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Carpenter Technology CEO resigns

Carpenter Technology chairman and CEO resigns; company to split rolls into 2 positions

  • On 9:02 am EDT, Monday October 12, 2009

READING, Pa. (AP) -- Carpenter Technology Corp., a producer and distributor of specialty alloys, on Monday announced the resignation of its chairman and chief executive, Anne L. Stevens, and said it plans to split the two roles into separate positions.

The company's board named Gregory A. Pratt to serve as chairman and interim CEO and president, replacing Stevens. The company is conducting a search for a CEO to serve as Stevens' successor, after which Pratt will serve as non-executive chairman.

Pratt has served as a company director since 2002.

Carpenter said the decision to split the positions puts it in line with new trends in best practices for corporate governance and makes the company more accountable to shareholders.

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