook, who remains as Chairman of K-Z.
Thor President and Chief Executive Officer, Bob Martin commented, "The management succession at K-Z highlights the bench strength and depth of talent at Thor. Shortly after the acquisition of K-Z, we were able to transfer Aram from Dutchmen to the new subsidiary, where his talent and experience in product development and sales benefited K-Z and its dealers."
Koltookian noted, "I am proud to be part of such a strong organization. K-Z's more than four decades of history producing high-quality products has been the foundation of our success with dealers and consumers alike. As we look forward, we see great opportunities to build on our strengths as well as lead the industry with new and innovative products, while maintaining the values that Daryl founded the company on in 1972."
Prior to serving as K-Z's Chief Operating Officer, Koltookian was Executive Vice President at Dutchmen, where he helped lead the integration of Dutchmen's operations with Keystone. Prior to Dutchmen, he was with Keystone RV, where he served in a variety of roles including product manager and general manager over the Montana, Cougar, Outback and Springdale brands. Koltookian grew up in the RV industry, starting out at his father's RV dealership in New Hampshire before he was hired by Coachmen RV in 1994.
"Aram has been an important part of K-Z since our companies came together in May, 2014," noted Daryl Zook, K-Z's founder and Chairman. "Aram brought a fresh perspective to the company. As Aram takes the reins, I feel confident that he brings the right values, skills and clear vision to continue building K-Z and I know that our management team backs him 100 percent. I look forward to working with Aram on some very exciting projects that will benefit K-Z and our dealers."
About Thor Industries, Inc.
Thor is the sole owner of operating subsidiaries that, combined, represent one of the world's largest manufacturers of recreational vehicles.
This release includes certain statements that are "forward looking" statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward looking statements are made based on management's current expectations and beliefs regarding future and anticipated developments and their effects upon Thor Industries, Inc., and inherently involve uncertainties and risks. These forward looking statements are not a guarantee of future performance. We cannot assure you that actual results will not differ from our expectations. Factors which could cause materially different results include, among others, raw material and commodity price fluctuations, material or chassis supply restrictions, legislative and regulatory developments, the costs of compliance with increased governmental regulation, legal issues, the potential impact of increased tax burdens on our dealers and retail consumers, lower consumer confidence and the level of discretionary consumer spending, interest rate fluctuations and the potential economic impact of rising interest rates, restrictive lending practices, management changes, the success of new product introductions, the pace of obtaining and producing at new production facilities, the pace of acquisitions, the potential loss of existing customers of acquisitions, the integration of new acquisitions, the impact of the divestiture of the Company's bus business, the availability of delivery personnel, asset impairment charges, cost structure changes, competition, the potential impact of the strengthening of the U.S. dollar on international demand, general economic, market and political conditions and the other risks and uncertainties discussed more fully in ITEM 1A of our Annual Report on Form 10-K for the year ended July 31, 2015. We disclaim any obligation or undertaking to disseminate any updates or revisions to any forward looking statements contained in this release or to reflect any change in our expectations after the date of this release or any change in events, conditions or circumstances on which any statement is based, except as required by law.
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SOURCE Thor Industries, Inc.