Rotork names Kevin Hostetler as its new CEO as engineering group looks to turn corner
Rotork, the leading British engineering group, has appointed Kevin Hostetler as its new Chief Executive Officer.
The company has been on the lookout for a new CEO since previous incumbent Peter France stepped down from the role after nine years last July.
Hostetler joins from FDH Velocitel, a United States-based engineering consultancy that he is credited with turning around the fortunes of over the last three years.
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Previously, Rotork's new boss had lengthy spells at Ingersoll Rand and IDEX Corporation, where he held leadership roles that resulted in double-digit growth and improved strategic development.
Rotork has struggled to maintain high growth in recent years, warning shareholders in November that a sustained investment programme would be needed to ensure progress. Hostetler will start his new role in March.
"I am delighted that we have secured Kevin as our new chief executive," said Rotark's non-executive chairman Martin Lamb, who had been standing in as acting CEO.
"He has an impressive track record of delivering profitable growth in a number of highly respected and innovative global engineering businesses, with significant experience in the flow control sector.
"Kevin adopts leading edge practices and processes honed at Ingersoll Rand, and has delivered transformational growth for shareholders at IDEX Corp, a flow control business with highly engineered products and strong customer service requirements serving similar end markets to Rotork."
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