BELOIT, Wis., March 14, 2019 /PRNewswire/ -- Regal Beloit
Corporation (NYSE: RBC) today announced that Louis V. Pinkham will become Regal's Chief
Executive Officer (CEO), effective April 1,
2019. Regal had previously announced that Mark J. Gliebe, Chairman and CEO, would retire
from Regal after the appointment of his successor. Mr. Gliebe will
continue to serve as Chairman of the Board until the annual meeting
of Regal's shareholders on April 30,
2019 and will not stand for re-election to the Board as a
director. The Board of Directors of Regal has acted to appoint
current Presiding Director, Rakesh
Sachdev, to serve as the next Chairman of the Board, subject
to his re-election at the 2019 annual meeting. Further, it is
expected that Mr. Pinkham will be elected by the Board to serve as
a director of the Company following the Company's 2019 annual
meeting.
Mr. Pinkham, age 47, is currently Senior Vice President for
Crane Co. (a manufacturer of highly engineered industrial
products). He joined Crane Co. in October
2012 as Group President, Fluid Handling. In 2014, he
was named Senior Vice President, responsible for Fluid Handling and
Electronics. In 2016, he was promoted to his current role as Senior
Vice President with responsibility for three of Crane's four
reporting entities, including Aerospace & Electronics, Payment
and Merchandising Technologies, and Engineered Materials. In
addition, he has corporate responsibility for facilitating Crane
Co.'s emerging market growth in the Middle East & Africa, India
and China. Mr. Pinkham has
announced his intention to resign his position with Crane Co.,
effective March 29, 2019.
Prior to joining Crane Co., Mr. Pinkham was Senior Vice
President and General Manager of the Critical Power Solutions
Division, Electrical Group at Eaton Corporation plc (a
multinational power management company). From 2000 to 2012, he held
successive and increasing roles of global responsibility at Eaton,
including Vice President and General Manager, Low Voltage
Components; General Manager, Electrical Group for North Asia based in China; and Managing Director of the Electrical
Group based in Switzerland. Prior
to joining Eaton, Mr. Pinkham held an Engineering and Quality
Manager position at ITT Sherotec and a Process Design Engineer
position with Molecular Biosystems, Inc.
Mr. Pinkham is a graduate of Duke
University with a Bachelor of Science degree in Engineering,
and he holds a Master of Engineering Management degree from
Northwestern University's McCormick
School of Engineering and a Master of Business Administration
degree from Northwestern University's
Kellogg Graduate School of Management.
Speaking on behalf of Regal's Board of Directors, Rakesh Sachdev said, "We are thrilled to
welcome Louis to the Regal team. He is a proven executive having
led businesses that have grown both organically and through
acquisition. His commercial and technical experience with
electrical, mechanical, software and digital technologies will help
drive Regal's innovation and growth initiatives."
Mr. Sachdev continued, "We thank Mark for his
outstanding contributions to Regal and wish him the very best in
his retirement. Part of his legacy will be Regal's culture, which
will be carried forward by an outstanding management team."
Added Mr. Pinkham, "It is an honor to be selected as Regal's
fifth CEO. I am joining a company that is performing well and has a
strong foundation and positive momentum. Regal's differentiated
technology is exciting. It promises to deliver energy efficiency
and help our customers improve the life-cycle value of their
products in a connected world."
Regal Beloit Corporation is a leading manufacturer of electric
motors and controls, power generation products and power
transmission products serving customers throughout the world. We
create a better tomorrow by developing and responsibly producing
energy-efficient products and systems.
Our company is comprised of three operating segments: Commercial
and Industrial Systems, Climate Solutions and Power Transmission
Solutions. Regal is headquartered in Beloit, Wisconsin and has manufacturing, sales
and service facilities worldwide. For more information, visit
RegalBeloit.com.
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SOURCE Regal Beloit Corporation