Hillenbrand Names New CEO

Batesville, Ind.-based Hillenbrand (NYSE: HI  ) is losing one chief executive officer and gaining another.

On Wednesday, 32-year company veteran Kenneth A. Camp announced that he has decided to retire at the end of this year. Three months before he retires, he will vacate the positions of president and CEO of the company to make way for newly promoted Hillenbrand exec Joe Raver on Sept. 6.

This won't be the first time Raver takes over a job Camp is vacating. When Camp moved from subsidiary Batesville Casket to take over Hillenbrand in 2008, Raver became president of that organization as well. His current position at Hillenbrand, however, is as president of the Process Equipment Group, where he helped expand Hillenbrand's business into China, Russia, and India.

Hillenbrand advised in an SEC filing that it has not yet established the terms of compensation for Raver in his new post. The company said it will make the requisite filing with this information once a contract has been drawn up.

Hillenbrand shares gained 0.5% in Wednesday trading ahead of this announcement. Shares closed at $25.09.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2324052, ~/Articles/ArticleHandler.aspx, 11/27/2014 12:16:33 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement