STAMFORD, CT -- Max H. Mitchell is Crane Co.'s new chief executive, effective Jan. 31. He succeeds Eric C. Fast, who has retired. Crane announced the succession plan last April.
The leadership change comes on the heels of Crane Co.'s $804 million acquisition of MEI Conlux Holdings, which closed in December.
Mitchell, 50, was also elected to Crane's board of directors. He joined Crane in 2004 as vice-president of operational excellence, was promoted to president of fluid handling in 2005, became executive vice-president and chief operating officer in 2011, and was appointed president of Crane Co. in January 2013.
Prior to joining Crane, Mitchell had successive management roles with Pentair, Danaher and Ford Motor Co.
Eric Fast joined Crane in 1999 as president and chief operating officer, and was promoted to chief executive in January 2001.
Mitchell will provide an update on the company's strategic objectives at its investor day on Feb 27.
Crane Co. describes itself as a diversified manufacturer of highly engineered industrial products. Its Crane Merchandising Systems division produces vending machines under the brands National Vendors, Dixie-Narco, Automatic Products, GPL and Stentorfield. The vending segment also includes Streamware, which develops and markets vending management software. Its payment systems brands include CashCode, Money Controls, NRI (National Rejectors Inc.) and Telequip, and now MEI.