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Tennant Corp. appoints General Mills executive as new CFO

November 28, 2018

Floor cleaning-machine maker Tennant Co. has tapped a General Mills executive to serve as its new chief financial officer, officials announced Wednesday.

Keith Woodward will become Tennant’s new CFO and senior vice president effective Saturday. He succeeds Tom Paulson, who retired earlier this year.

“With his depth of experience, we look to Keith to continue to drive our growth and profitability,” said Tennant CEO and President Chris Killingstad in a statement.

In his new post, Woodward will report to Killingstad and will be located at Tennant’s headquarters in Golden Valley.

Woodward joins Tennant after serving 26 years at General Mills in various roles, including senior vice president, global treasurer, senior vice president of finance and head of the U.S. retail division.

Woodward earned an undergraduate and MBA from Indiana University. He currently sits on the boards of Seneca Foods Corp. and Phillips Distilling Co.

Tennant manufacturers a wide range of machines, equipment and supplies that clean floors and streets.

Last month, the company raised its forecast for the year, saying it now expects 2018 sales to rise 11 or 12 percent and reach $1.115 billion to $1.125 billion. Adjusted earnings are expected to reach between $2.05 and $2.15 per share.

Most recently, the company reported seeing strong demand for its products across North America and Asia even as it battles rising raw material, freight and tariff costs.

Dee DePass • 612-673-7725

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