HARSCO NAMES TYCO EXECUTIVE PATRICK K. DECKER AS PRESIDENT AND CHIEF EXECUTIVE OFFICER
July 31, 2012
CAMP HILL, PA (July 31, 2012) . . . Diversified global industrial services and engineered products company Harsco Corporation (NYSE: HSC) announced today that Patrick K. Decker will be joining the Company on September 10, 2012 as President and Chief Executive Officer.
Mr. Decker will succeed Henry W. Knueppel, who has been serving since February 2012 in the capacity of Interim Chairman and Chief Executive Officer. With Mr. Decker’s arrival, Mr. Knueppel will serve as the Company’s independent, non-executive Chairman of the Board, following a decision by the Company’s Board of Directors to separate the roles of Chief Executive Officer and Chairman.
Mr. Decker, 47, joins Harsco from Tyco International Ltd. where he has served as President of Tyco Flow Control, Tyco’s second largest business segment, for the past five years. Tyco Flow Control is a multi-industry global leader in engineered valves and controls, heat management solutions and large-scale water infrastructure projects for industry, serving the global oil and gas, power, water, mining, process and construction sectors. The group recorded revenues of approximately $3.6 billion in 2011 and conducts business in approximately 100 countries. Earlier this year, Tyco announced plans to combine its Flow Control business with Pentair, Inc. in a merger expected to close at the end of September 2012.
Mr. Decker joined Tyco in 2003, having served previously with Bristol-Myers Squibb Company where he held international roles in finance, business development and information technology. With Tyco, Mr. Decker first served as Chief Financial Officer of its Tyco Plastics and Adhesives group before his promotion to Chief Financial Officer of Tyco’s Engineered Products and Services industrial division. He advanced to President of Tyco Flow Control in 2007. In that role, he successfully transformed the group’s global operations to better align with its customers and to drive greater operational efficiencies. The business achieved faster than market growth, delivered improved operating and financial performance and accelerated its emerging market penetration while also developing strong internal systems for employee development and leadership. Mr. Decker holds a B.S. in Accounting/Finance from Indiana University.
Announcing the appointment, Mr. Knueppel said, “We are fortunate to secure a talented and energetic leader like Patrick at the right time to take Harsco to new heights. He is that exceptional individual who combines discipline and metrics with big picture thinking and action.”
Mr. Decker added, “I feel honored to have the opportunity to lead this company and its talented and dedicated people around the world who provide critically important value-added solutions to customers in some of the world’s most vital end markets.”
Harsco Corporation serves key industries that play a fundamental role in worldwide economic progress, including steel and metals production, construction, 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 at www.harsco.com.
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