Cranberry Township, Pa.-based Mine Safety Appliances (NYSE:MSA) got a new CFO this evening.
On Wednesday after close of trading, Mine Safety announced that it has promoted Senior Vice President Stacy McMahan to the twin positions of chief financial officer and treasurer. McMahan replaces current CFO and Treasurer Dennis Zeitler, who today moved to the position of special advisor to William M. Lambert, MSA President and CEO, and who intends to retire fully from the company in August 2014.
McMahan has only been with the company for about nine months, having been hired in December 2012. However, Mine Safety says her election to CFO "is part of a planned management succession process that began when Ms. McMahan joined the company late last year." Prior to joining Mine Safety, McMahan spent 23 years working in financial positions, most recently as vice president of finance for the Customer Channels Group at Thermo Fisher Scientific.
Mine Safety did not disclose McMahan's exact compensation scheme. However, in a filing with the SEC, it did say that she will be entitled to participate in its "Non-CEO Executive Incentive Plan, Long-Term Incentive Compensation Plan, and Supplemental Savings Plan."
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