Carpenter Technology Announces New Leadership
10/13/2009 - The company formally splits the roles of Chairman and Chief Executive Officer into two positions. The Board of Directors appoints Gregory A. Pratt to serve as chair of the Board and interim CEO and President.
Carpenter Technology Corp. has decided to formally split the roles of Chairman and Chief Executive Officer into two positions. The Board of Directors appointed Gregory A. Pratt to serve as chair of the Board and interim CEO and President, replacing Anne L. Stevens in those positions.
Carpenter is currently conducting a search for a CEO to serve as Stevens' successor, after which Pratt will serve as non-executive chair.
"This decision aligns Carpenter with emerging trends in best practices for corporate governance of public companies and accountability to shareholders," said Pratt. "After three years of positive contributions, Anne Stevens has announced her decision to resign. We thank Anne for her service to the company. The new CEO will focus on bringing our innovative new technologies and alloys to our customers."
Pratt has been a company director since 2002. He has recently served as the chairman of the Audit/Finance Committee as well as the company's Lead Independent Director.
Carpenter is a leading international producer and distributor of specialty alloys including stainless steels, titanium alloys, superalloys, specialty tool and die steels, and powder products. Carpenter provides materials solutions for extreme challenges in the aerospace, industrial, medical, energy, automotive, and consumer sectors.
