Sturm, Ruger Announces Appointment of Steven M. Maynard to Vice President of Lean Business Development

Sturm, Ruger & Company, Inc. (NYSE-RGR) is pleased to announce that at their April 24th meeting, the Board of Directors elected Steven M. Maynard to serve as Vice President of Lean Business Development, effective immediately. He will be responsible for facilitating the implementation of the Ruger Business System, comprised of enterprise-wide lean business practices and processes for sustained organic growth.

Steve Maynard graduated with a BSME from Worcester Polytechnic Institute and holds an MBA from Rensselaer Polytechnic Institute in Hartford, CT. Steve is a senior-level executive who is experienced with developing, leading, and executing successful business strategies, including Lean system transformations and the coordination of R&D efforts enterprise-wide. Prior to coming to Sturm, Ruger, he was Vice President of Engineering and Chief Information Officer (CIO) for the Wiremold Company. He was responsible for driving new product development using the Wiremold Product Development System including the Quality Function Deployment (QFD) methodology, with cross-functional, co-located teams. As CIO, Steve led the implementation of a company-wide system to support the new lean business environment. He also assisted in the due diligence process on many of the company's 23 acquisitions over a ten year period.

"We look forward to utilizing Steve's keen insight in driving the development of the world-class Ruger Business System, focused on operational excellence and growth," said Sturm, Ruger CEO Michael O. Fifer. "Steve will be involved in developing a new product engine, implementing strategy deployment for the Company, and coaching us through the lean business transformation."