Briggs & Stratton Corporation announced July 30 that John S. Shiely plans to retire as chief executive officer (CEO) effective Dec. 31, 2009. The corporation’s board of directors is expected to appoint Todd J. Teske, currently president and chief operating officer (COO), as president and CEO effective Jan. 1, 2010.
Provided Shiely is re-elected as a director at the 2009 annual meeting of shareholders currently scheduled for Oct. 21, 2009, he intends to continue to serve as a director and chairman of the board until the 2010 annual meeting of shareholders. It is also expected that the board of directors will elect Teske as a director prior to Shiely’s retirement.
Teske, age 44, has served as president and COO since Sept. 1, 2008. Teske is also president of Briggs & Stratton Power Products Group, LLC. He previously served as executive vice president and COO since September 2005, and as senior vice president and president – Briggs & Stratton Power Products Group, LLC from September 2003 until August 2005.
Shiely has been chairman and CEO of Briggs & Stratton since September 2008, after serving as chairman, CEO and president since January 2003. He previously served as president and CEO, president and COO, executive vice president – administration, and general counsel. In addition, Shiely serves as a director and chairman of the board of the corporation’s subsidiary Briggs & Stratton Power Products Group, LLC, and his retirement from those positions is expected to be effective Dec. 31, 2009.