Summary
Carpenter Technology Corporation (CRS) filed a Form 8-K on May 3, 2007, to report a significant executive change. M. David Kornblatt, Senior Vice President, Finance and Chief Financial Officer, is resigning his position, effective May 7, 2007, to pursue another opportunity. This departure represents a key leadership transition for the company. In response to Mr. Kornblatt's resignation, Carpenter Technology has appointed Richard L. Simons, currently Vice President and Controller, as the acting Chief Financial Officer. Mr. Simons, with prior CFO experience at Hardinge, Inc., will lead the finance department while the company conducts a search for a permanent replacement. Investors should monitor the search process and the impact of this leadership change on the company's financial strategy and performance.
Key Highlights
- 1M. David Kornblatt is resigning as Senior Vice President, Finance and Chief Financial Officer, effective May 7, 2007.
- 2Mr. Kornblatt is leaving to accept a CFO position at another company.
- 3Richard L. Simons, Vice President and Controller, has been appointed as acting Chief Financial Officer.
- 4Mr. Simons' appointment is pending a search for a permanent CFO.
- 5Mr. Simons has prior CFO experience, having served as EVP and CFO of Hardinge, Inc. from 2000-2005.
- 6There are no changes to Mr. Simons' current compensation due to his interim appointment.