Donaldson Company, Inc. announced that Tod Carpenter, currently the company's Chief Operating Officer (COO), has been named President and Chief Executive Officer (CEO) effective April 1, 2015.
As part of the CEO succession process developed by the Donaldson Board of Directors, current Chairman, President and CEO Bill Cook will remain Chairman of the Board. Cook has been Chairman, President and CEO of the Company since 2005.
Carpenter was named COO last February. Since joining the company in 1996, he has held various operations, sales, and managerial roles in the U.S. and Europe, serving as a General Manager; Vice President, Global Industrial Filtration Solutions; Vice President, Europe; and Senior Vice President, Engine Products. Prior to joining Donaldson, he worked at York & Associates and the Hughes Aircraft Company. Carpenter holds a Bachelor's Degree in Manufacturing Technology from Indiana State University, an MBA from Long Beach State University, and completed the Minnesota Executive Program at the University of Minnesota's Carlson School of Management.
"Tod's appointment is part of our ongoing executive development and CEO succession process, which our Board has been actively engaged in for several years. Our management succession plans help ensure that our leadership team always has the experience and knowledge to effectively manage our company for the benefit of our shareholders and customers," said Cook. "During his almost two decades at our company, Tod has demonstrated a passion for our business, a strong customer orientation, and a keen focus on delivering financial results. I have worked closely with Tod throughout his Donaldson career and am confident he is the right leader for our company as we celebrate our 100th anniversary and, more importantly, as we look forward to our next chapter of growth, innovation, and value creation."
"I am especially grateful for the trust Bill and our Board of Directors is placing in me to assume this position. I am honored to have this opportunity to lead our incredibly talented global team," said Carpenter.