Carpenter Technology Names Tony R. Thene to Serve as President and CEO
June 02 2015 - 7:07AM
Business Wire
Carpenter Technology Corporation (NYSE:CRS) today announced that
its Board of Directors has appointed Tony R. Thene as Carpenter’s
President, Chief Executive Officer (CEO) and member of the Board of
Directors, effective July 1, 2015. Thene succeeds Gregory A. Pratt
who will remain on the Board of Directors with additional
responsibilities as interim Executive Chairman of the Board. Thene
currently serves as Senior Vice President and Chief Financial
Officer of Carpenter Technology Corporation, where he has served
since January 31, 2013.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20150602006010/en/
Tony R. Thene (Photo: Business Wire)
“On behalf of the Carpenter Technology Board of Directors, I am
delighted to congratulate Tony as Carpenter’s next President and
CEO,” said Chairman Pratt. “After an exhaustive and far-reaching
search process, the Board unanimously concluded that Tony is the
candidate best suited to taking the Company to its next level of
growth and profitability. He brings to Carpenter an outstanding
record of accomplishment not only in his tenure here, but also
during his time in both operating and financial roles at his
previous companies. Tony has provided excellent leadership in our
efforts to return Carpenter to previous profit levels. His
involvement and commitment has resulted in recent improvements, and
his continued oversight will ensure we meet the aggressive targets
we have established. We are optimistic about Carpenter’s future
prospects under Tony’s leadership and look forward to working
closely with him.”
Tony Thene said, “I am honored to be selected to lead Carpenter
Technology Corp. and enthusiastic about the opportunities ahead for
accelerating the company’s growth. I look forward to working with
the Board of Directors, Carpenter’s employees, our shareholders,
and Carpenter’s customers around the world to capitalize on the
Company’s enormous potential and extend its proud record of
achievement and success.”
In his role as interim Executive Chair, Pratt will be
responsible for developing the overall corporate strategy, and in
conjunction with the President and Chief Executive Officer,
providing leadership and building consensus in the development of
Carpenter’s overall strategic plan, capital markets activities and
corporate development initiatives within the context of the
corporate strategy. “Serving Carpenter for the second time as
President and CEO over the past few months has been a great
pleasure and a highlight of my career. I again would like to thank
the Board, management team, and our employees around the world for
their hard work and support. Their efforts have been critical to
our many accomplishments and in setting the stage for even greater
future success. I look forward to assisting Tony and to ensure that
we continue to build on our current momentum while effecting a
smooth leadership transition.”
Tim Lain, who joined Carpenter in June, 2007 and is currently
Carpenter’s Vice President—Controller and Chief Accounting Officer,
will serve as acting Chief Financial Officer while a search is
underway. Lain has had progressively responsible roles in
Carpenter’s financial organization since joining the Company, and
he has prior experience as the Audit Director for McGladrey &
Pullen. He has a Bachelor’s in Accounting from the Fox School of
Business and Management at Temple University.
About Tony R. Thene
Tony R. Thene, 54, currently serves as Senior Vice President
& Chief Financial Officer for Carpenter Technology Corporation.
Thene joined Carpenter after 23 years with Alcoa Inc., where he
most recently served as the Chief Financial Officer for Alcoa’s
Engineered Products and Solutions (EPS) business. He was Vice
President & Controller for Alcoa and was responsible for all
corporate and business technical accounting matters, including
financial controls and all Securities Exchange Commission filings.
He earned his undergraduate degree in Accounting from Indiana State
University, Evansville, and his MBA from Case Western Reserve
University, Cleveland, Ohio. He is also a Certified Public
Accountant.
About Carpenter
Technology
Carpenter produces and distributes premium alloys, including
special alloys, titanium alloys and powder metals, as well as
stainless steels, alloy steels and tool steels. Information about
Carpenter can be found at http://www.cartech.com.
Forward-Looking
Statements
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on management’s current
expectations and are subject to risks, uncertainties and other
factors that could cause actual results to differ from those
projected, anticipated or implied. The most significant of these
uncertainties are described in Carpenter's filings with the
Securities and Exchange Commission including its annual report on
Form 10-K for the year ended June 30, 2014, Form 10-Q for the
quarters ended September 30, 2014, December 31, 2014, and March 31,
2015, and the exhibits attached to those filings. They include, but
are not limited to, statements regarding growth, profitability,
revenues, strategic goals, mix costs, and targeted financial
performance. Any of these factors could have an adverse and/or
fluctuating effect on Carpenter’s results of operations. The
forward-looking statements in this document are intended to be
subject to the safe harbor protection provided by Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Carpenter undertakes
no obligation to update or revise any forward-looking
statements.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150602006010/en/
Carpenter Technology CorporationMedia Inquiries:William J.
Rudolph Jr., +1 610-208-3892wrudolph@cartech.comorInvestor
Inquiries:Michael A. Hajost, +1 610-208-3476hajost@cartech.com
Carpenter Technology (NYSE:CRS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Carpenter Technology (NYSE:CRS)
Historical Stock Chart
From Apr 2023 to Apr 2024