Accuride announces CFO’s resignation

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Accuride Corp. announced that James Woodward Jr., senior vice president of finance and chief financial officer, has resigned his position to pursue other opportunities. In order to ensure continuity, Gregory Risch, vice president and chief accounting officer, will serve as interim CFO effective immediately, while the company conducts an internal and external evaluation process to secure a permanent replacement.

Woodward joined Accuride in March 2009 as interim senior vice president and CFO and was appointed permanent CFO in May 2010. “Jim played an instrumental role in guiding Accuride through the recent economic and industry downturn and the company’s subsequent restructuring activities, which helped restore and strengthen the company’s balance sheet and position the company for future growth,” says Rick Dauch, Accuride president and chief executive officer. “The board of directors and I extend our sincere thanks to Jim for his service to Accuride and wish him success in his future endeavors.”

Risch has served in a variety capacities in the company’s finance function since joining the company in 1994, including chief accounting officer, director of financial planning and reporting and assistant controller. During this interim period, the company’s corporate and business unit finance teams will report to him.

“We are firmly committed to building shareholder value through the successful execution of our operational improvement initiatives and strategic plans,” Dauch says. “With 17 years of service with Accuride, Greg Risch has a deep understanding of our company and will provide our finance team with stability and leadership while we conduct our search for a permanent CFO.”