STAMFORD, Conn. -- (Business Wire)
Crane Co. (NYSE: CR), a diversified manufacturer of highly engineered
industrial products, today announced the appointment of Max H. Mitchell
as President and Chief Operating Officer, effective immediately. Mr.
Mitchell, 49, has served as Executive Vice President and Chief Operating
Officer since May 2011, during which time Crane has delivered record
operating results. All segment Group Presidents will continue to report
to Mr. Mitchell.
Crane Co. also announced that Andrew L. Krawitt has decided to leave the
Company in May 2013 in order to pursue a doctorate in mathematics. Mr.
Krawitt has served as Vice President and Treasurer of Crane Co. since
September 2006, and was designated the Company’s principal financial
officer in May 2010.
In conjunction with Mr. Krawitt’s intended departure, the Company
announced the appointment of Richard A. Maue as Vice President–Finance
and Chief Financial Officer, effective immediately. Mr. Maue, 42, who
joined Crane in August 2007 as Vice President and Controller and
principal accounting officer, has also been designated as the Company’s
principal financial officer, effective immediately. Mr. Maue is a
Certified Public Accountant and received his Bachelor of Science degree
in Accounting from Villanova University in 1992. He has twenty years of
experience as a finance professional, primarily with public companies in
the manufacturing industry. Since May 2010, Mr. Maue and Mr. Krawitt
have shared CFO responsibilities.
Eric C. Fast, Chief Executive Officer said, “I am extremely pleased to
have Max take the next step in our succession planning process as he
continues to drive profitable growth and influence Crane’s strategic
direction. I would like to thank Andrew for his contributions and wish
him well in his new pursuit. Rich is highly qualified to lead our
finance organization, and his promotion to CFO will enable continued
Crane Co. is a diversified manufacturer of highly engineered industrial
products. Founded in 1855, Crane provides products and solutions to
customers in the aerospace, electronics, hydrocarbon processing,
petrochemical, chemical, power generation, automated merchandising,
transportation and other markets. The Company has five business
segments: Aerospace & Electronics, Engineered Materials, Merchandising
Systems, Fluid Handling, and Controls. Crane has approximately 11,000
employees in North America, South America, Europe, Asia and Australia.
Crane Co. is traded on the New York Stock Exchange (NYSE:CR). For more
information, visit www.craneco.com.
Richard E. Koch, 203-363-7352
and Corporate Communications
Source: Crane Co.
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