The Manitowoc Co. has announced that Aaron Ravenscroft, currently the company’s executive vice president of Cranes, has been appointed president and CEO, and a member of the Board of Directors, effective immediately.
Ravenscroft succeeds Barry Pennypacker, who is stepping down from his role as president and chief executive officer and as a member of the board as part of the company’s leadership transition plan. Pennypacker will continue to serve the company in an advisory role through Dec. 31.
Ravenscroft joined Manitowoc in March 2016, and has been responsible for the company’s Cranes business globally, including Mobile and Tower cranes. In his role as executive vice president of Cranes, Ravenscroft has led efforts to improve product quality and customer service, and enhance operational efficiency and profitability. In addition to his understanding of Manitowoc’s core business, he brings more than 17 years of extensive operational, sales and marketing, and international leadership experience in the industrial and engineered equipment products space, to the position of CEO.