Ingersoll-Rand announces that Steve Shawley, senior vice president and chief financial officer, plans to retire later this year after a career spanning 39 years, including 20 years with Ingersoll Rand and Thermo King, a brand of Ingersoll Rand.
The company is conducting a search for his successor, and Shawley will continue in his current role until a successor is named and a seamless transition has taken place, which is planned before the end of the year, the company says.
“It has been my privilege and honor to know and work with Steve for the past nine years,” says Michael W. Lamach, chairman and CEO. “Steve has been a key part in the company’s growth and success, giving endlessly of his time and talents to strengthen the company. We will miss his guidance and leadership, but we know the strong teams, culture and financial discipline he developed will shape Ingersoll Rand for years to come.”
“I am fortunate to have been part of Ingersoll Rand – the people, the brands and the business around the world make this company a remarkable place to learn and grow,” Shawley says. “Ingersoll Rand has a bright future, and I look forward to watching it succeed as I spend more time with my family and pursue other personal interests. I will work with Mike, the board and the management team to ensure a smooth and effective transition.”