The board of directors of Federal Signal Corporation said December 12 that Robert D. Welding, 59, will retire from the company on January 1, 2008. He has resigned from his position as president and chief executive officer. The board has appointed James E. Goodwin, 63, as interim president and chief executive officer, while the company conducts a search for a replacement. Goodwin has served as a board member of Federal Signal for two years, and was formerly the chairman and chief executive officer of United Airlines.
"We appreciate Bob Welding's efforts in repositioning Federal Signal's business lines, and we thank him for his contributions," said James C. Janning, chairman of the board of Federal Signal Corporation. "We are fortunate in Jim Goodwin to have a proven leader with broad management experience. He had a long career with United Airlines, capped with his tenure as chairman and CEO until his retirement in 2001. Jim has been an active member of our board since 2005, and in that time he has come to know the Company, its management team and its businesses."
"I've been very impressed with the talented and motivated employees I've met during my time on the board and by the company's outstanding products," said Goodwin. "I'm excited to have the opportunity to serve as the leader of this dynamic company with its 106-year-long tradition of market leadership. I will immediately begin working with the board and employees to prioritize initiatives and strengthen and grow Federal Signal."
The Federal Signal Board has formed a search committee, comprising a group of directors, to begin the search for a new CEO.
Federal Signal designs and manufactures a suite of products and integrated solutions for municipal, governmental, industrial and airport customers. Federal Signal's portfolio of trusted, high-priority products include Bronto aerial devices, Elgin and Ravo street sweepers, E-ONE fire apparatus, Federal Signal safety and security systems, Guzzler industrial vacuums, Jetstream waterblasters and Vactor sewer cleaners. In addition, the company operates consumable industrial tooling businesses. Federal Signal was founded in 1901 and is based in
