Carpenter Names Draeger Chairman, President & CEO.Business Editors WYOMISSING, Pa.--(BUSINESS WIRE)--Feb. 12, 2001 The Board of Directors of Carpenter Technology Corp. (NYSE NYSE See: New York Stock Exchange :CRS) announced today that Dennis M. Draeger, president, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. (COO) and a director of Carpenter, would become chairman, president and chief executive officer on July 1. Draeger, 60, will replace Robert W. Cardy, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , who is retiring June 30 after 39 years of service. Draeger joined Carpenter in 1996 as senior vice president of the company's largest business unit, Specialty Alloys Operations. He became president, COO and director of the engineered materials company in 1999. Previously Draeger had worked 34 years for Armstrong World Industries Armstrong World Industries, Inc. is an international designer and manufacturer of floors, ceilings and cabinets. Based in Lancaster, Pennsylvania, Armstrong operates 39 plants in 10 countries and has approximately 13,000 employees worldwide. , lastly as president of Worldwide Floor Products Operations. He originally joined Carpenter's Board of Directors in 1992, while at Armstrong. Draeger holds a bachelor's degree in business administration from Ohio State University Ohio State University, main campus at Columbus; land-grant and state supported; coeducational; chartered 1870, opened 1873 as Ohio Agricultural and Mechanical College, renamed 1878. There are also campuses at Lima, Mansfield, Marion, and Newark. . Carpenter, based in Wyomissing, Pa., is a leading manufacturer and distributor of stainless steel, specialty alloys, titanium and various engineered products. Carpenter had sales of $1.1 billion in fiscal 2000 (ended June 30, 2000). More information about Carpenter is available at www.cartech.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion