Financial Releases

Raven Industries Names Thomas Iacarella As New CFO Effective Aug. 1; Arnold Thue, at Raven for 31 Years, is Retiring

July 23, 1998 at 12:00 AM EDT
Raven Industries Names Thomas Iacarella As New CFO Effective Aug. 1; Arnold Thue, at Raven for 31 Years, is Retiring

SIOUX FALLS, S.D., July 23 /PRNewswire/ -- Raven Industries, Inc. (Nasdaq: RAVN) announced today that Arnold J. Thue, Vice President-Finance, will be retiring on Aug. 1 after 31 years of service with the company. Thue, a Certified Public Accountant (CPA), joined Raven Industries in 1967 when the company was a relatively small defense contractor. Since then, Raven has developed into a diversified manufacturer of commercial and industrial products in the electronics, plastics and sewn products markets.

"After 31 years of working closely together, we will very much miss Arnold," noted President and Chief Executive Officer David A. Christensen. "Arnold's contributions to the success of Raven have been enormous."

Thue's successor is Thomas Iacarella, employed as Controller of Raven Industries since November 1991. Iacarella previously was employed by the Tonka Corp. in Minneapolis for six years as Director of Accounting, and previously worked for the accounting firm Ernst and Young in Minneapolis for seven years. Iacarella, a CPA, received his bachelor's degree from St. John's University in Minnesota.

CEO Christensen commented that "Tom's energy and focus will continue to serve Raven well in his much expanded role at the company."