Carpenter Technology CEO Brian Malloy died suddenly just weeks after taking the helm of the specialty materials manufacturer, the company announced Monday.
Malloy, who became president and CEO July 1, died “suddenly and unexpectedly” Friday, July 24, according to a news release from the Philadelphia-based company.
A cause of death was not disclosed.
“We are deeply saddened by Brian’s passing,” Carpenter Technology’s board of directors said in a statement.
PHILADELPHIA VOTERS APPROVE FIRST CITY-RUN RETIREMENT SAVINGS PROGRAM FOR WORKERS WITHOUT 401(K) PLANS
“Over the past decade, Brian made significant contributions to Carpenter Technology and was a respected leader with a strong commitment to performance, operational excellence, and the Company’s long-term success,” the board added. “We extend our deepest sympathies to Brian’s family and loved ones during this difficult time.”
The board appointed Executive Chairman Tony Thene to return as CEO, effective immediately. Thene, who led Carpenter Technology from 2015 through June 2026, will also remain chairman.
Malloy spent a decade at Carpenter Technology and had served as chief operating officer since 2023.
COMPANY BETS $200K ON AI TO MAKE TRADES WORKERS ‘BETTER, STRONGER, FASTER’
When the company announced Malloy’s appointment in February, Thene called him a “proven leader” with “deep operational experience” and a track record of delivering results across the company’s businesses.
Malloy said at the time that he was “honored” to be selected as the company’s next chief executive.
“I am honored to be named the next CEO of Carpenter Technology,” Malloy said in February. “Tony’s strategic vision has reshaped Carpenter Technology by building a culture of performance, strengthening our market position, and delivering meaningful value for all stakeholders.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CRS | CARPENTER TECHNOLOGY CORP. | 503.71 | -26.91 | -5.07% |
CRACKER BARREL CEO JULIE MASINO TO STEP DOWN
Before joining Carpenter Technology, Malloy held senior leadership roles at Ametek and Alcoa.
A Carpenter Technology spokesperson told FOX Business the company would not comment further “out of respect for the privacy of the family.”
Read the full article here
