NN Chairman, CEO Baty to retire, no replacement
JOHNSON CITY, Tenn. (AP) — The chairman and CEO of NN Inc. plans to retire by May 2013, the maker of industrial plastic, rubber and metal components said Tuesday. The company will look to replace him with a current employee or an outside hire.
Roderick Baty, who has served as president and CEO since July 1997, will also step down from NN's board. He has served as chairman since September 2001 and worked for the company since July 1995.
The Johnson City, Tenn., company said it has created a search committee and hired a firm to help find Baty's successor, and he will help with the transition process.
Shares of NN fell 27 cents, or 3.2 percent, to $8.16 in afternoon trading. The stock fell as low as $4.47 last October and has traded as high as $10.86, in July, over the past year.