Harsco Announces Resignation of Salvatore D. Fazzolari, Chairman, President and CEO
February 24 2012 - 8:00AM
Worldwide industrial solutions company Harsco Corporation
(NYSE:HSC) today announced the resignation of Chairman, President
& Chief Executive Officer Salvatore D. Fazzolari and its
acceptance by Harsco's Board of Directors, effective immediately.
Harsco Director Henry W. Knueppel will serve as Interim Chairman
& CEO while the Board conducts a search for a permanent
successor.
"The Board appreciates the many contributions that Salvatore has
made over the course of his 32-year career at Harsco," said Kathy
G. Eddy, Lead Independent Director of the Harsco Board of
Directors. "Mr. Fazzolari has helped lead the company through an
extraordinarily challenging period in the global economy and we
sincerely thank him for his many years of service."
Ms. Eddy added, "We are grateful that Henry Knueppel, a proven
industry leader with deep knowledge of our company and its broad
international reach, has agreed to step into the interim role
during this transition period."
Mr. Knueppel said, "While we ended 2011 on an encouraging note,
end-market conditions continue to be challenging and we have work
to do to further strengthen our businesses, particularly Harsco
Infrastructure and Harsco Metals & Minerals. We remain
committed to executing on our 5-year growth plan, and I look
forward to working closely with the senior leadership team to
capitalize on the many opportunities available to Harsco. On behalf
of the Board of Directors, I wish Salvatore well for the
future."
Biography of Henry W. Knueppel
Henry W. Knueppel, (63), has served on the Harsco Board of
Directors since September 2008. He recently retired as the Chairman
and CEO of Regal Beloit Corporation, a multi-national organization
with operations throughout North America, Europe and Asia serving
the HVAC, industrial motor, power transmission and power generation
markets. Mr. Knueppel served in a variety of senior management
roles at Regal Beloit since 1979, was appointed as CEO in 2005,
Chairman in 2006 and retired in 2011. Under his leadership at Regal
Beloit, the Company significantly expanded its international
footprint into China, India and other emerging markets, and
embraced a strong Economic Value Added (EVA(r)) and Lean Six Sigma
business culture that has underpinned substantial growth in the
company's operating performance. He holds degrees from Ripon
College and the University of Wisconsin, Whitewater. Mr. Knueppel
continues to serve on Regal Beloit's Board of Directors and also
serves on the Board of Directors of Snap-on Incorporated.
About Harsco
Harsco Corporation is a diversified, global industrial services
and engineered products company serving major industries that are
fundamental to worldwide infrastructure development and economic
growth. Harsco's common stock is a component of the S&P MidCap
400 Index and the Russell 1000 Index. Additional information can be
found at www.harsco.com.
The Harsco Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=361
CONTACT: Investor Contact
Eugene M. Truett
717.975.5677
etruett@harsco.com
Media Contact
Kenneth D. Julian
717.730.3683
kjulian@harsco.com
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