Arkansas Best names new board member, issues dividend

by The City Wire staff ( 3 views 

Janice Stipp, the executive vice president, chief financial officer and treasurer of Tecumseh Products Co., has been appointed to the board of directors for Fort Smith-based Arkansas Best Corp.

Stipp, 53, has been with Tecumseh since October 2011. The company is a global manufacturer of compressors and related products.

“Because of her years of experience in all areas of finance, as well as strategic and tactical planning, I am very pleased to have Janice Stipp join the Arkansas Best board. Because of Janice’s current role as the chief financial officer of a publicly traded company, I look forward to her valuable input and guidance,” Judy McReynolds, Arkansas Best president and CEO, said in the statement.

Prior to joining Tecumseh, Stipp served as CFO of Revstone Industries, a company that designs, engineers and manufactures components for use in the transportation and
heavy truck industries. Before that, she served four years as CFO and vice president of Acument Global Technologies Corp., a portfolio company of private equity firm Platinum Equity LLC.

Early in her career she spent 13 years at General Motors Co. as North America fuel systems finance director. She holds a bachelor’s degree in accounting from Michigan State University and a master’s degree in business administration from Wayne State University.

Stipp, who is a Certified Public Accountant, has been appointed to the Audit Committee of Arkansas Best’s board.

The board also announced Tuesday (Oct. 23) a three-cent dividend to be paid Nov. 20 to shareholders of record on Nov. 6.