Carpenter Technology Corporation has 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. 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.
“On behalf of the Carpenter Technology Board of Directors, I am delighted to congratulate Tony as Carpenter’s next President and CEO,” stated 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.”
Thene stated, “I am honoured 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.”