SECURITIES AND EXCHANGE COMMISSION
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PURSUANT TO SECTION 13 OR 15(d)
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Item 5.02 – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 12, 2020, the Board of Directors (the “Board”) of Carpenter Technology Corporation (the “Company”), upon the recommendation of its Corporate Governance Committee, appointed Ramin Younessi to the Board. Mr. Younessi was appointed to the Audit/Finance and Science & Technology Committees. Mr. Younessi is a Class I director, which means he will stand for re-election at the Company’s 2024 Annual Meeting of Stockholders.
The Board determined that Mr. Younessi qualifies as independent director under the director independence standards set forth in the rules and regulations of the Securities and Exchange Commission and the applicable listing standards of the New York Stock Exchange.
Mr. Younessi will be entitled to compensation under the Company’s compensation policy for non-employee directors. There are no arrangements or understandings between Mr. Younessi and any other person pursuant to which they were appointed as a director. There are no transactions in which Mr. Younessi has an interest requiring disclosure under Item 404(a) of Regulation S-K.
The full text of a press release issued in connection with Mr. Younessi’s appointments is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01 - Financial Statements and Exhibits
|99.1||Press Release, dated October 13, 2021|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|CARPENTER TECHNOLOGY CORPORATION|
|James D. Dee|
|Senior Vice President, General Counsel and Secretary|
|Date: October 14, 2021|
|Media Inquiries:||Investor Inquiries:|
|Heather Beardsley||The Plunkett Group|
|+1 610-208-2278||Brad Edwards|
RAMIN YOUNESSI JOINS CARPENTER TECHNOLOGYS BOARD OF DIRECTORS
PHILADELPHIA, Oct. 13, 2021 (GLOBE NEWSWIRE) Carpenter Technology Corporation (NYSE: CRS) announced today that Ramin Younessi, who has over thirty years of progressive, global business leadership in the industrial, commercial vehicle and engine industry, has been appointed to the Companys Board of Directors, effective immediately.
Mr. Younessi served as Group President, Construction Industries Group, of Caterpillar, Inc. before retiring in December 2020. As Group President of Caterpillars Construction Industries Group, he was responsible for Earthmoving, Excavation, Building Construction Products, China Operations and Global Construction & Infrastructure Divisions, Global Rental and Used Equipment Services, and Strategic Procurement. Mr. Younessi joined Caterpillar in 2013 and has also served as Caterpillars Group President of Energy & Transportation and Vice President of Industrial Power Systems. Prior to joining Caterpillar, Mr. Younessi held a number of senior executive positions at Daimler AG and Navistar Inc. In addition, Mr. Younessi has been a Senior Advisor to Madison Dearborn Partners (MDP), a leading private equity investment firm, and board member on several portfolio companies since 2013.
Mr. Younessi holds a bachelors degree in Electrical Engineering from Rochester Institute of Technology, a masters degree in Electrical Engineering from Syracuse University and a masters degree in Engineering Management from the University of Maryland. Mr. Younessi is a registered professional engineer in the state of Illinois and a member of SAE International.
We welcome Ramin to Carpenter Technologys Board of Directors. Ramin brings over 30 years of commercial vehicle and engine experience and we are confident that his technical, business and leadership acumen will be significant benefit to Carpenter Technology as we continue to expand our business and our highly engineered, high performance solutions portfolio across a range of end-use markets and applications, said Martin Inglis, Chairman of the Board of Directors.
About Carpenter Technology
Carpenter Technology Corporation is a recognized leader in high-performance specialty alloy-based materials and process solutions for critical applications in the aerospace, defense, transportation, energy, industrial, medical, and consumer electronics markets. Founded in 1889, Carpenter Technology has evolved to become a pioneer in premium specialty alloys, including titanium, nickel, and cobalt, as well as alloys specifically engineered for additive manufacturing (AM) processes and soft magnetics applications. Carpenter Technology has expanded its AM capabilities to provide a complete end-to-end solution to accelerate materials innovation and streamline parts production. More information about Carpenter Technology can be found at www.carpentertechnology.com.