Newsletter #344 (View other news stories)
Clark CEO buys equity in company
LEXINGTON, KY, United States
Wednesday, 23 Jan 2008
 Dennis Lawrence shakes SH Baik's hand during Clark's 90th anniversary celebrations in May 2007. |
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Clark Material Handling Company CEO Dennis Lawrence has emerged as the largest individual owner of stock in the Lexington, Kentucky-based forklift manufacturer.
Young An Hat Company Ltd (YAHC), which bought Clark in 2003, remains the largest shareholder of the global Clark forklift operations including US-based Clark Material Handling Company (Forkliftaction.com News #92).
The operating structure of Clark’s North American operations will not change, Clark spokeswoman Sherry Myers tells Forkliftaction.com News. Lawrence and the company’s management team will continue to guide the company towards long-term growth.
Myers says Lawrence had been successful in Clark chairman and YAHC founder S.H. Baik’s headwear organisations and was invited to lead Clark in 2005.
"Baik’s vision for growth for Clark in North America is what attracted Mr Lawrence to join Clark in June 2005.
"With the support of a dedicated team of professionals, the organisation has successfully implemented strategies to see this vision become a reality.
"When Mr Lawrence was given the opportunity to buy into this growing organisation and continue his life-long partnership with Baik, he was honoured to do so."
Baik was the supplier of headwear to the Canadian company that employed Lawrence when they first met in Montreal in 1982.
Lawrence then worked for Baik as a Young An executive in Montreal and Vancouver, Canada; Dallas, Texas; Bentonville, Arkansas; and Lexington, Kentucky.
"As with most privately held corporations in the US, Clark does not publicly disclose specifics as to shares of ownership and share price," says Myers.
"Much more important than the percentages … [is] the trust and confidence Mr Baik has in Mr Lawrence’s stewardship of Clark with its long and storied history."
Young An has core interests in headwear, bus production and Asian telecommunications.
Click here to read Clark's company profile.
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