PHILADELPHIA, PA — Carpenter Technology Corporation (NYSE: CRS) has unveiled a series of leadership changes as part of its Board succession plan, elevating President and CEO Tony R. Thene to Chairman of the Board, effective October 7, 2025.
Thene, who has led the company for the past decade, will succeed I. Martin Inglis, who will not seek reelection when his term ends at the 2025 Annual Stockholders Meeting. Inglis has served on the board since 2003 and as Chairman since 2021, overseeing strategic initiatives during more than 20 years of service.
Under Thene’s leadership as CEO, Carpenter Technology has expanded into a preferred solutions provider in specialty materials, serving high-growth markets with a focus on safety, quality, technology development, and operational improvement.
In conjunction with the board transition, Brian Malloy, Senior Vice President and Chief Operating Officer, will be promoted to President and COO on the same date. Malloy, who joined the company in 2015, has held senior roles in both commercial and operational leadership, driving advancements in strategic marketing, technology innovation, and operational efficiency. He became COO in December 2023.
The company also named Steven M. Ward, current Chair of the Corporate Governance Committee, as Lead Independent Director, effective October 7. Ward has served on the board since 2001.
The moves reflect the board’s emphasis on continuity in leadership, governance, and execution of Carpenter Technology’s growth strategy.
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