Crane Co. (NYSE:CR), a diversified manufacturer of highly engineered
industrial products, today announced that Max H. Mitchell was appointed
Chief Executive Officer of Crane, effective at the close of business
today. He was also elected to the Board of Directors. Mr. Mitchell, 50,
joined Crane in 2004 as Vice President of Operational Excellence, was
promoted to President of Fluid Handling in 2005, became Executive Vice
President and Chief Operating Officer in May 2011, and was appointed
President of Crane Co. in January 2013. Prior to Crane, Mr. Mitchell had
successive management roles with Pentair, Danaher and Ford Motor
Company. He succeeds Eric C. Fast, who retired from Crane Co. at close
of business today. Mr. Fast joined Crane in 1999 as President and Chief
Operating Officer and was promoted to Chief Executive Officer in January
2001.
Max Mitchell said, “I would like to express my deepest thanks to Eric
Fast, who for the past 14 years with Crane, including 13 years as CEO,
has led this organization to substantially higher levels of consistent
execution, performance, and record results. It has been a privilege to
have worked by Eric’s side these past 10 years. I also wish to thank the
Board of Directors for their guidance and support. Along with an
outstanding team in place today, I am honored to lead Crane with its
strong heritage, rich culture and record of accomplishment spanning 159
years. Along with the management team, I look forward to presenting our
plans for continued shareholder value creation at our investor day on
Feb 27th.”
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 four business
segments: Aerospace & Electronics, Engineered Materials, Merchandising
Systems, and Fluid Handling. 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.
Crane Co.
Richard E. Koch, 203-363-7352
Director, Investor Relations and Corporate Communications
www.craneco.com