PITTSBURGH - Kennametal Inc. (NYSE: NYSE:KMT), a global leader in materials science and tooling solutions, has announced a leadership transition with Sanjay Chowbey set to take the helm as President & CEO, succeeding Christopher Rossi, who is retiring effective May 31, 2024.
The transition comes as part of a planned succession, with Chowbey's appointment by the Board of Directors to take effect on June 1, 2024.
Rossi, who has led Kennametal for nearly seven years, will continue his involvement with the company as a member of the Board of Directors until his retirement. During his tenure, Rossi executed the company's Simplification/Modernization strategy, which enhanced the efficiency and customer service of its factories and fostered new product innovations.
He also guided Kennametal through the COVID-19 pandemic and was instrumental in driving a cultural transformation and improving business performance.
Chowbey, who joined Kennametal in 2021 as Vice President and President of the Metal Cutting segment, has been credited with expanding the customer base, achieving sales growth, and increasing operating margins under his leadership. He has launched more than 20 new products and has played a key role in enhancing employee engagement.
William M. Lambert, Chairman of the Board, expressed confidence in Chowbey's abilities to advance the company's growth trajectory and to continue executing on a transformational strategy aimed at delivering above-market growth and margin expansion.
Chowbey's experience includes over 20 years in various industrial companies, with prior roles encompassing strategy, operations, sales, marketing, and finance.
Chowbey's commitment to accelerating Kennametal's transformational journey is focused on creating shareholder value through growth, margin expansion, and a balanced capital allocation strategy. As the search for Chowbey's successor in the Metal Cutting segment begins, he will maintain his current role to ensure a smooth transition.
Kennametal, with a legacy spanning 86 years, serves a diverse set of industries including aerospace, defense, energy, and transportation. The company, which generated $2.1 billion in revenues in fiscal 2023, is known for its contributions to precision manufacturing and efficiency. Kennametal employs approximately 8,700 people globally, supporting customers in nearly 100 countries.
This leadership announcement is based on a press release statement from Kennametal Inc.
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