Skyline Corp. (NYSE: SKY) tells MHProNews that Jeff Newport has been promoted to Chief Operating Officer.
Newport previously served as Senior Vice President of Operations, joining Skyline in February 2016.
“Jeff has already made a significant impact on our operations and his promotion to Chief Operating Officer is well-earned,” said Richard W. Florea, Skyline’s President and CEO.
“I have worked closely with Jeff over the past 12 months and I look forward to continue working together as we strive to continuously improve our operating efficiency and overall profitability.”
Newport will continue to report to Florea, and will serve as a member of the executive leadership team. His responsibilities include leading Skyline’s overall operations in the areas of manufacturing, procurement, quality, human resources and engineering.
As Daily Business News readers are aware, Skyline has been in the news recently, including a story on the shut down of their Mansfield, Texas facility.
“The suspension is due to the plant being unable to profitably operate since it was converted from producing recreational vehicles to manufactured housing in fiscal 2014,” said Florea in an announcement to employees at the plant.
“Challenges this location faced included fewer independent manufactured housing dealerships buying homes than anticipated resulting in sales volumes not reaching profitable levels.”
Skyline is looking for a buyer for the facility, but stated in their recent 8-K filing that if a buyer cannot be found by the time current production at the facility is completed at the end of March, the majority of the workforce is expected to be terminated.
More on Skyline, including their spike in stock price is linked here. For more Vector Capital Management increasing its stake in the company by 805 percent in December, click here.
Skyline is one of the industry stocks monitored each business day on the MH Industry’s leading professional news resource, the Daily Business News, on MHProNews. For yesterday’s closing numbers on all MH industry-connected tracked stocks, please click here. ##
(Editor’s Note: most recent earnings report from Skyline Corp. is linked here.)
(Image credits are as shown above.)
Submitted by RC Williams to the Daily Business News, MHProNews.
