TH2 Joint Venture Names Daniel Hest CEO
by Togo RV, on Jan 24, 2019 6:45:00 AM
CINCINNATI, Jan. 24, 2019 /PRNewswire/ -- TH2, a joint venture between Thor Industries (NYSE: THO) and Tourism Holdings Limited, today announced that it has named travel industry veteran Daniel Hest as its new CEO, succeeding Bob Wheeler who will return to focus on his role as President of Airstream, Inc. In his new role, Mr. Hest will be responsible for leading TH2 into the next phase of its growth and development.
"We are pleased to welcome Danny Hest as TH2's new CEO. Danny brings great experience in digital platforms in the travel and reservation space," said Bob Wheeler, TH2 CEO. "With the successful launch of our Togo app last fall, TH2 is poised for the next phase in its growth. Hiring a talented executive like Danny, with his successful track record of growing platform businesses, is an essential step as we work to enhance the RV ownership experience through digital means."
Grant Webster, Chief Executive Officer at Tourism Holdings Limited, noted "We have been very fortunate to have Bob kick off TH2 and reach the early milestones. We are well positioned now to have Danny leverage the work done to date and grow the business with the high caliber executive team we have across the globe in TH2."
Mr. Hest will assume his role effective February 4, 2019 and will be based in Chicago. Prior to joining TH2, Hest was the Senior Vice President and General Manager, Expedia Global Partner Solutions, at Expedia Group in Chicago. Previously, he was Vice President, Americas Business Development and Global Product Marketing at Orbitz Worldwide, a subsidiary of Expedia Group. Mr. Hest holds an undergraduate degree in Communication from Cornell University and an MBA from the S.C. Johnson School of Management at Cornell University.
Mr. Hest commented, "I am excited to lead such an innovative and aspirational venture as TH2. Having spent the past decade of my career building digital platform businesses in the travel and leisure space, I see great potential to transform the RV ownership experience with greater ease of use coupled with enhanced product and service offerings from valued partners."
Bob Wheeler added, "TH2 has generated considerable success with the launch of Togo, and we have set our sights higher as we look to expand globally. With that in mind, we saw a need to strengthen our leadership team and Danny is the right person with the experience, talent and network to help TH2 advance to the next level. Looking at the success he achieved at Expedia Group, we are confident in Danny's ability to replicate that success and help us achieve our long-term vision for TH2."
TH2 is a joint venture of Thor Industries, Inc., the world's largest manufacturer of recreational vehicles and Tourism Holdings, Ltd. (thl), the world's largest RV rental and sales operator. It serves to bring the full benefit of digital connectivity and the sharing economy to RV owners around the world. Focused on enhancing enjoyment and safety of RV enthusiasts, this innovative and comprehensive platform will improve every aspect of RV ownership. TH2 launched the first edition of Togo, an RV owner's best friend and mobile companion on the road of RV ownership, in September 2018. Initial capabilities include the ability to track maintenance, keep service records and contacts handy, as well as set custom notifications and access helpful travel checklists. Eventually, the app will offer trip planning, campsite booking, roadside assistance and more. For more information, please see the company's website at: https://th2.com/.
About Thor Industries, Inc.
Thor is the sole owner of operating subsidiaries that, combined, represent the world's largest manufacturer of recreational vehicles. For more information on the Company and its products, please go to https://www.thorindustries.com.
About Tourism Holdings Limited (thl)
thl is the largest provider of RVs for rent and sale globally and New Zealand's premier tourism company, owning and operating RV rental and sale brands and centers in Australia, New Zealand, the UK, and the US. For more information, visit: http://www.thlonline.com/.
Forward Looking Statements
This release includes certain statements that are "forward looking" statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward looking statements are made based on management's current expectations and beliefs regarding future and anticipated developments and their effects upon Thor, and inherently involve uncertainties and risks. These forward looking statements are not a guarantee of future performance. We cannot assure you that actual results will not differ materially from our expectations. Factors which could cause materially different results include, among others, raw material and commodity price fluctuations; raw material, commodity or chassis supply restrictions; the impact of tariffs on material or other input costs; the level and magnitude of warranty claims incurred; legislative, regulatory and tax law and/or policy developments including their potential impact on our dealers and their retail customers or on our suppliers; the costs of compliance with governmental regulation; legal and compliance issues including those that may arise in conjunction with recently completed or announced transactions; lower consumer confidence and the level of discretionary consumer spending; interest rate fluctuations; the potential impact of interest rate fluctuations on the general economy and specifically on our dealers and consumers; restrictive lending practices; management changes; the success of new and existing products and services; consumer preferences; the ability to efficiently utilize production facilities; the pace of acquisitions and the successful closing, integration and financial impact thereof; the potential loss of existing customers of acquisitions; our ability to retain key management personnel of acquired companies; a shortage of necessary personnel for production; the loss or reduction of sales to key dealers; disruption of the delivery of units to dealers; increasing costs for freight and transportation; asset impairment charges; cost structure changes; competition; the impact of potential losses under repurchase agreements; the potential impact of the strength of the U.S. dollar on international demand; general economic, market and political conditions; and changes to investment and capital allocation strategies or other facets of our strategic plan. Additional risks and uncertainties surrounding the acquisition of Erwin Hymer Group SE (the "Erwin Hymer Group") include risks regarding the anticipated timing of the closing of the acquisition, the potential benefits of the proposed acquisition and the anticipated operating synergies, the satisfaction of the conditions to closing the acquisition in the anticipated timeframe or at all, the integration of the business, changes in Euro-U.S. dollar exchange rates that could impact the mark-to-market value of outstanding derivative instruments, the impact of exchange rate fluctuations and unknown or understated liabilities related to the acquisition and Erwin Hymer Group's business. These and other risks and uncertainties are discussed more fully in Item 1A of our Annual Report on Form 10-K for the year ended July 31, 2018 and Part II, Item 1A of our quarterly report on Form 10-Q for the period ended October 31, 2018.
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Vice President of Investor Relations