Hidden Creek Industries Announces the Appointment of Scott Rued as President and CEO With Tony Johnson as ChairmanMINNEAPOLIS--May 17, 2001--Hidden Creek Industries (HCI), a privately held management company, today announced the appointment of Scott D. Rued as its president and chief executive officer. He takes over responsibilities from S.A. "Tony" Johnson, who will become chairman of the company.
"This is a natural transition and reflects the great respect that Scott has earned at HCI, at our affiliated companies, and in the investment and banking community," Johnson said. "Scott will take over day-to-day responsibilities and allow me the flexibility to concentrate on new ventures and long-term strategy while continuing involvement with operating companies. Scott and I began HCI in 1989 with the concept of developing a presence in the industrial sector. Along with our partner, Onex Corporation, we have nurtured and grown a portfolio of entities to the point where three became public companies and the current portfolio of HCI companies has net revenues of more than $7 billion."
Eric J. Rosen, managing director of Onex Corporation, said, "We have had a great partnership with Hidden Creek thanks to the vision and leadership of Tony and his team. As CEO, Scott will add a new focus and fresh perspective and we look forward to working with the team at Hidden Creek on long-term growth strategies in the decade ahead."
Hidden Creek Industries is a privately held industrial management company based in Minneapolis, MN. The company and Onex Corporation, which is based in Toronto, make investments in and provide services to affiliated operating companies. Hidden Creek affiliates include: Tower Automotive, Inc., Dura Automotive Systems, Inc., Trim Systems, Inc., CVS, Inc., Bostrom Ltd., Performance Logistics Group, Performance Marketing Group, and J. L. French Automotive Castings, Inc.