Kennametal Inc. (NYSE:KMT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 8.01 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January16, 2018, the Board of Directors (the “Board”) of Kennametal Inc. (the “Company” or “Kennametal”) announced the appointment of Peter Dragich, age 54, to serve as Vice President and President, Industrial Business Segment and also appointed Ronald Port, age 53, to service as Vice President and President, Infrastructure Business Segment. Both appointments are effective January16, 2018. Mr.Dragich and Mr.Port will report to Kennametal President and Chief Executive Officer Christopher Rossi.
Mr.Dragich succeeds CharlesM. Byrnes, the Company’s Vice President and President, Industrial Business Segment, who left the Company on January15, 2018 to pursue other interests after serving in the role since December7, 2015.
Mr.Dragich has been with the Company serving in various executive roles since October 2012. Mr.Dragich most recently held the role of Vice President and President, Infrastructure Business since October 2015 and prior to that Vice President Integrated Supply Chain and Logistics from October 2012 to October 2015. Prior to joining the Company, Mr.Dragich was Vice President, Global Field Operations, Climate, Controls and Security for United Technologies Corporation. He also served in several manufacturing management positions at Ford Motor Company.
Mr.Port will be assuming the role as Vice President and President, Infrastructure Business Segment as successor to Mr.Dragich, who most recently served in this role.
Mr.Port has been with the Company since April 2015, serving in the role of Vice President, Engineered Components. Previously, Mr.Port was the Vice President Strategic Marketing and Business Development for SPX FLOW from September 2013 to April 2015. Prior to this, Mr.Port held various positions in exceeding responsibilities for Xylem Water Solutions (formerly ITT Corporation) from December 2006 to September 2013 including roles as Vice President and Managing Director of business units in the US, China and India. Prior to its sale to ITT in 2006, Mr.Port led various positions in marketing, sales and general management at the F.B. Leopold Company from 1993 through 2006.
Mr.Dragich will not enter into any new agreements with the Company in connection with his new role. Mr.Port will enter into the standard form of Indemnification Agreement with the Company.
Item 8.01 Other Events.
On January16, 2018, the Company issued a press release announcing Mr.Dragich’s appointment as Vice President and President, Industrial Business Segment and Mr.Port’s appointment as Vice President and President, Infrastructure Business Segment. A copy of this press release is attached hereto as Exhibit 99.1.
Item 8.01 Financial Statements and Exhibits.
(d) Exhibits.
KENNAMETAL INC ExhibitEX-99.1 2 d521901dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE: DATE: January 16,…To view the full exhibit click here
About Kennametal Inc. (NYSE:KMT)
Kennametal Inc. is a supplier of tooling, engineered components and materials consumed in production processes. The Company operates through two segments: Industrial and Infrastructure. The Industrial segment generally serves customers that operate in industrial end markets, such as transportation, general engineering, aerospace and defense. The Infrastructure segment generally serves customers that operate in the earthworks and energy sectors supporting primary industries, such as oil and gas, power generation, underground, surface and hard-rock mining, highway construction and road maintenance. It provides wear-resistant products, application engineering and services backed by material science serving customers across various sectors. The Company’s product offerings include a selection of standard and customized technologies for metalworking, such as metal cutting tools, tooling systems and services, as well as materials, such as cemented tungsten carbide products and super alloys.