8-KLeadership ChangesExhibits & Filings

CARPENTER TECHNOLOGY CORP 8-K Report, Executive Changes (Nov 17, 2014)

Filed November 17, 2014For Securities:CRS

Summary

This Form 8-K filing by Carpenter Technology Corporation (CRS) on November 17, 2014, announces a significant leadership change. Effective November 14, 2014, William A. Wulfsohn resigned as Chief Executive Officer and from the Board of Directors. He will remain with the company in an employee capacity until December 31, 2014, maintaining his current remuneration and benefits. In immediate succession, the Board appointed Gregory A. Pratt, the current Chairman of the Board, as the new Chief Executive Officer. Mr. Pratt will continue his role as Chairman. Investors should note Mr. Pratt's prior experience as CEO of OAO Technology Solutions and his extensive board experience with other public companies, including his previous CEO tenure at Carpenter Technology during fiscal year 2010. Compensation details for Mr. Pratt in his new role are pending.

Key Highlights

  • 1CEO William A. Wulfsohn resigned effective November 14, 2014.
  • 2Mr. Wulfsohn will remain an employee until December 31, 2014.
  • 3Gregory A. Pratt appointed as the new Chief Executive Officer.
  • 4Mr. Pratt will continue to serve as Chairman of the Board.
  • 5Mr. Pratt brings prior CEO experience and extensive public company board background.
  • 6Compensation for the new CEO is yet to be determined.
  • 7The company attached a press release dated November 14, 2014, as Exhibit 99.1 detailing these changes.

Frequently Asked Questions

The filing does not provide specific reasons for Mr. Wulfsohn's resignation as Chief Executive Officer and from the Board of Directors.

Mr. Pratt, age 66, has been on the Board since 2002 and was previously CEO of OAO Technology Solutions. He also served as President and COO of Intelligent Electronics, Inc., and has held board positions with Tredegar Corporation and AmeriGas Propane, Inc. He also previously served as CEO of Carpenter Technology during fiscal year 2010.

The filing states that compensation arrangements for Mr. Pratt's service as Chief Executive Officer have not yet been determined.

This 8-K filing specifically addresses the executive leadership change and does not contain detailed financial performance information. Investors would need to refer to other filings, such as the company's quarterly or annual reports, for financial performance context.