Cavco Industries Appoints Steven W. Moster to Board of Directors

Experienced Public Company Chief Executive Officer Will Contribute Significant Strategic, Organizational, and Operational Expertise to Board

PHOENIX, Jan. 29, 2020 (GLOBE NEWSWIRE) -- Cavco Industries, Inc. (NASDAQ: CVCO) today announced that its Board of Directors (“Board”) appointed Steven W. Moster as an independent director of the Company’s Board, effective January 27, 2020. Steve is the President and Chief Executive Officer, and a member of the Board of Directors, of Viad Corp (NYSE: VVI), a position he has held since 2014. Viad Corp is a member of the S&P Small Cap 600 and is headquartered in Phoenix, Arizona.

With a market capitalization of approximately $1.4 billion, Viad operates through two business units: (1) GES (a global, full-service live events company offering a comprehensive range of services to the world’s leading brands and event organizers); and (2) Pursuit (a collection of inspiring and unforgettable travel experiences that includes world-class recreational attractions, unique hotels and lodges, food and beverage, retail, sightseeing and ground transportation services). Under Steve’s leadership, Viad has outperformed the Russell 2000 in Total Shareholder Return for each of the past five years.

This appointment brings the current membership of the Cavco Board to seven directors, six of whom are independent. Steve will also serve as the chair of the Company’s Compensation Committee and will replace Rich Kerley who has stepped down from his seat on the Compensation Committee.

“Steve is a superb addition to our Board,” commented Steve Bunger, non-executive Chairman of the Board of Cavco. Mr. Bunger added that, “Steve is a seasoned chief executive officer, leading a well-established public company. In his role with Viad, Steve’s strategic focus, operational execution and growth plan implementation have resulted in significant gains for Viad shareholders. We are very fortunate to have found a director such as Steve to add to our Board, and we are confident that he will be a valuable contributor to both Cavco and our Board.”

“I’m very excited that Cavco found a new director of the caliber of Steve to add as our seventh director,” added Bill Boor, President and Chief Executive Officer of Cavco and a member of the Cavco Board. “His experience and perspective will complement the strong Board we’ve been able to develop at Cavco. I also know that Steve will be a valuable resource to me given the similar roles that we hold at our respective companies and I’m really looking forward to working with him to continue Cavco’s success.”