Crane Co. (NYSE: CR), Stamford, CT, a diversified manufacturer of highly engineered industrial products, announced that Eric C. Fast, CEO, will retire from Crane Co. in January 2014. Fast joined Crane in 1999 as president and COO and was promoted to CEO in January 2001. He will be succeeded by Max H. Mitchell, current president and COO.
Mitchell joined Crane in 2004 as vice president of operational excellence. He was promoted to president of fluid handling in 2005, became executive vice president and COO in 2011, and was appointed president of Crane Co. in January 2013. Fast will remain a member of the board of directors until January 2014, and Mitchell will replace him on the board at that time.
Crane Co. has four business segments: Aerospace & Electronics, Engineered Materials, Merchandising Systems and Fluid Handling. The manufacturer has 11,000 employees in North America, South America, Europe, Asia and Australia.