Carpenter Technology Names Tony Thene President And CEO, Effective July 1

(RTTNews) - Carpenter Technology Corp. (CRS), which produces and distributes premium alloys, Tuesday said its Board of Directors has appointed Tony Thene as Carpenter's President, Chief Executive Officer and member of the Board of Directors, effective July 1.

Thene succeeds Gregory Pratt who will remain on the Board of Directors with additional responsibilities as interim Executive Chairman of the Board.

Thene currently serves as Senior Vice President and Chief Financial Officer of Carpenter Technology, where he has served since January 31, 2013. He joined Carpenter after 23 years with Alcoa Inc., where he most recently served as the Chief Financial Officer for Alcoa's Engineered Products and Solutions business.

He was Vice President & Controller for Alcoa and was responsible for all corporate and business technical accounting matters, including financial controls and Securities Exchange Commission filings.

In his role as interim Executive Chair, Pratt will be responsible for developing the overall corporate strategy. In conjunction with the President and Chief Executive Officer, he will provide leadership and building consensus in the development of Carpenter's overall strategic plan, capital markets activities and corporate development initiatives within the context of the corporate strategy.

Tim Lain, who joined Carpenter in June, 2007 and is currently the company's Vice President—Controller and Chief Accounting Officer, will serve as acting Chief Financial Officer while a search is underway.