Steel Partners Holdings L.P. Announces Rich Ballenger Named President of Lucas-Milhaupt
May 20 2020 - 4:15PM
Business Wire
Steel Partners Holdings L.P. (NYSE: SPLP) today announced the
appointment of Rich Ballenger as the President of Lucas-Milhaupt,
succeeding John Ashe who will become CEO of IWCO Direct and
Chairman of Lucas-Milhaupt.
Ballenger has most recently served as Vice President and General
Manager of Lucas-Milhaupt. He joined Lucas-Milhaupt in 2016. He was
previously Vice President of Sales and Engineering at MTE
Corporation, a business unit of Steel Partners that provides power
quality solutions for automation. Ballenger was with MTE from 2012
to 2016.
Ballenger will report directly to Warren Lichtenstein, Executive
Chairman of Steel Partners.
“Rich has demonstrated tremendous leadership skills during his
career at both MTE and Lucas-Milhaupt,” said Lichtenstein. “His
commitment to our employees, customers, and core values will drive
our business and build on our strong momentum. Rich was in the
inaugural cohort of our SteelGrow Leadership Development Program,
and he has continued to develop and mentor subsequent leadership
teams throughout Steel Partners. The SteelGrow program continues to
successfully develop and retain our proven management team to
ensure continued success for many years to come. We are also
pleased that John Ashe will continue to maintain an active role as
Chairman during this transition. With Rich as President and John as
Chairman, Lucas-Milhaupt has a powerful advantage in the
marketplace.”
“I know that I speak for everyone at Lucas-Milhaupt in thanking
John Ashe for his leadership and dedication to the company,” said
Ballenger. “I am incredibly excited to assume this new role and for
the future of the company. We have an exceptionally talented team
at Lucas-Milhaupt that is focused on taking decisive actions to
transform the business, innovate our product in new and diverse
ways, and unlock future growth opportunities.”
About Steel Partners Holdings L.P.
Steel Partners Holdings L.P. (www.steelpartners.com) is a
diversified global holding company that owns and operates
businesses and has significant interests in various companies,
including diversified industrial products, energy, defense, supply
chain management and logistics, direct marketing, banking, and
youth sports.
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version on businesswire.com: https://www.businesswire.com/news/home/20200520005554/en/
Investor Contact Jennifer Golembeske 212-520-2300
jgolembeske@steelpartners.com
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