Manitowoc Announces Foodservice Management Transition
Kachmer resigns; Tellock to serve as interim president
MANITOWOC, Wis. -- The Manitowoc Co. Inc. has 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 CEO Glen Tellock will lead the foodservice segment on an interim basis while the company searches for Kachmer's successor.
Kachmer joined Manitowoc in February 2007 as senior vice president, succeeding the retiring Timothy Kraus as president of Manitowoc Foodservice in April 2007. Previously, he served as chief operating officer at Culligan International Co. Before that, he held executive and operations posts at Ball Corp. and Firestone Tire & Rubber.
Prior to his current responsibilities, Tellock served as president and CEO; as senior vice president of the corporation and president of Manitowoc's crane segment; as senior vice president and chief financial officer; as vice president of finance and treasurer; as corporate controller; and as director of accounting. Prior to joining Manitowoc, he served as financial planning manager for the Denver Post Corp. and as audit manager for Ernst & Whinney.
"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 Tellock. "We thank Mike for his contributions to our company and wish him well in his future endeavors.
He added, "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."
The Manitowoc, Wis.-based company is considering several strong internal candidates to serve as president of Manitowoc Foodservice, New Port Richey, Fla., on a permanent basis, it said.
Founded in 1902, Manitowoc is a multi-industry, capital goods manufacturer with more than 115 manufacturing, distribution and service facilities in 26 countries. The company is a leading global providers of cranes for the heavy construction industry. 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.