Overview
- Brian Malloy died suddenly on Friday, July 24, three weeks after he was promoted to chief executive of Carpenter Technology.
- Tony Thene, Malloy’s predecessor and executive chairman, resumed the CEO role effective immediately and will lead the company for now.
- Carpenter said the scheduled investor conference call will go ahead as planned even as the board reviews longer-term leadership options.
- Shares fell roughly 4 to 5 percent after the company announced Malloy’s death as investors reassessed near-term prospects for the specialty-alloy maker.
- Carpenter is a 137-year-old, roughly $3 billion-a-year manufacturer of stainless-steel and alloy products for aerospace, medical, defense, and industrial customers that employs about 4,500 people; the company expressed sorrow and declined to disclose a cause of death.