THE MIDDLEBY CORPORATION

(MIDD)
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Delayed Nasdaq  -  05/27 04:00:01 pm EDT
150.57 USD   +3.86%
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Middleby : Follett Announces Senior Management...

01/17/2022 | 12:35pm EDT

Culture

Jan. 17, 2022

Follett Products LLC today announced two senior management promotions. Mike Raycher has been named General Manager and Jeff Maybruck has been elevated to Senior Vice President of Operations. Both will be based at the Follett headquarters in Easton, Penn.

Mike will lead the strategic direction of Follett and oversee manufacturing, engineering, sales and marketing and accounting. He will report to Korey Kohl, President of Beverage.

"Mike has been an asset to Follett since he joined the company a decade ago. He has led his team to deliver continuous sales growth and has proven himself to be an effective and respected leader," said Korey Kohl, Middleby President of Beverage. "He has the ability inspire the team and is experienced in the many different business disciplines. His expertise will be a benefit to the team as we position Follett for the future."

Jeff will expand his current role in manufacturing operations at the Follett facility. Most recently he led a successful building expansion and manufacturing site consolidation within the Follett manufacturing facilities.

"Jeff has excelled in leading the Follett manufacturing operations team through many events, including the current supply chain challenges. His focus on creating and finding solutions is a major reason there were limited production interruptions. Follett was able to deliver products that were in high demand in healthcare settings and commercial foodservice," Kohl concluded.

Mike joined Follett in 2011, as Regional Sales Manager-Southeast. Prior to joining Follett, he served in various capacities in sales and operations groups for National Refrigeration, Carrier (Beverage Air/Frigidaire Commercial Products), Keebler and Poulan/Weedeater.

Five years ago, Jeff began his career at Follett as Vice President of Operations. Prior to his time with Follett, Jeff held positions in engineering at Shell Oil Company and has had progressive leadership roles at Texas Instruments, ThermoFisher Scientific, Ametek, and Steris Healthcare. These previous roles gave him experience in operations, supply chain, R&D, customer and technical service, quality control and OPEX business transformation.

Disclaimer

The Middleby Corporation published this content on 17 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 January 2022 17:34:02 UTC.


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Financials (USD)
Sales 2022 4 090 M - -
Net income 2022 448 M - -
Net Debt 2022 2 031 M - -
P/E ratio 2022 18,1x
Yield 2022 -
Capitalization 8 189 M 8 189 M -
EV / Sales 2022 2,50x
EV / Sales 2023 2,27x
Nbr of Employees 10 624
Free-Float 85,4%
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Number of Analysts 9
Last Close Price 150,57 $
Average target price 190,00 $
Spread / Average Target 26,2%
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Managers and Directors
Timothy John Fitzgerald Vice President & Controller
Bryan E. Mittelman CFO & Principal Accounting Officer
Gordon Jude O'Brien Chairman
James K. Pool Chief Operating & Technology Officer
Martin Mckay Lindsay Secretary, Treasurer & Chief Risk Officer
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