AM General's new CEO has strong military roots

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AM General has a new president and chief executive officer. Current CEO Charlie Hall is retiring from the company. In his place, the defense and automotive manufacturer has named industry veteran Andy Hove.

Though primarily a defense contractor, AM General has produced a number of civilian vehicles as well. The company is perhaps best known for the Hummer (or Humvee in military parlance) and continued producing both the original H1 and the subsequent H2 after selling the brand to General Motors. Even after GM shut down the brand, AM General continued producing Humvees for military use and as a civilian kit. The company is also behind Mobility Ventures, which produces purpose-built wheelchair-accessible vehicles, assembles the R-Class for Mercedes-Benz, and has been linked to potential commercial van and pickup truck assembly for GM as well.

Based in South Bend, IN, AM General shares its roots with the Jeep brand. It was split off from American Motors Corporation after the latter was bought by Renault and then by Chrysler. Today it's owned by New York-based investment firms Renco Group and MacAndrews & Forbes.

A former Army officer, Hove arrives at the company with considerable experience in the defense industry, particularly in vehicle manufacturing. He has previously served as president of HDT Global and before that of Oshkosh Defense. Prior to that he headed up the Bradley tank program for BAE Systems, where he increased sales from $250 million to $2 billion within five years. His departing predecessor Charlie Hall was named CEO in 2011, assuming day-to-day responsibility for the company's operations from the suitably named chairman James Armour.

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AM General Announces Vehicle Manufacturing Industry Leader Andy Hove To Serve As Chief Executive Officer
Hove Succeeds Retiring CEO Charlie Hall

SOUTH BEND, Ind., Dec 8, 2015 – AM General, the global leader in light tactical vehicles, today announced that Andy Hove will serve as the company's new Chief Executive Officer and President, succeeding Charlie Hall who is retiring.

Hove brings to AM General a track record of excellence at a diverse array of defense and commercial companies in the United States and around the world. Hove most recently served as the President and CEO of HDT Global where he rapidly proved the quality of his leadership in helping transform the company. Hove also served as President of Oshkosh Defense, where he led a team of over 3,000 employees, secured long-term multi-billion dollar military vehicle programs (including programs such as FMTV and M-ATV), established innovative international defense sales platforms, and dramatically increased company revenue. At BAE, Hove headed the Bradley Combat Systems program during its time of transition successfully growing sales from $250 million in 2003 to $2 billion by 2007. Hove also served as an Army Officer and Foreign Area Officer for over ten years both in the U.S. and overseas.

Retiring AM General CEO Charlie Hall commented, "It has been a privilege to lead this extraordinary company and its world class defense and commercial teams during a period of such exciting transformation. When I first joined the company five years ago we sought to fortify the HMMWV brand, grow international sales, and diversify our commercial vehicle business. I can confidently say I leave the company having exceeded our initial goals. Our HMMWV sets the global standard for light tactical vehicles and I am so pleased that it will continue to serve as the backbone of fleets for the United States military, the National Guard, and fighting forces around the world for decades to come. " Hall continued, "I have known and respected Andy for years. With his deep experience in the vehicle manufacturing industry both in the United States and internationally, I cannot think of a better executive to take the helm at AM General during this exciting time of continued growth. I wish him and the entire AM General team the best."

AM General is the world leader in the design, production, and support of specialized vehicles for both military and commercial use, most notably the High Mobility Multi-Purpose Wheeled Vehicle (HMMWV or "Humvee"). With over 230,000 HMMWVs currently fulfilling the role as the backbone of tactical missions around the world, AM General plays a vital role in delivering new and affordable solutions to ensure these vehicles remain mission ready. The Army and Marine Corps have repeatedly emphasized the need to modernize and maintain the more than 160,000 HMMWVs in their service and ensure the vehicle can continue to meet the capability requirements of future missions through at least 2050.

AM General's commercial vehicle manufacturing business includes its wholly owned subsidiary, Mobility Ventures, designer and manufacturer of the acclaimed MV-1, the only American made vehicle specifically engineered from the ground up in support of wheelchair users and people with disabilities. AM General is proud to have been selected by Mercedes-Benz to be its only contract manufacturer in the United States, producing the R-Class vehicle in Mishawaka, Indiana.

"I want to thank Charlie Hall for his extraordinary leadership of AM General. Charlie's relentless focus on innovation has been matched only by his commitment to customer relationships based on the trust that AM General earned throughout the defense and commercial industries. We wish him the best in retirement. We are so pleased to welcome Andy to AM General and know that his deep experience in vehicle manufacturing and international business will serve our company well for many years to come," said Ronald O. Perelman, Chairman and Chief Executive Officer of MacAndrews & Forbes Incorporated.

"I am excited to join AM General as it continues to lead our industry with its agile and iconic products and its unparalleled workforce," Hove said. "In particular, the HMMWV has so much to offer our domestic and international military customers. I look forward to leading these critical modernization programs, growing our unique commercial assembly business, and continuing Charlie Hall's commitment to quality, reliability, and innovation."

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