As part of a strategic maneuver to bolster the financial side of its leadership, Rev Group, the well-known specialty vehicles producer, has brought in Amy Campbell as its Senior Vice President and CFO from April 15, 2024. As the former vice president of procurement at Caterpillar, the heavy equipment company, Campbell brings a solid resume of 23 years of executive experience.
Rev Group, based in Milwaukee, Wisconsin, a city in the Midwestern United States, revealed Amy Campbell as its new CFO last week. Campbell takes the place of the previous President and the CEO, Mark Skonieczny, who was also the interim Chief Financial Officer since May 2023. Skonieczny succeeded Rushing after the latter quit the position in January 2023 and was the President and CEO previously.
The appointment of Mr. Campbell as the new CFO coincides with the peak of the cost-cutting and restructuring period, which are being carried out in Rev Group. Campbell –with her extended financial background and leadership capabilities– is prepared to offer pivotal counsel as well as to facilitate strategic decision-making to assist the company in its further evolvement.
“Amy is an experienced and highly respected finance executive,” said Mark Skonieczny, President and CEO of Rev Group. “With her broad financial experience, she will provide important leadership and guidance to REV Group.”
Campbell’s Impressive Background:
Before starting the work with the Rev Group, Campbell was CFO for several companies, including building materials organizations ASC Engineered Solutions and commercial and industrial part of BrandSafway. Nevertheless, the most memorable of all her professional experience stems from the 23-year employment at Caterpillar, where she began as an intern and went on to advance to the position of Vice President – Investor Relations and Chief Internal Audit Officer.
Compensation and Incentives:
According to the financial report, Campbell will be paid the base salary of $500,000 and a sign-on bonus amounting to $150,000. Moreover, she has the chance to benefit from Rev Group’s management incentive plan which aims to get 75% of her basic salary and has the maximum obtainment of 200%. Campbell will be awarded a stock payout valued at $500,000 in four equal installments on December 31 for each year from 2024 to 2027.
Rev Group’s Strategic Initiatives:
Streets ahead, the arrival of Campbell will be advantageous now for Rev Group, since the company just decided to get out of the bus manufacturing business by selling its subsidiary Collins Bus to Forest River Bus for a $303 million price tag. Also, it plans to shut down operations and close the El Dorado National bus manufacturing plant in Riverside, California, by September end.
Having had a wide working experience and as we recognize her capabilities in leadership, Amy Campbell is in the right position to oversee the company’s financial strategies and to help in Restructuring the company. As the specialty vehicle manufacturer navigates these changes, Campbell’s expertise will be invaluable in driving sustainable growth and maximizing shareholder value.