Governor Terry Branstad Elected to Featherlite, Inc., Board of Directors
13 May 1999
Governor Terry Branstad Elected to Featherlite, Inc., Board of Directors
CRESCO, Iowa, May 13 -- Featherlite, Inc. , a
leading manufacturer and marketer of specialty aluminum trailers and luxury
motorcoaches, announced today that former Iowa Governor Terry E. Branstad was
elected to its Board of Directors at Featherlite's Annual Meeting of
Shareholders held yesterday, May 12. Governor Branstad was nominated to
succeed John H. Thomson, who did not stand for reelection to the Featherlite
board in accordance with the company's retirement-age policy for directors.
Shareholders also reelected to the Featherlite Board of Directors six
incumbent nominees: Conrad D. Clement, Jeffery A. Mason, Tracy J. Clement,
Donald R. Brattain, Thomas J. Winkel and Kenneth D. Larson.
"I am very pleased to begin serving on the board of this dynamic and
rapidly growing Iowa-based corporation, and look forward to contributing to
Featherlite's future growth and success," Branstad said.
Branstad served as Iowa's Governor from 1983 to 1999, and was the longest-
serving governor in Iowa's history. He is a lifelong resident of Iowa,
receiving his J.D. degree from Drake University Law School in 1974 and a B.A.
degree from the University of Iowa in 1969. Branstad began his career in
public service with his election as an Iowa state representative in 1972.
Conrad Clement, Featherlite's chairman and chief executive officer, said,
"It is a great honor and distinct privilege to welcome Governor Branstad to
our board. We look forward to incorporating his vision, wisdom and experience
in our board's deliberations as we continue to expand our business to the
benefit of Featherlite's employees, shareholders, dealers and suppliers.
"Jack Thomson has served on our board with distinction since 1994, and we
gratefully acknowledge his many contributions and wise counsel," Clement said.
Featherlite, Inc., with sales of $191 million in its fiscal year ended
Dec. 31, 1998, is an innovative leader in designing, manufacturing and
marketing high quality aluminum specialty trailers, transporters and luxury
motorcoaches. With 80 percent of its business in the leisure, recreation and
entertainment categories, Featherlite has highly diversified product lines
offering 400 standard model and custom-designed aluminum specialty trailers,
specialized transporters and luxury motorcoaches. Featherlite is the
"Official Trailer" of NASCAR, Championship Auto Racing Teams (CART), Indy Race
League (IRL), SPORTSCAR, Automobile Racing Club of America (ARCA), American
Speed Association (ASA), World of Outlaws (W.O.O.) and the National Hot Rod
Association (NHRA). Through its Featherlite Vantare and Featherlite Vogue
product lines, Featherlite is the "Official Luxury Motorcoach" of NASCAR, IRL,
SPORTSCAR, CART and NHRA. For more information about the company, please
visit Featherlite's website at http://www.featherliteinc.com
For more information, contact Doug Ewing of Swenson NHB Investor
Relations, Minneapolis, 612-344-1036, for Featherlite, Inc., or Jeffery A.
Mason of Featherlite, Inc., 319-547-6000.