Donaldson Company, Inc. announced today that its current chief operating officer, Tod Carpenter, will take the reins as president and chief executive officer effective April 1.
As part of the CEO succession plan developed by the company’s Board of Directors, Bill Cook will remain chairman of the board, having served as chairman, president and CEO of Donaldson since 2005.
“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,” 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.”
Carpenter has served as COO since last February. Since joining Donaldson in 1996, he has held various operations, sales, and managerial roles in the United States and Europe, serving as a general manager; vice president, global industrial filtration solutions; vice president, Europe; and senior vice president, engine products.
“I am especially grateful for the trust Bill and our Board of Directors is placing in me to assume this position,” Carpenter said. “I am honored to have this opportunity to lead our incredibly talented global team.”
Prior to joining Donaldson, Carpenter worked at York & Associates and the Hughes Aircraft Company. He holds a bachelor’s degree in manufacturing technology from Indiana State University and an MBA from Long Beach State University. Additionally, he 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 … (to) 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,” continued Cook.
Donaldson has more than 12,700 dedicated employees who contribute to its success at more than 140 sales, manufacturing and distribution locations around the world. In fiscal year 2014, the company said it reported sales of $2.5 billion and record earnings per share.
