Rob Mauritz Retirement Announcement

Dear LBS Community,

Today, I announce my retirement as President & CEO of LBS, effective July 3, 2024. Serving as
a leader at LBS has been an incredible honor, and I am immensely proud of what we have
achieved together. To ensure a smooth leadership transition, I will assume the role of Strategic
Advisor one month before my departure, when my successor, Dan Nibe, joins the company on
June 3 as President and CEO. Following that, I will continue in a consulting role as needed to
support Dan and the entire company.

During my tenure, we successfully navigated the challenges posed by the COVID-19 pandemic,
ensuring the safety of LBS employees while steadfastly driving revenue growth. Our strategic
acquisitions of competitors Gane Brothers & Lane as well as Cover Material Sales further
solidified LBS's position in the industry. Together, we transformed LBS from a library binding
supplier to a comprehensive provider of materials to major book manufacturers.

As a 100% employee-owned company, being named the 2023 Employee Owned Company of
the Year by the Iowa/Nebraska Chapter of The ESOP Association was a great honor.
Celebrating LBS's 100-year anniversary in 2021 was a testament to our employees' dedication
to excellence.

While my departure marks the end of an era, I am thrilled to announce the appointment of Dan
Nibe as the new President & CEO of LBS, effective June 3. Dan brings a wealth of experience
and a proven track record of success. As the former Chief Operating Officer at the Wittern
Group in West Des Moines, Iowa, Dan provided strategic leadership across various operational
domains in a multi-site manufacturing facility.

During his tenure, Dan spearheaded operational excellence initiatives that significantly improved
quality, efficiency, and customer satisfaction. His leadership was instrumental in driving
explosive growth and propelling continuous improvements across all facets of operations.
Recently, Dan completed integrating the Entrepreneurial Operating System to all levels of the
Wittern Group, bringing clarity to the business as it currently operates, and setting the direction
of the business for the next 10 years.

I am confident that under Dan's leadership, LBS will continue to provide the exceptional service
and quality you have come to expect. His extensive experience and strategic vision, combined
with the support of our existing leadership team and dedicated employees, will drive LBS into its
next phase of growth and innovation. LBS’s unwavering commitment to excellence and
customer-centric approach will remain the cornerstone of the business.

Thank you for your continued support over the past 30+ years. It has been a great pleasure to
work with all of you.

Sincerely,
Rob Mauritz

President & CEO (Retiring),
LBS

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