Bearings, Components Maker NN Inc. Appoints New CEO

Warren Veltman, who was NN's interim president CEO since September, is now cemented in those roles.

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NN Inc.

CHARLOTTE, NC — NN, Inc., a diversified industrial company, announced Tuesday that its board of directors has appointed Warren Veltman as president and chief executive officer, effective immediately. Veltman has served as NN's interim president and CEO since Sept. 16, 2019.

VeltmanVeltmanRobert Brunner, chairman of the board, said, "Following a comprehensive search of qualified candidates, the board concluded that Warren is best suited to lead NN through its next evolution. Since he was named interim president and CEO, Warren has applied his deep industry knowledge, leadership and operational skills to the role, implementing effective cost-saving initiatives, strengthening our balance sheet and helping lead the company's review of strategic alternatives. The board has confidence in his ability to continue to drive improved financial and operational performance and enhance long-term shareholder value."

Veltman added, "I am honored by the board's decision to appoint me as president and CEO of NN and I am grateful for the board's support as we work together to implement numerous initiatives to streamline costs, de-lever our balance sheet and strengthen our credit profile. I remain focused on pursuing disciplined capital allocation strategies that will set NN up effectively to drive value in the long-term." 

Before serving NN's interim president and CEO, Veltman served as executive vice president of NN's Mobile Solutions group, a position he held when he joined the company in 2014 as part of NN's acquisition of Autocam Corporation, an automotive component manufacturer. Prior to that, Veltman served as chief financial officer and treasurer of Autocam Corporation, and of Autocam Medical, a medical device manufacturer. Earlier in his career he was an audit manager with Deloitte & Touche.

NN Inc. combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, NC, NN has 50 facilities in North America, Europe, South America and China.

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