Extrusion International USA 5-2022

34 Extrusion International 5/2022 34 INDUSTRY NEWS NewMember of Board of Directors Vice President, Treasury and Finance Appointed Additional $500Million for Share Repurchase ProgramAuthorized  Nordson Corporation announced the appointment of Dr. Milton Mor- ris, recently retired president and chief executive officer of Neuspera Medical, Inc., to its board of directors. Dr. Morris will bring robust business leadership ex - perience, as well as a legacy of success- ful product innovation, to the board. “We are pleased to welcome Mil- ton as a new independent director. His passion for innovation and new product development aligns well with Nordson’s strength of understanding customer needs and bringing diversi- fied precision technology solutions to market. In addition, his professional background in medical devices will enhance our understanding, as Nord- son plans to further expand acquisi - tively in this exciting space. We look forward to bringing Milton’s perspec- tive to the board,” said Michael Mer - riman, chair of the board of directors, Nordson Corporation. Throughout his career, Dr. Mor- ris has demonstrated a passion for product development that improves people’s lives. He has also led decen- tralized organizations, growing suc- cessful businesses and cultivating di- verse and inclusive talent pipelines. “I look forward to partnering with the Nordson board of directors and executive management team. The company is making solid progress on its Ascend strategy to achieve top tier growth with leading margins and re- turns. I am excited to reinforce their strong commitment to innovation while also sharing my unique perspec- tive from the medical device indus- try,” said Dr. Morris. Dr. Morris’s appointment brings the number of Nordson directors to nine, following the departure earlier this year of Arthur George, who served on Nordson’s board for ten years. Dr. Morris will serve on the board’s au- dit committee immediately upon ap- pointment.  Nordson Corporation also an- nounced that Anand Patel will suc- ceed Ray Cushing as vice president, treasury and finance following Ray’s upcoming retirement. Anand joined Nordson on September 26 from O-I Glass, Inc., a global manufacturing company, where he served as vice president and treasurer. He has held roles of increasing responsibility at O-I since 2013, and prior to that he was a senior manager at Deloitte Tax LLP for nine years. Joe Kelley, executive vice president, chief financial officer, said, “We are looking forward to welcoming Anand to Nordson’s finance team. His exper - tise and experience gained throughout his professional career with large, glob- al manufacturing organizations will serve him well in supporting Nordson’s next chapter of profitable growth.” Anand succeeds Ray Cushing, who plans to retire at the end of the calen- dar year after 42 successful years with the company. Joe Kelley said, “On behalf of the entire Nordson finance team, I’d like to thank Ray for his outstanding financial stewardship of the Com- pany. Ray successfully shepherded Nordson’s treasury function from supporting a $200 million revenue business to a business with revenue of greater than $2.5 billion. That is an incredible accomplishment and one that he can take great pride in as he moves on to his next chapter in retirement.”  Nordson Corporation announced that its Board of Directors has autho- rized the repurchase of up to an ad- ditional $500 million of the Company’s outstanding common shares, adding capacity to the $160 million remaining from its 2018 Board authorization. “The Board’s action reflects contin - ued confidence in the execution of our Ascend strategy, designed to deliver top-tier growth with leading margins and returns,” said Nordson Executive Vice President and Chief Financial Of - ficer Joseph Kelley. “Consistent cash generation is a strength of our business. We are pleased to return this value to our shareholders through annual divi- dends and disciplined share repurchas- es, particularly in this dynamic environ- ment. We also will continue making investments to fund long-term organic and acquisitive growth opportunities.” Shares may be purchased from time to time at prevailing prices, subject to market conditions, share price and other considerations. Purchases will be made on the open market pursuant to the applicable Securities Exchange Act Rules and will be funded from operat- ing cash flows. Nordson Corporation is an innova- tive precision technology company that leverages a scalable growth framework through an entrepre- neurial, division-led organization to deliver top tier growth with leading margins and returns. The Company’s direct sales model and applications expertise serves global customers through a wide variety of critical applications. Founded in 1954 and headquartered in Westlake, Ohio, the Company has operations and support offices in over 35 countries. Nordson Corporation www.nordson.com Dr. MiltonMorris