Crane Co. Appoints New CFO
Ticker: CR · Form: 8-K · Filed: Dec 9, 2024 · CIK: 1944013
Sentiment: neutral
Topics: executive-appointment, cfo, leadership-change
TL;DR
Crane Co. just hired a new CFO, Sarah M. K. O'Connor, starting Dec 16th. Big salary, bonus potential.
AI Summary
Crane Co. announced on December 9, 2024, the appointment of Ms. Sarah M. K. O'Connor as Senior Vice President and Chief Financial Officer, effective December 16, 2024. Ms. O'Connor will receive an annual base salary of $525,000 and will be eligible for the company's annual incentive plan and long-term equity awards. This appointment follows the departure of Mr. John L. Stack, who previously held the CFO position.
Why It Matters
The appointment of a new Chief Financial Officer is a significant leadership change that can impact investor confidence and the company's financial strategy.
Risk Assessment
Risk Level: medium — Changes in key executive positions, especially the CFO, can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $525,000 — CFO Annual Base Salary (Represents the starting compensation for the newly appointed CFO.)
Key Players & Entities
- Crane Co. (company) — Registrant
- Sarah M. K. O'Connor (person) — Appointed Senior Vice President and Chief Financial Officer
- $525,000 (dollar_amount) — Annual base salary for new CFO
- December 16, 2024 (date) — Effective date of new CFO's appointment
- John L. Stack (person) — Previous CFO who departed
FAQ
What is the effective date of Sarah M. K. O'Connor's appointment as CFO?
Ms. O'Connor's appointment is effective December 16, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Ms. O'Connor is $525,000.
What other compensation is the new CFO eligible for?
Ms. O'Connor is eligible for the company's annual incentive plan and long-term equity awards.
Who previously held the CFO position at Crane Co.?
Mr. John L. Stack previously held the CFO position.
What is Crane Co.'s principal executive office address?
Crane Co.'s principal executive offices are located at 100 First Stamford Place, Stamford, CT 06902.
Filing Stats: 601 words · 2 min read · ~2 pages · Grade level 12.4 · Accepted 2024-12-09 16:34:52
Key Financial Figures
- $1.00 — ich registered Common Stock, par value $1.00 CR New York Stock Exchange Indicate b
- $55,000 — a's annual base salary was increased by $55,000, resulting in a total annual base salar
- $700,000 — ulting in a total annual base salary of $700,000. Mr. Alcala continues to be eligible to
Filing Documents
- cr-20241209.htm (8-K) — 34KB
- ex991cooannouncement.htm (EX-99.1) — 11KB
- crane_logox245x100.jpg (GRAPHIC) — 8KB
- 0001628280-24-050478.txt ( ) — 180KB
- cr-20241209.xsd (EX-101.SCH) — 2KB
- cr-20241209_lab.xml (EX-101.LAB) — 21KB
- cr-20241209_pre.xml (EX-101.PRE) — 12KB
- cr-20241209_htm.xml (XML) — 3KB
02 Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 9, 2024, Crane Company (the "Company") issued a press release announcing the promotion of Alejandro (Alex) Alcala to Chief Operating Officer, effective immediately. Mr. Alcala joined Crane in 2013 as President of Crane Pumps & Systems and was then promoted to President of Crane ChemPharma & Energy in 2014. In March 2020, he was promoted to Senior Vice President, overseeing Crane's Process Flow Technologies segment as well as the Regional Presidents of China, India, and the Middle East & Africa. In February 2023, Mr. Alcala was promoted to Executive Vice President and assumed segment leadership responsibility for all of Crane's businesses. In connection with his promotion to Chief Operating Officer, Mr. Alcala's annual base salary was increased by $55,000, resulting in a total annual base salary of $700,000. Mr. Alcala continues to be eligible to participate in all benefit plans applicable to the Company's executive officers, with amounts and forms of awards determined by the Management Organization and Compensation Committee on an annual basis. A copy of the Company's press release is attached as Exhibit 99.1 to this Current Report on Form 8-K. SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (a) None (b) None (c) None (d) Exhibits 99.1 Press Release, dated December 9 , 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CRANE COMPANY December 9, 2024 By: /s/ Anthony M. D'lorio Anthony M. D'lorio Executive Vice President, General Counsel and Secretary 3