Actuant names new CEO
Actuant Corporation announced that Randal W. Baker has been named president and chief executive officer, effective immediately.
In addition to this move, independent director, Robert A. Peterson, was named chairman of the board, replacing Robert C. Arzbaecher who will remain a member of the board. Peterson has been on the Actuant board since 2003, and has been Actuant’s lead independent director since 2015.
“We are excited to welcome Randy to Actuant,” said Peterson. “He brings a wealth of experience from a variety of leadership roles in multiple industrial companies with revenues and complexity greater than Actuant. His demonstrated success in driving new product development and strong organic growth, along with superior customer and global market knowledge, was a differentiator to Actuant’s CEO search committee. He is a proven, results-oriented leader with the strategic, operational and talent development skills required to inspire the organization and deliver shareholder value.”
Baker has nearly 30 years of industrial experience. From 2009 to 2015 he was with Joy Global Inc., most recently as chief operating officer. Prior to Joy, he was an executive with Case New Holland from 2004 to 2009, holding a variety of roles including president and CEO of its agriculture equipment business. Prior to CNH, Baker had roles at Komatsu America Corporation, Ingersoll-Rand, and Sandvik Corporation.
“Actuant is a great industrial company with outstanding diversity, market-leading brands and technologies as well as deep and long-standing customer relationships,” said Baker. “I am humbled to be given the opportunity to lead it going forward and to help deliver superior results for stakeholders.”