WYOMISSING, Pa.--(BUSINESS WIRE)--Nov. 14, 2014--
Carpenter Technology Corporation’s (NYSE: CRS) Board of Directors today
announced that Gregory A. Pratt will return as CEO of the Company,
effective immediately. Mr. Pratt was Carpenter's CEO in 2009 - 2010, and
has been a Board member since 2002. Pratt will also continue as the
Chairperson of Carpenter’s Board, a position he has held since 2009.
During his tenure as Chairperson, Carpenter has made numerous
investments in its business, acquired Amega West and Latrobe Specialty
Metals, and built Carpenter’s new Athens facility.
Pratt has a distinguished career in metals, materials, and information
technology serving as CEO of both Carpenter Technology and OAO
Technology Solutions. Mr. Pratt received a Bachelor of Science in
business administration from Cheyney University and a Masters of
Business Administration from the Wharton School at the University of
Pennsylvania.
Pratt replaces Bill Wulfsohn as CEO, who resigned today to take another
role outside of the Company. To ensure continuity, while Wulfsohn will
step down from the CEO role and Board of Directors immediately, he will
assist the Company in a transition support role until December 31, 2014.
“It has been a pleasure to work with Bill. Together, we have
accomplished a great deal,” said Pratt. “We wish Bill well in his next
endeavors and thank him for his outstanding leadership and service to
Carpenter.”
About Carpenter Technology
Carpenter produces and distributes premium alloys, including special
alloys, titanium alloys and powder metals, as well as stainless steels,
alloy steels and tool steels. Information about Carpenter can be found
at http://www.cartech.com.
Forward-Looking Statements
This news release forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on management’s current
expectations and are subject to risks, uncertainties and other factors
that could cause actual results to differ from those projected,
anticipated or implied. The most significant of these uncertainties are
described in Carpenter's filings with the Securities and Exchange
Commission including its annual report on Form 10-K for the year ended
June 30, 2014, 10Q for the quarter ended September 30, 2014, and the
exhibits attached to those filings. They include, but are not limited
to, statements regarding growth, profitability, revenues, strategic
goals, mix costs, and targeted financial performance. Any of these
factors could have an adverse and/or fluctuating effect on Carpenter’s
results of operations. The forward-looking statements in this document
are intended to be subject to the safe harbor protection provided by
Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended. Carpenter undertakes
no obligation to update or revise any forward-looking statements.
Source: Carpenter Technology Corporation
Carpenter Technology Corporation
Media Inquiries:
William J.
Rudolph Jr., 610-208-3892
wrudolph@cartech.com
or
Investor
Inquiries:
Michael A. Hajost, 610-208-3476
mhajost@cartech.com