01—Abstract
Summary
Summary of the 8-K filed August 12, 2026. Cited figures are marked; the original filing is the authoritative source.
Carpenter Technology Corporation (CRS) announced significant changes to its Board of Directors.
Ken J. Giacobbe has been appointed as a Class III director, effective August 11, 2026, with his term extending to the 2028 annual meeting. Mr. Giacobbe brings extensive financial and executive leadership experience from the aerospace and advanced manufacturing sectors, having previously served as CFO for Howmet Aerospace Inc. and Arconic Inc. His appointment is expected to bolster the board's expertise in critical industry areas.
The company also disclosed the upcoming departures of two existing directors, Howard Yu and Colleen Pritchett. Mr. Yu will step down on October 6, 2026, following the annual stockholders' meeting, while Ms. Pritchett has decided not to seek re-election at the same meeting. Notably, neither director's departure is attributed to any disagreements with the company or its management.
02—Key points
Key Highlights
- Appointment of Ken J. Giacobbe to the Board of Directors as a Class III director.
- Mr. Giacobbe's extensive financial and executive leadership background in aerospace and advanced manufacturing.
- Mr. Giacobbe qualifies as an independent director under SEC and NYSE standards.
- Resignation of director Howard Yu, effective October 6, 2026 (post annual meeting).
- Director Colleen Pritchett will not stand for re-election at the upcoming Annual Stockholders' Meeting.
- Departures of Mr. Yu and Ms. Pritchett are not due to any disagreements with the Company or its management.
- Press release announcing these board changes is furnished as an exhibit.
03—Questions
Frequently Asked Questions
Who is Ken J. Giacobbe and what is his background?
Ken J. Giacobbe is a newly appointed Class III director to Carpenter Technology Corporation's Board. He possesses over three decades of experience in finance and executive leadership, particularly within the aerospace, advanced manufacturing, and technology industries. Notably, he previously served as Executive Vice President and Chief Financial Officer for Howmet Aerospace Inc. and Arconic Inc.
Why are Howard Yu and Colleen Pritchett leaving the board?
Howard Yu has notified the Board of his intention to step down as a director effective October 6, 2026. Colleen Pritchett has decided not to run for re-election at the upcoming Annual Stockholders' Meeting. The company explicitly states that neither director's departure is a result of any disagreements with the Company or its management regarding its operations, policies, or practices.
Does Mr. Giacobbe's appointment have any immediate impact on board committees?
At this time, the filing states that Mr. Giacobbe has not yet been appointed to any committees of the Board of Directors. Further committee assignments may be announced later.
How will Mr. Giacobbe be compensated for his board service?
Mr. Giacobbe is expected to receive compensation in line with the Company's established director compensation program for non-employee directors. Details of this program are typically outlined in the Company's annual Proxy Statement.
04—Continue