Gorman-Rupp Announces New Chairman, Independent Director and Chief Operating Officer

MANSFIELD, Ohio–(BUSINESS WIRE)–The Gorman-Rupp Company (NYSE: GRC) announced today that its Board of
Directors has appointed Jeffrey S. Gorman, President and CEO, to serve
as Chairman of the Board. As previously announced, James C. Gorman, the
Company’s long-standing Chairman, informed the Board this past January
of his intention to not stand for re-election as a Director at the
Company’s 2019 Annual Meeting of Shareholders.

“Gorman-Rupp has benefited greatly over many years from James C.
Gorman’s leadership and deep experience as Chairman,” said M. Ann
Harlan, Lead Independent Director of the Gorman-Rupp Board. “The
decision to elect Jeff as Chairman reflects the Board’s confidence in
his leadership and ability to execute our vision and strategies to take
Gorman-Rupp into the future.”

James C. Gorman, son of J.C. Gorman, co-founder of the Company, leaves
the Board after serving as a Director of the Company since 1946 and as
Chairman since 1989. He served as the Company’s President from 1964
until 1989 and as Chief Executive Officer from 1964 until 1996 and was
instrumental in the Company’s development and growth over that time. Mr.
Gorman plans to continue his involvement with the Company as Honorary
Chairman.

“I believe deeply in Gorman-Rupp and its people, and it has been an
honor to serve as Chairman,” Mr. James C. Gorman said. “As I conclude my
work as Chairman, I do so knowing that Jeff will serve as Chairman with
the same skill and commitment that he has applied to his leadership of
the Company as President and CEO for the past 20 years.”

Also as previously announced, W. Wayne Walston notified the Company this
past January that he would not stand for re-election as a Director at
the Company’s 2019 Annual Meeting of Shareholders. Mr. Walston has
served as a Director of the Company since 1999.

Ms. Harlan added, “Our entire Board thanks Wayne for his outstanding
service to the Board and Company for the past 19 years, including as a
past Chair of the Compensation Committee, and we wish him the very best
in his retirement.”

At the Annual Meeting of the Shareholders of The Gorman-Rupp Company
held April 25, 2019, Sonja K. McClelland was elected to the Board of
Directors. Ms. McClelland, age 47, is Executive Vice President,
Secretary, Treasurer and Chief Financial Officer of Hurco Companies,
Inc., a publicly-traded international industrial technology company that
designs, manufactures and sells computerized machine tools. Ms.
McClelland has worked for Hurco in various finance and accounting roles
since September 1996 and was previously employed by an international
public accounting firm. Ms. McClelland will serve on the Audit Committee
and the Compensation Committee of the Board of Directors.

Jeffrey S. Gorman, Chairman, President and CEO commented, “We are
delighted that Ms. McClelland is joining our Board. Her public-company
experience and deep knowledge of manufacturing operations and finance
will add important insight to our Board.”

The Company has promoted Scott A. King to Vice President and Chief
Operating Officer. In this newly created position, Mr. King will be
responsible for operational and financial oversight of all of
Gorman-Rupp’s divisions and subsidiaries. Mr. King has been with
Gorman-Rupp since 2004 and held various operational management roles,
most recently serving as Vice President of Operations since March 2018.

About The Gorman-Rupp Company
Founded in 1933, The Gorman-Rupp
Company is a leading designer, manufacturer and international marketer
of pumps and pump systems for use in diverse water, wastewater,
construction, dewatering, industrial, petroleum, original equipment,
agriculture, fire protection, heating, ventilating and air conditioning
(HVAC), military and other liquid-handling applications.

Forward-Looking Statements
In connection with the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995, The
Gorman-Rupp Company provides the following cautionary statement: This
news release contains various forward-looking statements based on
assumptions concerning The Gorman-Rupp Company’s operations, future
results and prospects. These forward-looking statements are based on
current expectations about important economic, political, and
technological factors, among others, and are subject to risks and
uncertainties, which could cause the actual results or events to differ
materially from those set forth in or implied by the forward-looking
statements and related assumptions. Such factors include, but are not
limited to: (1) continuation of the current and projected future
business environment; (2) highly competitive markets; (3) availability
and costs of raw materials; (4) loss of key management; (5) cyber
security threats; (6) acquisition performance and integration; (7)
compliance with, and costs related to, a variety of import and export
laws and regulations; (8) environmental compliance costs and
liabilities; (9) exposure to fluctuations in foreign currency exchange
rates; (10) conditions in foreign countries in which The Gorman-Rupp
Company conducts business; (11) changes in our tax rates and exposure to
additional income tax liabilities; (12) impairment in the value of
intangible assets, including goodwill; (13) defined benefit pension plan
settlement expense; (14) family ownership of common equity; and (15)
risks described from time to time in our reports filed with the
Securities and Exchange Commission. Except to the extent required by
law, we do not undertake and specifically decline any obligation to
review or update any forward-looking statements or to publicly announce
the results of any revisions to any of such statements to reflect future
events or developments or otherwise.

For additional information, contact James C. Kerr, Chief Financial
Officer, Telephone (419) 755-1548.

Contacts

Brigette A. Burnell
Corporate Secretary
The Gorman-Rupp Company
Telephone
(419) 755-1246
NYSE: GRC

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