Investing.com -- Carlisle Companies Incorporated (N:CSL) announced on Friday that Christian Koch will replace David Roberts as the company's Chief Executive Officer in a move that will be effective on New Year's Day.
Roberts, who became CEO of Carlisle in June, 2007, will begin serving as the company's executive chairman on January 1 and will retain his position on the company's Board of Directors. Koch, 50, joined Carlisle in 2008 and was promoted to the company's president and Chief Operating Officer in 2014 as part of the Board's executive succession plan.
Carlisle, a diversified Charlotte-based company, specializes in a wide range of designing and manufacturing in numerous markets including: commercial roofing, energy and agriculture. Prior to joining Carlisle, Koch served as the vice president of Lubrication Equipment at Graco, Inc. for four years in the early 2000s.
“The appointment of Chris Koch as CEO culminates a nearly four year planned transition of senior leadership at Carlisle," Roberts said in a statement. "Chris and I have worked together at Carlisle since 2008 and, before that, for many years at Graco, Inc. He has been tried in difficult situations and has continually demonstrated the ability to successfully take on larger leadership responsibilities."
"Chris is the right person to build Carlisle for the future. He has been crucial to the many successes we have achieved at Carlisle in executing our growth strategy, implementing the Carlisle Operating System and transforming Carlisle into a portfolio of businesses that generates higher returns," Roberts added. "I couldn't be more pleased that the Board has elected to put the future of Carlisle in Chris' hands, as I know he will continue to implement our strategic plan and improve our operations."
Earlier this year, Koch spearheaded the acquisition and integration of Carlisle’s $600 million purchase of the Finishing Brands segment from Graco. Finishing Brands now operates as a separate division, Carlisle Fluid Technologies, Carlisle said in a statement.
"I am humbled and honored to become Carlisle’s next CEO and to continue our strategy to bring excellence to our customers and drive value to our shareholders," Koch said. "I’m looking forward to working with our executive team and our worldwide team of dedicated professionals who come to work every day to find ways to add value to Carlisle. The opportunity to work with Dave these many years is a privilege very few are afforded, and I am thankful that he will continue to be an important part of the on-going success story at Carlisle."
On Friday, shares in Carlisle closed at 88.25, down 0.35 or 0.40% on the session.