Carpenter Tech CEO resigns; roles split
READING - Carpenter Technology Corp., a producer and distributor of specialty alloys, today announced the resignation of its chairman and chief executive, Anne L. Stevens, and said it plans to split the two roles into separate positions.
READING - Carpenter Technology Corp., a producer and distributor of specialty alloys, today announced the resignation of its chairman and chief executive, Anne L. Stevens, and said it plans to split the two roles into separate positions.
The company's board named Gregory A. Pratt to serve as chairman and interim CEO and president, replacing Stevens. The company is searching for a CEO to serve as Stevens' successor, after which Pratt will serve as non-executive chairman.
Pratt has been a company director since 2002.
Stevens, who has an engineering degree from Drexel University, joined the company in 2006, replacing Robert J. Torcolini, who had announced his retirement. She had held management positions at Ford Motor Co. for 16 years, leaving the company as executive vice president.
Carpenter said the decision to split the positions puts it in line with new trends in best practices for corporate governance and makes the company more accountable to shareholders.