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Jason D. Lippert Elected to Board of Drew Industries

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2007-05-23 08:53:58     
Drew Industries Incorporated

Drew Industries Incorporated (NYSE: DW) today announced that its Board of Directors elected Jason D. Lippert, Chairman, President and CEO of Drew's subsidiary Lippert Components, as a director of Drew. Jason Lippert replaces L. Douglas Lippert, who, on May 10, 2007, resigned from Drew's board of directors for personal reasons.

"We want to thank Doug for his years of service as a leader at Lippert Components and as a valued member of Drew's Board," said Leigh J. Abrams, Drew's President and CEO. "We also want to welcome Jason to the Board. Under Jason's guidance since 2003, Lippert Components has realized extraordinary growth in sales and profits by increasing market share, introducing new products and completing accretive acquisitions. We expect that his experience and leadership at Lippert Components will be extremely valuable to our Board."

Drew reported that Douglas Lippert also withdrew as a nominee for re- election as a director at the Annual Meeting of Stockholders on May 31, 2007. Drew's Board will nominate Jason D. Lippert for election as a director at the Annual Meeting, and the persons named as proxies in the Proxy Statement will vote for him to serve as a director.

Jason D. Lippert, 35, Douglas Lippert's son, has served as President and CEO of Lippert Components since 2003, and was appointed Chairman of Lippert Components in January 2007 following the expiration of Douglas Lippert's employment agreement. Prior to that, Lippert served as executive vice president and chief operating officer of Lippert Components from 2000-2003, and as regional director of operations from 1998-2000.

In September 2006, Jason Lippert was elected to the Board of Directors of the Recreational Vehicle Industry Association.

About Drew:

Drew, through its wholly owned subsidiaries, Kinro and Lippert Components, supplies a broad array of components for RVs and manufactured homes. Drew's products include vinyl and aluminum windows and screens, doors, chassis, chassis parts, RV slide-out mechanisms and power units, leveling devices, bath and shower units, axles, bed lifts, steps, electric stabilizer jacks, and suspension systems, as well as trailers for hauling equipment, boats, personal watercraft and snowmobiles, and chassis and windows for modular homes and offices. Currently, from 42 factories located throughout the United States and one factory in Canada, Drew serves most major national manufacturers of RVs and manufactured homes in an efficient and cost-effective manner. Additional information about Drew and its products can be found at http://www.drewindustries.com.

Specialized in: Board - Drew Industries
URL: http://www.drewindustries.com
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