Blue Bird Corporation announced that Dennis Donovan will resign as a director of the Company effective upon consummation of the Initial Closing (as defined in the Purchase Agreement) and his resignation is contingent upon the occurrence of the Initial Closing. Effective upon the consummation of the Second Closing (and contingent upon the occurrence of the Second Closing, Chan Galbato and Dev Kapadia will resign as directors of the Company, and two individuals designated by ASP shall be appointed to the board of directors of the company. Effective upon the consummation of the Initial Closing and contingent upon the Initial Closing, Kevin Penn shall be elected as a director of the Company to serve as a Class I director for a term expiring in 2018 and Michael Sand shall be elected as a director of the Company to serve as a Class III director for a term expiring in 2017. Mr. Penn, a Managing Director of American Securities, and Mr. Sand, a Principal of American Securities, have each been designated by American Securities pursuant to the Purchase Agreement to serve on the Company's board of directors. Messrs. Penn and Sand have not yet been appointed to any committee of the board, and there is no material plan, contract or arrangement to which either is a party or in which he participates that has been entered into in connection with this event.