Donaldson Names Tod Carpenter CEO; Bill Cook To Remain Chairman

(RTTNews) - Filtration systems maker Donaldson Co Inc (DCI) on Friday named Tod Carpenter as president and chief executive officer, effective April 1.

Carpenter, currently the company's chief operating officer, will replace Bill Cook, who will remain chairman of the board. Cook has been chairman, president and CEO of Donaldson 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. Prior to joining Donaldson, he worked at York & Associates and the Hughes Aircraft Co.

"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," 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..."

DCI closed Friday at $36.56, down $0.44 or 1.19%, on the NYSE.