Southwire Names Stinson President as Thorn Announces Retirement

Southwire Company today named Rich Stinson as its president as the company begins a transition in leadership.

Stu Stinson – President

Stinson, now group president of electrical systems and services for Eaton Corporation, will join Southwire on Oct. 15. After initially serving as president under President and CEO Stu Thorn, Stinson will assume the role of chief executive officer following an orderly transition period. Thorn previously announced plans to retire after more than 14 years leading Southwire. His retirement closes a remarkable career of service to the company and its shareholders.

Since Thorn became Southwire's top officer in 2001, he has guided the company through a successful period of innovative new products and diversified growth, where annual sales trebled to more than $5 billion and the company became one of the world's largest wire and cable manufacturers. Under his leadership, the company has been recognized for its commitment to sustainability – focusing on the environment, employees, communities and ethics. Thorn has been instrumental in leading innovative shared-value educational initiatives, such as 12 for Life (www.12forLife.com).

"Southwire is committed to sustainable growth, where it makes sense, in the global wire and cable market. Stu has done a great job of managing that growth," said Southwire Chairman Roy Richards, Jr. "At the same time, he has helped protect and nurture the family culture that makes our company special. We wish him the best as he embarks on the next stage of his journey."

"Today is a bittersweet moment," Thorn said. "I'm extremely proud as I look back at what we at Southwire have accomplished as a team with everyone contributing in some way. I'll miss that collaborative spirit and the determination to overcome every obstacle and get the job done. But, I know the company is in very capable hands as it continues to grow into a global leader among wire and cable companies."

In his current role, Stinson is responsible for a large business group with seven divisions. The group offers a comprehensive portfolio of services for every stage of a power system's life cycle, including design, build and support.

Starting in the Westinghouse Manufacturing Development Program for projects in Puerto Rico, Stinson served in multiple disciplines such as engineering, manufacturing and supply chain before joining Eaton. There, he worked in a variety of roles, including plant manager, operations director and general manager of various facilities in the United States and Puerto Rico. As a vice president, he led Eaton's power distribution assembly, industrial controls, electrical assembly and power distribution divisions.

Stinson has more than three decades of experience in industrial manufacturing. While at Eaton, he has led double-digit growth in different businesses and guided various company segments into top market positions.

"As a member of the electrical industry, I have observed Southwire for much of my career. It's a great company," Stinson said. "I work with many of the same customers and channel partners every day. I'm privileged to join the Southwire team and I look forward to working together as we build an ever stronger, more sustainable company."

Stinson earned a bachelor's degree in engineering from the University of Pittsburgh. He plans to relocate from Pittsburgh to Georgia, Southwire's home base.

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