Photo Release -- Harsco Corporation Appoints F. Nicholas Grasberger President
and COO in Planned Transition to President and CEO Position by Mid-Year 2014
David Everitt to Remain Interim CEO to Provide Seamless Transition; Company
Initiates Chief Financial Officer Search to Succeed Grasberger
CAMP HILL, Pa., April 8, 2014 (GLOBE NEWSWIRE) -- Harsco Corporation
(NYSE:HSC) today announced that the Board of Directors has unanimously
selected F. Nicholas Grasberger as the Company's President and Chief Operating
Officer, effective immediately. The appointment is the first step in a planned
transition during which Mr. Grasberger will continue his duties as Chief
Financial Officer while the search for his successor in that role is
conducted, and will become the Company's President and Chief Executive Officer
by mid-year 2014 once this process is complete.
F. Nicholas Grasberger
F. Nicholas Grasberger
A photo accompanying this release is available at
To assure solid operating continuity and a seamless transition in these key
leadership positions, David Everitt, who has been serving as Interim President
and Chief Executive Officer since March 1, 2014, will continue as Interim
Chief Executive officer until Mr. Grasberger assumes the Chief Executive
"Since joining us last year, Nick has continually demonstrated his ability to
be a driving force of positive change in our organization," said Henry W.
Knueppel, Chairman of Harsco's Board of Directors. "Nick co-authored the
strategy we are executing; he has gained the respect of our organization and
our key shareholders; and he has delivered on several significant objectives
during his first year. We are confident he has the capabilities, vision and
broad industry knowledge necessary to lead our company into its next bright
era of significant financial and operational growth.
"I also want to thank Dave Everitt for his continuing dedication and
commitment to Harsco," Mr. Knueppel continued. "His willingness to continue to
serve as Interim CEO will allow Nick to seamlessly transition into his new
responsibilities with the first-hand benefit of Dave's substantial wisdom and
perspective, both as a business leader and a continuing member of the Board."
Mr. Grasberger has served as Senior Vice President and Chief Financial Officer
of the Company since April 2013. During that time, he has helped spearhead
many of the Company's key corporate initiatives, led by its successful efforts
to create a joint venture with Clayton, Dubilier & Rice for the Company's
Infrastructure business. He has also been instrumental in the Company's
Simplification-based turnaround plans for its Metals & Minerals business,
which focus on improving operating efficiencies, strengthening revenue growth
opportunities, and enhancing its financial return profile.
"I am honored to be selected as the next President and CEO of Harsco," said
Mr. Grasberger. "Over the past year, I have come to fully appreciate the
considerable potential of this company to deliver significant value for our
shareholders and enhanced service to our customers. I look forward to updating
the market on our outlook this coming May during our first quarter earnings
call as we review our further progress on our Simplification initiatives and
continue to drive Harsco's transformation."
Mr. Grasberger has a nearly 30-year executive background in both finance and
operations.Prior to joining Harsco, he served as the Managing Director of the
multinational Precision Polymers Division of Fenner Plc, one of the world's
leading producers of heavyweight belting for a range of industrial and
commercial markets. Before Fenner, he held senior executive positions at
Armstrong Holdings, Inc., the then-parent company of Armstrong World
Industries, first as Chief Financial Officer and subsequently as the CEO of
the company's Building Products division. Prior to his roles at Armstrong, Mr.
Grasberger was the Chief Financial Officer for Kennametal, Inc. and the
Corporate Treasurer and director of corporate planning at H. J. Heinz Company.
He began his career in 1985 with USX Corporation.He holds a bachelor's degree
in business from the University of Notre Dame and a master's degree in
business administration from the University of Pittsburgh.
The Company announced that it has initiated a formal search process with a
leading executive search firm for Mr. Grasberger's successor as Chief
Harsco Corporation serves key industries that play a fundamental role in
worldwide economic development, including steel and metals production,
railways and energy. Harsco's common stock is a component of the S&P MidCap
400 Index and the Russell 1000 Index. Additional information can be found
The photo is also available at Newscom, www.newscom.com, and via AP
CONTACT: Investor Contact
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