Carpenter Technology Elects Philip Anderson and Robert McMaster Directors
April 25 2007 - 8:00AM
Business Wire
Carpenter Technology Corporation (NYSE:CRS) today announced the
election of Robert R. McMaster, a former partner at KPMG and former
CEO of Westward Communications, and Dr. Philip M. Anderson,
professor of physics and consultant on technology and intellectual
property, as directors of the Company. �Robert McMaster brings to
the board years of success in accounting and management, and Dr.
Anderson provides invaluable expertise and insight into advanced
technology applications, including the fields of aerospace and
energy,� said Anne Stevens, chairman, president and chief executive
officer. �On behalf of the board of directors, senior management
and the entire organization, we are pleased to welcome Bob and Phil
to Carpenter Technology.� The additions of McMaster and Dr.
Anderson expand the Company�s board to 10 members, all but one of
which are outside directors. McMaster, age 58, held various
positions at KPMG from May 1970 to June 1997, including Ohio Valley
Area Managing Partner. As such, he served from 1992 to 1997 as a
member of KPMG�s Management Committee. From June 1997 to February
2005, McMaster was chairman and chief executive officer of Westward
Communications, and president and chief executive officer of its
successor company, ASP Westward Holdings, publishers of community
newspapers in Texas and Colorado. McMaster also is a director of
Sally Beauty Holdings (chairman, Audit Committee; member, Finance
Committee); Dominion Homes Inc., (member, Audit and Compensation
Committees), and Minimally Invasive Devices, LLC. He also is a
former board member of American Eagle Outfitters, Inc. He is active
in a wide variety of community affairs organizations in the
Columbus, Ohio, region. He received his B.S., magna cum laude, in
accounting from Miami University, Oxford, Ohio, in 1970, and is the
recipient of the Haskins & Sells Foundation Award for
excellence in accounting. Dr. Anderson, age 58, is a professor of
physics at Ramapo College of New Jersey, where he has taught since
1990 courses ranging from introductory to advanced physics and
electronics, as well as invention and entrepreneurship. He holds
more than 100 foreign and 34 U.S. patents, and was named Inventor
of the Year by the New Jersey Inventor�s Hall of Fame in 2001. He
also is a respected consultant on technical and intellectual
property on new technology and product development for Fortune 100
companies, with particular emphasis on security systems, medical
devices, sensors, magnetics, acoustics and materials. Prior to
teaching, he was founder, president and chief executive officer of
Identitech Corp., 1986-1988; and new venture manager and senior
research physicist at Allied Corp. (now Honeywell Corp.),
1979-1986. Dr. Anderson received his B.A. in physics in 1970 from
Widener University, M.S. degrees in both physics and electrical
engineering from Drexel University in June 1977, and a Ph.D. in
physics from Drexel in 1979. He served as a pilot in the U.S. Air
Force and Air National Guard from 1970-1975. He currently is a
director of Aerco International, and is a former director of
Sigma-Netics. From 1997-2001, he was a member of the Peer Review
Board of the U.S. Army�s ARDEC, Picatinny Arsenal. Carpenter
Technology produces and distributes specialty alloys, including
stainless steels, titanium alloys and superalloys, and various
engineered products. Detailed information about Carpenter
Technology can be accessed at our website: www.cartech.com. Except
for historical information, all other information in this news
release consists of forward-looking statements within the meaning
of the Private Securities Litigation Act of 1995. These
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ from those projected,
anticipated or implied. The most significant of these uncertainties
are described in Carpenter's filings with the Securities and
Exchange Commission including its annual report on Form 10-K for
the year ended June 30, 2006, its subsequent Form 10-Q, and the
exhibits attached to those filings. They include but are not
limited to: 1) the cyclical nature of the specialty materials
business and certain end-use markets, including aerospace,
industrial, automotive, consumer, medical, and energy including
power generation, or other influences on Carpenter�s business such
as new competitors, the consolidation of customers, and suppliers
or the transfer of manufacturing capacity from the United States to
foreign countries; 2) the ability of Carpenter to achieve cost
savings, productivity improvements or process changes; 3)�the
ability to recoup increases in the cost of energy and raw materials
or other factors; 4)�domestic and foreign excess manufacturing
capacity for certain metals; 5)�fluctuations in currency exchange
rates; 6) the degree of success of government trade actions; 7)�the
valuation of the assets and liabilities in Carpenter�s pension
trusts and the accounting for pension plans; 8)�possible labor
disputes or work stoppages; 9) the potential that our customers may
substitute alternate materials or adopt different manufacturing
practices that replace or limit the suitability of our products;
10) the ability to successfully acquire and integrate acquisitions;
and 11) the ability of Carpenter to implement and manage material
capital expansion projects in a timely and efficient manner. Any of
these factors could have an adverse and/or fluctuating effect on
Carpenter's results of operations. The forward-looking statements
in this document are intended to be subject to the safe harbor
protection provided by Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. Carpenter undertakes no obligation to update or revise
any forward-looking statements.
Carpenter Technology (NYSE:CRS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Carpenter Technology (NYSE:CRS)
Historical Stock Chart
From Jul 2023 to Jul 2024