Actuant Names Randal W. Baker President and Chief Executive Officer
March 01 2016 - 08:00AM
Business Wire
Actuant Corporation’s (NYSE:ATU) Board of Directors announced
that Randal W. Baker has been named President and Chief Executive
Officer of the Company effective immediately. Mr. Baker has also
been appointed to the Board of Directors. Effective with this
transition, Actuant’s Board of Directors has appointed an
independent director, Robert A. Peterson, as Actuant’s Chairman of
the Board, replacing Robert C. Arzbaecher who will remain a member
of the Board. Mr. Peterson has been on the Actuant Board of
Directors since 2003, and has been Actuant’s lead independent
director since 2015.
“We are excited to welcome Randy to Actuant,” commented
Peterson. “He brings a wealth of experience from a variety of
leadership roles in multiple industrial companies with revenues and
complexity greater than Actuant. His demonstrated success in
driving new product development and strong organic growth, along
with superior customer and global market knowledge, was a
differentiator to Actuant’s CEO search committee. He is a proven,
results-oriented leader with the strategic, operational and talent
development skills required to inspire the organization and deliver
shareholder value.”
Mr. Baker has nearly 30 years of industrial experience,
including serving in numerous executive roles of increasing
responsibility and depth. From 2009 to 2015 he was with Joy Global,
Inc.(“Joy”), most recently as Chief Operating Officer. Prior to
Joy, Mr. Baker was an executive with Case New Holland (“CNH”) from
2004 to 2009, holding a variety of roles including President and
CEO of their agriculture equipment business. Prior to CNH, Mr.
Baker had diverse leadership roles at Komatsu America Corporation,
Ingersoll-Rand, and Sandvik Corporation.
“Actuant is a great industrial company with outstanding
diversity, market-leading brands and technologies as well as deep
and long-standing customer relationships,” stated Baker. “I am
humbled to be given the opportunity to lead it going forward and to
help deliver superior results for stakeholders.”
Mr. Peterson continued, “The Board of Directors would like to
thank Bob Arzbaecher for assuming the role of interim CEO and for
the leadership he provided during the last six months. His company
knowledge and steady hand allowed the Board of Directors to
confidently focus on a robust CEO search process without time
pressure. The Board of Directors also determined this CEO
transition was the opportune time to appoint an independent
director as Chairman of the Board. Bob’s leadership and involvement
in Actuant since its creation in 2000 has created substantial
shareholder value, and we look forward to his continued counsel and
leadership as a director.”
About Actuant
Actuant Corporation is a diversified industrial company serving
customers from operations in more than 30 countries. The Actuant
businesses are leaders in a broad array of niche markets including
branded hydraulic tools and solutions, specialized products and
services for energy markets and highly engineered position and
motion control systems. The Company was founded in 1910 and is
headquartered in Menomonee Falls, Wisconsin. Actuant trades on the
NYSE under the symbol ATU. For further information on Actuant and
its businesses, visit the Company's website at www.actuant.com.
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Actuant CorporationKaren BauerCommunications & Investor
Relations Leader262-293-1562
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