Aaron H. Ravenscroft named president and CEO of crane manufacturer, effective immediately; he replaces Barry L. Pennypacker.
Latest In Manitowoc
Company transitioned to stand-alone crane business during the quarter.
Barry Pennypacker named president and CEO.
Sale helps company focus on core foodservice segment brands.
John Stewart appointed to position.
Company's third-quarter sales decline 12.5%
This change is in preparation for the spinoff of the company's foodservice business.
Company unveils plan to spin off foodservice, cranes divisions into separate entities.
Mark Beffel to retire as senior vice president of global operational excellence, succeeded by Josef Matosevic.
CEO: Sales decline reflects "muted demand" from uncertain global economy.
