MANITOWOC, Wis.-- The Manitowoc Company, Inc. (NYSE: MTW) today announced that Michael Kachmer has resigned as president of the Company's Foodservice segment and as senior vice president of the Company to pursue a chief executive officer role. Chairman and Chief Executive Officer Glen Tellock will lead the Foodservice segment on an interim basis while the Company searches for Mr. Kachmer's successor. Several strong internal candidates are being considered to serve as president of Foodservice on a permanent basis.
We thank Mike for his contributions to our company and wish him well in his future endeavors. Meanwhile, our deep management bench and strong succession planning process provides a solid foundation to ensure a smooth transition and execute on our long-term strategy.
Mike has been instrumental to the development of Manitowoc Foodservice and leaves the segment poised for additional growth in 2013 and beyond as we continue to execute on strategies to gain market share, drive innovation in our core brands and improve operational efficiencies across our global footprint, said Mr. Tellock. We thank Mike for his contributions to our company and wish him well in his future endeavors. Meanwhile, our deep management bench and strong succession planning process provides a solid foundation to ensure a smooth transition and execute on our long-term strategy.
About The Manitowoc Company, Inc.
Founded in 1902, The Manitowoc Company, Inc. is a multi-industry, capital goods manufacturer with over 115 manufacturing, distribution, and service facilities in 26 countries. The company is recognized globally as one of the premier innovators and providers of crawler cranes, tower cranes, and mobile cranes for the heavy construction industry, which are complemented by a slate of industry-leading product support services. In addition, Manitowoc is one of the world's leading innovators and manufacturers of commercial foodservice equipment, which includes 24 market-leading brands of hot- and cold-focused equipment. In 2012, Manitowoc's revenues totaled $3.9 billion, with more than half of these revenues generated outside of the United States.
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