Crane Company Director Resigns, Stock Drops 3.2%

Crane Company (NYSE: CR) has announced the resignation of John S. Stroup from its board of directors, effective as of July 22, 2024. Stroup, a current member of the company’s board, is stepping down due to additional professional commitments, including his election to partner at Clayton, Dubilier & Rice, a private investment firm.

During his tenure, Stroup provided thoughtful insights and valuable contributions as the company completed several transformative transactions that led to significant value creation for its shareholders.

Max H. Mitchell, Chairman of the Board, President, and CEO of Crane Company, expressed gratitude for Stroup's guidance and leadership on the board, wishing him well in his future endeavors. Mitchell also congratulated Stroup on his new role at Clayton, Dubilier & Rice, expressing confidence in his continued success in building strong and profitable companies.

Crane Company, founded in 1855, is a leading manufacturer of highly engineered components for challenging, mission-critical applications in the aerospace, defense, space, and process industry end markets. The company comprises two strategic growth platforms * Aerospace & Electronics and Process Flow Technologies * as well as the Engineered Materials segment. With approximately 7,000 employees across the Americas, Europe, the Middle East, Asia, and Australia, Crane Company continues to deliver innovation and technology-led solutions for its customers. As a result of these announcements, the company's shares have moved -3.2% on the market, and are now trading at a price of $142.57. If you want to know more, read the company's complete 8-K report here.

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