Posted February 9, 2024

CFO change at Enerpac Tool Group 

Enerpac Tool Group Corp. announced that Anthony Colucci is stepping down as executive vice president and chief financial officer to assume an executive role at a private equity firm. He will remain as CFO through March 1 to assist with the transition.

The company has initiated a comprehensive search to identify Enerpac’s next CFO and has retained a leading executive search firm to assist with the process. In the interim, P. Shannon Burns has been appointed as interim principal financial officer and Patrick Dawson has been appointed as interim principal accounting officer.

"Since joining Enerpac, Tony has been a valued partner in the successful implementation of our ASCEND transformation program, which reached the expected benefits a year ahead of plan and has enabled us to create a far more efficient, productive, and profitable enterprise," said President and CEO Paul Sternlieb. "On behalf of the Enerpac Board and management team, I want to thank Tony for his contributions and wish him all the best in his new position.”

“I am very proud of what we have accomplished in terms of Enerpac’s significant operational and financial improvements, as well as the talented team we have built," said Colucci. "I believe Enerpac is well positioned for the future, and I wish the team continued success as they execute on the exciting growth strategy.”

P. Shannon Burns is a seasoned finance executive who joined Enerpac in November 2022 as the head of the business decision support office. Prior to joining Enerpac, he served in financial leadership roles at Harley-Davidson, Inc., including three years as head of investor relations. He has also held positions at Molson Coors, Ernst & Young, and Ameriprise. Burns holds a Bachelor’s degree in Accounting from the University of Wisconsin-Oshkosh and is a graduate of Marquette University’s Executive MBA program.

Patrick Dawson started his career with Enerpac in November 2022 as the corporate controller. Prior to joining Enerpac, he held positions as the director of accounting at INNIO Waukesha and as corporate controller at Epic Systems Corporation. Dawson began his career in public accounting with Deloitte. He holds a Bachelor of Business Administration in Accounting and a Masters of Accountancy from the University of Wisconsin-Madison. He is a licensed CPA in the state of Wisconsin.

The company stated that Colucci’s departure does not reflect any disagreement with, or the existence of any irregularities in the company’s operations, policies, accounting principles, practices, financial statements or disclosures.