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FOR IMMEDIATE RELEASE
Contact:
Thomas J. Chaump
FCF Schmidt Public Relations
610-941-0395
tchaump@fcfschmidtpr.com

 

PHILADELPHIA GEAR APPOINTS STEPHEN
VERGET AS NEW CHIEF FINANCIAL OFFICER

Verget to play key role in implementation of aftermarket
service business model

 

April 24, 2002 (Norristown, PA) - Philadelphia Gear Corporation, a full-service provider of gearing and power transmission solutions, announces the hiring of Stephen Verget to the position of Chief Financial Officer (CFO).

 

Verget replaces Matt O'Reilly, and will be responsible for leading all accounting, financial analysis and treasury functions for Philadelphia Gear. He will also play a key leadership role in defining and executing Philadelphia Gear's evolving business model focused on specialized gear aftermarket service and marine propulsion drives.

 
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Verget brings with him 23 years of experience as a finance leader with E.I. DuPont de Nemours in a number of roles. He has held several business unit CFO positions within DuPont, including Agricultural Biotechnology, Advanced Materials, Agricultural Products North America, and Information Technology.

 

"The addition of Stephen Verget is key to our continued development as a company," says Carl Rapp, President and CEO, Philadelphia Gear. "His extensive experience with DuPont will surely be an asset as we continue to establish our position as an aftermarket service provider."

 

Verget received his bachelor's degree in Accounting in 1978 from the Rochester Institute of Technology, Rochester, New York. He later went on to receive his master's degree in Business Administration in 1984 from Widener University, Chester, Pennsylvania. Verget currently resides in Avondale, Pennsylvania, with his wife Mary Beth and three children, Terese, Alexander, and Leanna.

 

A founding member of the American Gear Manufacturers Association (AGMA), Philadelphia Gear offers products and services found in use worldwide; from enclosed gear drives used in the oil fields of Saudi Arabia, to speed reducing units helping power the cable cars of San Francisco. The company serves thousands of customers across the globe from its regional service and manufacturing facilities in New Castle, DE; Birmingham, AL; Chicago, IL; Houston, TX; and Los Angeles, CA. Philadelphia Gear is headquartered in Norristown, PA.

 

For more information on Philadelphia Gear Corporation, call 1-800-766-5120, or fax 610-337-5637.

 


 

   
 
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