The Manitowoc Company, Inc. 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 CEO role. Chairman and CEO Glen Tellock will lead the foodservice segment on an interim basis while the company searches for Mr. Kachmer’s successor. Several strong internal candidates are being considered to serve as president of foodservice on a permanent basis.
“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,” says Mr. Tellock. “We thank Mike for his contributions to our company and wish him well in his future endeavors. 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.”