The Shyft Group Announces Segment Leadership Update

Jacob Farmer Appointed President of Fleet Vehicles and Services

NOVI, Mich., Jan. 09, 2024 (GLOBE NEWSWIRE) -- The Shyft Group (NASDAQ: SHYF) (“Shyft” or “the Company”), the North American leader in specialty vehicle manufacturing, announced that it has appointed Jacob Farmer as President of Fleet Vehicles and Services (FVS), effective today, reporting to John Dunn, President and CEO. In his new role, Farmer is responsible for FVS operations and implementing the business's strategic vision. Farmer previously served as President of Shyft’s Specialty Vehicles (SV) business.

“Since joining Shyft in July 2023, Jacob’s strong operational and people leadership has positioned SV for sustained growth and success,” said Dunn. “Given near term parcel market challenges, his strategic acumen and leadership will be pivotal in advancing our initiatives to improve FVS business performance.”

“Leading the SV team has been a rewarding experience, and I look forward to leveraging the strengths of both businesses to further enhance product quality, deepen customer relationships, and drive profitability in FVS,” said Farmer.

Before joining Shyft, Farmer served as President and CEO of Trialon Corporation and Global Vice President and General Manager of the Industrial & Specialty Group at Cooper Standard. He holds an Executive MBA from Michigan State University and a Bachelor of Science in Business from Indiana University.

About The Shyft Group

The Shyft Group is the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets. Our customers include first-to-last mile delivery companies across vocations, federal, state, and local government entities; the trades; and utility and infrastructure segments. The Shyft Group is organized into two core business units: Shyft Fleet Vehicles and Services and Shyft Specialty Vehicles. Today, its family of brands include Blue Arc EV Solutions, Utilimaster, Royal Truck Body, DuraMag and Magnum, Strobes-R-Us, Spartan RV Chassis, Red Diamond Aftermarket Solutions, and Builtmore Contract Manufacturing. The Shyft Group and its go-to-market brands are well known in their respective industries for quality, durability, and first-to-market innovation. The Company employs approximately 4,200 employees and contractors across campuses, and operates facilities in Arizona, California, Florida, Indiana, Maine, Michigan, Missouri, Pennsylvania, Tennessee, Texas, and Saltillo, Mexico. The Company reported sales of $1.0 billion in 2022. Learn more at TheShyftGroup.com.