* John L. Bakane is out as CEO
* Robin Perkins, president, to take over
* First textiles deal for American Securities
Frontier has promoted President Robin Perkins to replace John L. Bakane, who has been with the company for five years and will move to a position as Executive Chairman of the company’s Board of directors, according to a statement.
American Securities LLC late last year made its first foray into a the U.S. textile business with the purchase in the Sanford, N.C.-based manufacturer. The move came during wave of investment by already-entrenched domestic producers and by foreign competitors moving to U.S. shores, driven by low-cost, reliable energy, a push for more sourcing in the Americas, and demand for the semi-fabricated product in top consumer China. (UPDATE: American Securities said the management changes were planned prior to its December 2013 acquisition of the company.)
Frontier makes cotton and blended yarns to be woven into apparel, household linens, and other consumer goods in five plants in North Carolina and Alabama.
“I am excited to take the helm of Frontier as we embark upon a multi-year modernization program and seek to expand our strong customer base,” Perkins, who is one of the company’s founders, said in a statement.
Yarn makers in China, India, and Mexico have decided to set up shop on U.S. shores, following a wave new plant openings over the last few years.
Frontier also promoted Barbara F. Walton as Executive Vice President and Chief Financial Officer, John M. Maness to Executive Vice President of Manufacturing, John C. Riddle to Senior Vice President of Sales, and John W. Garris to Vice President of International Sales, according to the statement.
Reporting by Chris Prentice of Reuters news service.