Sioux Falls, SD—April 21, 2014—Raven Industries, Inc. (NASDAQ: RAVN) today announced that Chief Financial Officer Thomas Iacarella, 60, will be named the company’s Chief Risk Officer (CRO). The company has begun a search for a new CFO and Iacarella will remain in his position until a successor is named.<br /><br />“On behalf of the board and everyone at the company, I want to thank Tom for his 23 years of leadership, dedication, and contributions as CFO,” said Daniel A. Rykhus, Raven’s President and Chief Executive Officer. “Tom has played a significant role in the growth of Raven Industries—in terms of revenue, business evolution and helping build the infrastructure for a $400 million company. As he shifts to a new role, he leaves our finance function—and Raven—well positioned for the future.”<br /><br />Once his successor has been named, Iacarella will assume the position of CRO. In addition to ensuring a smooth financial leadership transition, Iacarella will focus on developing the company’s Enterprise Risk Management (ERM) strategy and supporting Raven’s active acquisition strategy. He will continue to report to Rykhus.<br /><br />“In his new role, Tom will remain a key member of our executive team and provide important leadership in establishing a durable risk management function. Having Tom serve in this capacity also will give us depth in a variety of potential situations ranging from due diligence and integration, to interim leadership of an acquired entity,” said Rykhus.<br /><br />Iacarella joined the company in 1991 as corporate controller and has been the company’s CFO since 1998. Prior to joining Raven, he held positions with Tonka Corporation and the accounting firm now known as EY. Iacarella is expected to remain in the CRO role for approximately two years until his planned retirement.<br /><br />Said Iacarella, “For more than two decades I’ve been blessed with the opportunity to provide financial leadership and guidance to a company that’s intensely committed to providing the world with more food and energy, protecting the environment and allowing people to live more safely. I look forward to assisting my successor with a smooth transition while maintaining our focus on profitable opportunities with strong fundamentals. And I look forward to the challenges my new position will bring.” <br /><br />Raven will conduct a thorough and extensive search to fill the CFO position.<br /><br />About Raven Industries, Inc.<br />Since 1956, Raven Industries has designed and manufactured high-quality, high-value technical products. Raven is publicly traded on NASDAQ (RAVN) and has earned an international reputation for innovation, product quality, high performance and unmatched service. With strengths in engineering, manufacturing, and technological innovation, Raven serves the precision agriculture, high performance specialty films, aerospace, and defense markets. Visit www.RavenInd.com for more information.