DOW JONES NEWSWIRES
Idex Corp. (IEX) said Chief Executive Larry Kingsley will leave
to head Pall Corp. (PLL) as the diversified manufacturer named Vice
President Andrew Silvernail to succeed him.
Silvernail joined Idex in January 2009 and most recently led its
health and science, fire and safety and dispensing segments, which
together make up more than half of the company's annual revenue. He
previously worked at Newell Rubbermaid Inc. (NWL) and Danaher Corp.
(DHR), among other companies.
Idex has seen earnings climb on higher sales and rebounding
orders in recent quarters amid global economic improvement. The
company makes industrial pumps and valves as well as products such
as the Jaws of Life rescue equipment used to extricate victims from
small spaces such as wrecked cars.
Kingsley, meanwhile, left to head Pall, a maker of filtration
and purification products that serves sectors including medicine,
energy, electronics and municipal water. As CEO of Pall, Kingsley
will succeed Eric Krasnoff, who earlier this year announced plans
to retire.
Kingsley said he will remain chairman of Idex's board of
directors through the end of the year to help ease an orderly
transition.
Idex shares closed at $34.38 Monday and were inactive in
after-hours trading. The stock is up 4.5% over the past 12
months.
Pall shares closed at $71.38 and were inactive after hours. The
stock has jumped 46% over the past year.
-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909;
Andrew.FitzGerald@dowjones.com