CHARLOTTE, N.C., Jan. 12, 2011 /PRNewswire/ -- EnPro Industries (NYSE: NPO) today announced that William Dries, senior vice president and chief financial officer, will retire from the company upon reaching age 60 on September 11, 2011. Alexander W. Pease, currently a partner with McKinsey & Co., has been named as his successor. Pease will join EnPro on February 28, 2011, as a senior vice president and will assume full responsibilities as chief financial officer following the company's annual meeting of shareholders on May 5, 2011.
Pease brings significant experience and functional depth to EnPro. At McKinsey, he has served a wide range of clients in North and South America, Europe and the Middle East. His principal expertise is in capital efficiency and risk management, as well as in corporate finance, and he has been instrumental in building McKinsey's practice in those areas. He is also on the leadership team of McKinsey's Energy and Materials Practice. Prior to joining McKinsey, Pease spent six years as a U.S. Navy SEAL Team leader, with a wide range of international operational experience in that environment. He is a graduate of the U.S. Naval Academy at Annapolis, and the Tuck School of Business at Dartmouth College.
"Alex has been a highly successful leader at McKinsey and comes to us with substantial knowledge of our markets and of areas that will be essential to EnPro as we continue to grow," said Steve Macadam, president and chief executive officer of EnPro. "He has developed and successfully executed corporate programs to improve capital allocation, acquisition strategy and risk management. He brings a thorough understanding of factors that influence valuation and financing strategies and of our continuous improvement initiatives for pricing, working capital optimization, supply chain management, commercial excellence and a lean enterprise. We welcome Alex to EnPro, and we are confident his skills and experience will be a valuable addition to our management team."
Macadam continued: "Bill's leadership and dedication as chief financial officer have been essential to our success over the nearly nine years that EnPro has been an independent company. He built a strong and highly capable finance team, and has led our finance organization with great skill and integrity. Bill's experience and insights were critical to establishing policies and controls that set the company on the right track as we were spun off from Goodrich, and he has been a key contributor to management decisions that allowed us to prosper in good times and to resume our growth as our markets have emerged from the weakest economic environment in many, many years. We are extremely grateful to Bill for his service to EnPro. We look forward to a smooth and orderly transition over the coming months as Alex moves into this important role."
About EnPro Industries
EnPro Industries, Inc. is a leader in sealing products, metal polymer and filament wound bearings, components and service for reciprocating compressors, diesel and dual-fuel engines and other engineered products for use in critical applications by industries worldwide. For more information about EnPro, visit the company's website at http://www.enproindustries.com.
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