Patrick Decker Steps Down as CEO and Harsco Director David Everitt Appointed Interim CEO
Company Reiterates 2014 Outlook and Remains On Track to Announce Results of Metals and Minerals Business Analysis by May 2014
Company to Hold Brief Conference Call at 10am Eastern Time TodayCAMP HILL, Pa., March 3, 2014 (GLOBE NEWSWIRE) -- Harsco Corporation (NYSE:HSC) today announced that Patrick K. Decker has stepped down as President and Chief Executive Officer and member of the Board of Directors, effective immediately, to become CEO of Xylem Inc. Harsco director David C. Everitt has been appointed Interim President and CEO and will continue as a member of the Board. Mr. Everitt has served as a member of the Board at Harsco since 2010 and brings significant senior executive experience to his new responsibilities. During his 37-year career with Deere & Company, he served as co-Leader of the Agriculture and Turf Division, that Company's largest operating division, and also held a number of other senior leadership positions. Mr. Everitt is also a member of the Board of Directors of Gates Corporation, Brunswick Corporation and Agrium Inc. "Patrick has led Harsco through a critical period of its transformation and, together with the leadership team and Board, has implemented a strategic plan to improve operating efficiency and position the Company for long-term growth," said Henry W. Knueppel, Chairman of Harsco's Board of Directors. "On behalf of the entire Board, I want to thank Patrick for his dedication and many contributions, which include spearheading our Infrastructure joint venture with CD&R, driving forward our Continuous Improvement and Simplification programs and beginning the strategic process to unlock value from our Metals & Minerals division. We wish him success in his new role. "We are pleased that Dave has agreed to assume the role of Interim President and Chief Executive Officer and are confident that his in-depth knowledge of Harsco and his expertise as a successful senior executive will allow us to effect a seamless transition as we search for a permanent CEO," continued Mr. Knueppel. "Dave has been a valuable member of our Board since 2010 and has served on the Audit and Management Development & Compensation Committees. His appointment reflects the careful attention and preparation the Board gives to ensuring leadership continuity in the event of unforeseen circumstances. Under his leadership, Harsco will continue to execute its strategic plan to turnaround the Metals & Minerals business, grow our Rail and Industrial platforms, and develop an active, lean corporate center."