Machinery maker Gardner Denver Inc. said Tuesday that Chairman Ross J. Centanni and Executive Vice President J. Dennis Shull will retire, effective Jan. 2, 2009.
Centanni will serve as chairman emeritus until his retirement, at which point he will serve as a consultant until the company's May 2009 annual shareholders meeting. Centanni, 62, was president and chief executive of Gardner from 1993 until January.
Lead nonemployee director Frank J. Hansen will serve as nonexecutive chairman, effective immediately. President and Chief Executive Barry Pennypacker will report to Hansen.
Shull, 59, who also serves as general manager of the compressor division, will be succeeded by Executive Vice President of Administration, General Counsel and Secretary Tracy D. Pagliara.
Shares of Gardner Denver fell 29 cents to $48.75 in afternoon trading.
Terms & Conditions
RSS Headlines
Fool UK