Business

Oshkosh says Donnelly is new board chairman

Posted January 31, 2011 10:00 pm

Associated Press

OSHKOSH, Wis. — Specialty vehicle maker Oshkosh Corp. said Tuesday that Richard Donnelly has replaced Robert Bohn as its board chairman as part of its long-range succession plan.

Donnelly has been a board member since 2001.

At its annual meeting on Tuesday shareholders elected 11 board members to one-year terms. New board member William Scott Wallace is a retired U.S. Army general.

Stockholders also ratified Deloitte and Touche as independent auditors for the current fiscal year and approved two resolutions related to executive compensation.

On Friday Oshkosh reported that its fiscal 2011 first-quarter earnings fell 41 percent mostly due to lower vehicle sales as it completed a huge defense contract.

Shares of the Oshkosh, Wis. Company gained 71 cents to $38.62 in afternoon trading.

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