In addition, to further strengthen its accounting and finance team, Global Power Equipment Group Inc. has announced that Mark F. Jolly has joined Global Power as Vice President Finance. Upon completion of the restatement process, Mr. Jolly will become Chief Accounting Officer and principal accounting officer. Concurrently, and as previously announced, Craig E. Holmes, who is serving as Senior Vice President of Finance, will assume the role of Chief Financial Officer and principal financial officer.

Timothy Howsman, currently the Company's principal financial officer and Products Division Chief Financial Officer, has advised the Company he plans to retire upon completion of the restatement process. Mr. Jolly brings nearly 35 years of experience in accounting and finance with industrial companies. He most recently was Controller and principal accounting officer with the Vought Aircraft Division of Triumph Group Inc.