Carpenter Technology Corp. has announced that during the normal course of CEO succession planning, Robert J. Torcolini, chairman, president and CEO, has advised the board of directors of his desired time horizon for retirement. Although no specific retirement date has been set, the Carpenter board has formed a selection committee and will begin a search process for a successor.
Torcolini, 55, has been with the company for 33 years and has served in his current role since 2003.
The board has retained KornFerry to assist with the search, which will involve evaluating both internal and external candidates. Torcolini will retain his current positions until a successor is named and is in place. The board and Torcolini are committed to assuring a smooth transition process and the precise timing of Torcolini's retirement will be determined as the transition progresses and by the needs of the company.
Cartech, Wyomissing, PA, is a leading manufacturer and distributor of specialty alloys and engineered products. For more information, visit the company's website at www.cartech.com.