Brady CEO Frank Jaehnert Retires, Names Thomas Felmer Interim President And CEO

(RTTNews) - Brady Corp. (BRC) Monday announced the retirement of President and Chief Executive Officer Frank Jaehnert and the appointment of current Senior Vice President and Chief Financial Officer Thomas Felmer as Interim President and CEO.

At the request of the Board, Jaehnert will remain with the company in a consultative position until December 31 to ensure a sound transition.

Commenting on Jaehnert's departure, Conrad Goodkind, the Lead Independent Director of Brady's Board, said, "Over the last 10 years, he has led the company through acquisitions and international expansion and Brady has more than doubled its revenues. More recently, he has spearheaded a reorganization that has positioned us for future growth."

Goodkind said that Felmer would retain his responsibilities as CFO and Senior Vice President while the Board conducts a search for a new President and CEO. The changes are effective immediately. The search for a new President and CEO will begin as soon as possible.