Valmont Industries today announced that its Board of Directors has named Avner M. Applbaum, current executive vice president and chief financial officer, as president and chief executive officer, effective immediately. Applbaum succeeds Stephen G. Kaniewski, CEO since Dec. 31, 2017, who is stepping down to pursue other opportunities. Kaniewski will serve in an advisory capacity as needed to ensure a seamless transition.

The company also announced the appointment of Timothy P. Francis, senior vice president and finance business partner, Global Operations, and former SVP, Corporate Controller as Interim Chief Financial Officer.

Applbaum has more than 25 years of experience in senior operational and financial roles in publicly traded and private equity-backed companies, including Valmont where he has served as EVP and CFO since March 2020, and previously Double E Company, Ametek, Belden, and TE Connectivity, formerly Tyco Electronics. As EVP and CFO of Valmont, Applbaum has led the IT infrastructure, cybersecurity and technology innovation functions and has been responsible for developing and implementing the company’s financial strategy and overseeing all financial activities.

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