Gardner Denver names Larsen as its CEO

Gardner Denver names interim CEO Larsen to post on a permanent basis; still exploring sale

Associated Press

WAYNE, Pa. (AP) -- Industrial machinery and parts maker Gardner Denver on Monday named its interim CEO to lead the company on a permanent basis.

The Wayne, Pa. company also said that it continues to explore its strategic options, which includes a possible sale.

Michael M. Larsen had served as interim CEO since July, when Barry L. Pennypacker resigned.

Gardner Denver Inc.'s board unanimously appointed Larsen as CEO and president. He previously served as chief financial officer and vice president. The company said Larsen will continue to serve as CFO while it looks for a successor.

He will also serve as a board member, bringing the board's total to nine directors.

Its stock edged up 4 cents to $68.44 in morning trading. Shares have changed hands between $45.54 and $86.99 in the past 52 weeks.

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