Titan Machinery Inc. Announces CFO Transition Plan

WEST FARGO, ND, April 25, 2022 (GLOBE NEWSWIRE) — Titan Machinery Inc. TITN (“Titan Machinery” or the “Company”), a leading network of full-service farm and construction equipment shops, announced today that Chief Financial Officer, Mark Kalvoda, has announced his resignation, effective May 15. Mr. Kalvoda will remain in his current role as CFO to ensure a smooth and constructive transition to his successor. The Company will initiate a search process to find a suitable Chief Financial Officer to replace Mr. Kalvoda.

David Meyer, Titan Machinery’s Chairman and Chief Executive Officer, stated, “Mark’s financial leadership over the past 15 years has been invaluable. He was instrumental in building Titan Machinery’s world-class team and financial reporting infrastructure that will benefit us for years to come. Mark and I will work closely with the board to find a suitable successor and ensure a smooth transition. I thank Mark for his many years of contributions and wish him all the best in the next chapter of his life.”

Mr. Kalvoda commented, “It has been a great privilege to lead the finance organization at Titan Machinery and help lead the company to the record financial results we achieved in fiscal 2022. While there is never a perfect time to change CFOs, I am confident that our strong financial position and finance team at Titan will ensure a smooth transition. I would like to thank David, the leadership team and the many talented team members across the company for their support. I am fully committed to making this transition as smooth as possible and look forward to following Titan Machinery’s continued success.”

About Titan Machinery Inc.
Titan Machinery Inc. was founded in 1980 and is headquartered in West Fargo, North Dakota. It owns and operates a network of full-service agricultural and construction equipment dealerships throughout North America and Europe. The network consists of US locations in Iowa, Minnesota, Nebraska, North Dakota, South Dakota, Wisconsin and Wyoming and its European operations are in Bulgaria, Germany, Romania and Ukraine. Titan Machinery’s locations represent one or more of CNH Industrial’s brands, including Case IH, New Holland Agriculture, Case Construction, New Holland Construction and CNH Industrial Capital. For more information about Titan Machinery Inc., visit www.titanmachinery.com.

Investor Relations contact:
ICR, Inc.
jeff sonnek, jsonnek@icrinc.com.
executive Director
646-277-1263

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