Wabtec Names New Chairman and Company President

Wilmerding, Pa.-based Westinghouse Air Brake Technologies Corporation (NYSE: WAB  ) -- aka "Wabtec" -- reshuffled its management crew a bit this week.

On Tuesday, the rail and industrial supplier announced that Board of Directors Chairman William E. Kassling has stepped down and has been replaced by as chairman by company President and Chief Executive Officer -- now "Chairman and CEO" -- Albert J. Neupaver.

That move left Wabtec short one president, and so the company promptly retitled President and Chief Operating Officer Raymond T. Betler as its new "president and COO." Going forward, Betler will be responsible for Wabtec's day-to-day operations, including finance, HR, corporate development, and legal.

Going even farther forward, Betler is being groomed for the top job. Commenting on his colleague's promotion, Neupaver called "Ray's promotion to president and COO ... an important step in our ongoing succession planning process."

In other news, Wabtec on Tuesday announced a 2-for-1 stock split and increased its per-share dividend by 60%, to $0.04 per share. The first issuance of the new dividend will become payable on Aug. 30, after the stock split has been effected. 

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.

Compare Brokers

Fool Disclosure

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: 2434119, ~/Articles/ArticleHandler.aspx, 8/25/2016 12:41:57 AM

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...

Today's Market

updated 3 hours ago Sponsored by:
DOW 18,481.48 -65.82 -0.35%
S&P 500 2,175.44 -11.46 -0.52%
NASD 5,217.70 -42.38 -0.81%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

8/24/2016 4:02 PM
WAB $75.89 Up +0.04 +0.05%
Westinghouse Air B… CAPS Rating: *****