- Mark Kalvoda Promoted to Chief Financial Officer

 - Peter Christianson to Continue as President/COO

 

Titan Machinery Inc. (NASDAQ:TITN) announced today that Mark Kalvoda, who had been serving as the Company's Chief Accounting Officer, has been promoted to Chief Financial Officer, effective immediately. Peter Christianson will continue in his role as President/COO and Director.

David Meyer, Titan Machinery's chairman and CEO, said, "We brought Mark into our company in 2007 with the goal of him becoming our CFO. His past experience with companies in the public reporting area combined with the excellent performance Mark has exhibited as Titan's chief accounting officer gives me the confidence in promoting him to this important CFO position.

“We want to thank Peter Christianson for the great job he has done as CFO and look forward to his continued focus on operations as president/COO. This announcement is in line with our ongoing long-term plan to attract high quality individuals to executive positions in our company," says Meyer.

Regarding his promotion, Kalvoda said, "Having been part of the Titan team and working closely with David and Peter for over three years, I am excited about leveraging my experience and look forward to serving in my new role as Chief Financial Officer and contributing to our future growth. I believe we are well positioned for long term growth in the agriculture and construction industries."

Kalvoda joined Titan Machinery in September 2007 as chief accounting officer. Prior to joining Titan, he held various positions between 2004 and 2007 at American Crystal Sugar Co., including corporate controller, assistant secretary and assistant treasurer. Prior to working for American Crystal Sugar Co., he served in various financial positions within Hormel Foods Corp.

About Titan Machinery Inc.

Titan Machinery Inc., founded in 1980 and headquartered in West Fargo, North Dakota, is a multi-unit business with mature locations and newly-acquired locations. The Company owns and operates a network of full service agricultural and construction equipment stores in the United States. The Titan Machinery network consists of 81 dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska and Wyoming, including two outlet stores, representing one or more of the CNH Brands (NYSE:CNH, a majority-owned subsidiary of Fiat Industrial (Milan: FI.MI)), including Case IH, New Holland Agriculture, Case Construction, New Holland Construction, Kobelco and CNH Capital. Additional information about Titan Machinery Inc. can be found at www.titanmachinery.com.