CHARLOTTE, N.C.--(BUSINESS WIRE)--
Carlisle Companies Incorporated (NYSE:CSL) announced today that the
Company’s Board of Directors has further implemented its ongoing
succession plan and appointed D. Christian Koch (“Chris”) Chief
Executive Officer and a member of the Board of Directors, both effective
January 1, 2016. David A. Roberts, Carlisle’s current Chairman and Chief
Executive officer, will become Executive Chairman on January 1, 2016 and
remain a board member and an officer of the Company.
Mr. Koch joined Carlisle in 2008. In 2014, he was elected President and
Chief Operating Officer as part of the Board’s executive succession
plan. Prior to then, Mr. Koch served as Group President of Carlisle
Brake & Friction, Carlisle Foodservice Products, and, prior to its sale,
Carlisle Transportation Products. In 2015, Mr. Koch led the acquisition
and integration of the Company’s $600 million purchase of the Finishing
Brands business from Graco, Inc. Finishing Brands now operates as a
separate segment, Carlisle Fluid Technologies.
Prior to joining Carlisle, Mr. Koch was the Vice President and General
Manager of Asia Operations at Graco, Inc. Mr. Koch serves as a Director
on the Arctic Cat Incorporated (NASDAQ:ACAT) board of directors.
Mr. Roberts stated, “The appointment of Chris Koch as CEO culminates a
nearly four year planned transition of senior leadership at Carlisle.
Instrumental in this transition was the Board’s appointment of Chris as
President and COO in 2014, which provided the opportunity for me to work
closely with Chris the past eighteen months laying the ground work for a
seamless change in leadership.
“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. 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. He has my complete support and I look
forward to working with Chris in my role as Executive Chairman."
Mr. Koch commented, “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. 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 Roberts 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.”
Mr. Roberts will become Executive Chairman on January 1, 2016 after
serving over 8 years as Carlisle’s Chairman and CEO. Since joining
Carlisle as CEO in 2007, Mr. Roberts has led Carlisle through a period
of significant growth and transformation. In 2007, under Mr. Roberts,
Carlisle implemented its “5-15-30-15-15 Strategy” focused on improving
shareholder returns. Critical to the success of this strategy was Mr.
Roberts’ formation of the “Carlisle Operating System,” or COS, in 2008.
COS has become the standard of excellence through which Carlisle
businesses pursue continuous improvement, increased productivity and
world class quality. Under Mr. Roberts’ leadership, Carlisle has been
transformed from a collection of 9 businesses generating operating
margins of below 10% to its current portfolio of 5 businesses that
operate in more specialized end markets and generate margins in the 14%
range. From June 2007 through the end of November 2015, Carlisle’s
market capitalization has more than doubled to $5.8 billion and
shareholder returns have exceeded the S&P 500 Index by 54 percentage
points.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements generally use words such as “expect,” “foresee,”
“anticipate,” “believe,” “project,” “should,” “estimate,” “will,”
“plans,” “forecast,” and similar expressions, and reflect our
expectations concerning the future. It is possible that our
future performance may differ materially from current expectations
expressed in these forward-looking statements, due to a variety of
factors such as: increasing price and product/service competition by
foreign and domestic competitors, including new entrants; technological
developments and changes; the ability to continue to introduce
competitive new products and services on a timely, cost-effective basis;
our mix of products/services; increases in raw material costs which
cannot be recovered in product pricing; domestic and foreign
governmental and public policy changes including environmental and
industry regulations; threats associated with and efforts to combat
terrorism; protection and validity of patent and other intellectual
property rights; the successful integration and identification of our
strategic acquisitions; the cyclical nature of our businesses; and the
outcome of pending and future litigation and governmental proceedings.
In addition, such statements could be affected by general industry and
market conditions and growth rates, the condition of the financial and
credit markets, and general domestic and international economic
conditions including interest rate and currency exchange rate
fluctuations. Further, any conflict in the international arena
may adversely affect general market conditions and our future
performance. We refer you to the documents we file from time to
time with the Securities and Exchange Commission, such as our reports on
Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other
risks and uncertainties that could cause our actual results to differ
materially from our current expectations and from the forward-looking
statements contained in this press release. We undertake no
obligation to update any forward-looking statement.
About Carlisle Companies Incorporated
Carlisle Companies Incorporated is a global diversified company that
designs, manufactures and markets a wide range of products that serve a
broad range of niche markets including commercial roofing, energy,
agriculture, mining, construction, aerospace and defense electronics,
medical technology, foodservice, healthcare, sanitary maintenance,
transportation, general industrial, protective coating, wood, specialty
and auto refinishing. Through our group of decentralized operating
companies led by entrepreneurial management teams, we bring innovative
product solutions to solve the challenges facing our customers. Our
worldwide team of employees, who generated $3.2 billion in net sales in
2014, is focused on continuously improving the value of the Carlisle
brand by developing the best products, ensuring the highest quality and
providing unequaled customer service in the many industries we serve.
Learn more about Carlisle at www.carlisle.com.
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Source: Carlisle Companies Incorporated