CHATTANOOGA, Tenn. - Astec Industries , Inc. (NASDAQ:ASTE), a manufacturer of equipment for asphalt road building, aggregate processing, and concrete production, announced today the appointment of Heinrich Jonker as its interim Chief Financial Officer. This follows the resignation of Rebecca A. Weyenberg from her role as CFO. Weyenberg will continue to provide advisory services to the company until April 30, 2024, to support the transition.
The company's Board of Directors has begun a search for a permanent CFO and is working with a nationally recognized search firm to evaluate potential candidates. Jonker, who has been with Astec for two years as Vice President Finance for Infrastructure Solutions, brings nearly two decades of public company experience to his new role. His prior experience includes various leadership positions in finance at Epiroc, a global manufacturer for the mining and infrastructure industries.
Jaco van der Merwe, President and CEO of Astec, expressed confidence in Jonker's abilities and the finance team's strength during this period of transition. He also acknowledged Weyenberg's contributions to the company, emphasizing that her departure is not due to any issues with the company's financial or operational results, nor any disagreements over financial policies or practices.
Astec operates two primary business segments: Infrastructure Solutions, which includes road building, asphalt, and concrete plants, thermal and storage solutions; and Materials Solutions, which encompasses aggregate processing equipment. The company also offers a range of controls and automation products aimed at enhancing equipment performance and productivity.
This leadership change comes at a time when Astec continues to focus on strengthening its financial foundation and maintaining its current momentum in the market. The information provided here is based on a press release statement from Astec Industries, Inc.
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