08:38 AM EDT, 08/13/2025 (MT Newswires) -- Carpenter Technology ( CRS ) said Wednesday its board of directors has elected cmpany President and Chief Executive Officer Tony Thene chairman, effective Oct. 7.

Thene will succeed I. Martin Inglis, who will not stand for reelection when his term ends at the company's 2025 annual stockholders meeting, the company said.

Carpenter Technology ( CRS ) also said Brian Malloy, senior vice president and chief operating officer, will be promoted to president and COO on the same day.

In addition, the company said Steven Ward, chair of the board's corporate governance committee, will become lead independent director Oct. 7, as well.