Blount International Inc. (BLT) announced a succession plan for its Chief Executive Officer position. Under the plan, Joshua Collins will join the Company effective October 15, 2009 as its President, Chief Operating Officer and CEO Designate.
James Osterman, the Company's Chairman and Chief Executive Officer, will retire as an employee on January 4, 2010. Upon Osterman's retirement, Collins will assume the position of Chief Executive Officer and retain the President position. Osterman will remain Chairman of the Board of Blount until the 2010 Annual Meeting of Stockholders in May.
Collins, 44, has been a Board member of Blount since 2005 and has been involved with the Company since 1999. He currently is a Partner of Collins Willmott & Co. LLC. Prior to co-founding Collins Willmott & Co. in January 2008, Collins was employed by Lehman Brothers Inc. as a Managing Director and Principal of Lehman Brothers Merchant Banking, a private equity firm that was the former majority owner of Blount's common stock from 1999 until 2004. Prior to joining Lehman Brothers, he was an infantry officer and Captain in the United States Marine Corps and is a veteran of the Persian Gulf War.
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