The Manitowoc Company, Inc. (NYSE: MTW) today announced the appointment of David J. Antoniuk as vice president and chief financial officer, effective May 31, 2016. The company has also announced that Carl J. Laurino has resigned as senior vice president and chief financial officer effective May 31, 2016, to pursue other opportunities. Mr. Laurino will continue with the company until the end of June to ensure an orderly transition throughout the accounting, treasury and information systems organizations.

"I want to thank Carl for his commitment, contributions, and support to the organization over the last 16 years. Among many other accomplishments throughout his tenure, he was a driving force in the split of the organization into two publicly held companies. On behalf of the Board of Directors and the rest of the management team, we wish him well in all his future endeavors," commented Barry L. Pennypacker, president and chief executive officer of The Manitowoc Company.

"At the same time, I would like to welcome David to the team. He is a strong leader with a track record of increasing shareholder value by enhancing profitability and operational cash flows while maintaining robust internal financial controls. His financial and operational expertise will prove invaluable as we implement our strategic priorities and position the business for long-term success," concluded Pennypacker.

Mr. Antoniuk joins Manitowoc from Colorcon, Inc., where he served as vice president and chief financial officer. He started with KPMG in 1979, holding positions of increasing responsibility throughout his career and was the vice president and corporate controller at Gardner Denver prior to Colorcon. Mr. Antoniuk began his career at KPMG after earning a B.S. degree in business administration from Seton Hall University.

About The Manitowoc Company, Inc.

Founded in 1902, The Manitowoc Company, Inc. is a leading global manufacturer of cranes and lift solutions with 49 manufacturing, distribution, and service facilities in 20 countries. Manitowoc is recognized as one of the premier innovators and providers of crawler cranes, tower cranes, and mobile cranes for the heavy construction industry, which are complemented by a slate of industry-leading aftermarket product support services. In 2015, Manitowoc's revenues totaled $1.9 billion, with over half of these revenues generated outside the United States.

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