Hillenbrand CEO Retiring At End Of Year, Successor Appointed
The parent company of Batesville Casket Company is getting a new CEO. Hillenbrand President Joe Raver says he'll retire at the end of the year.
Raver has led the company since 2013. Joe Loughrey, Hillenbrand chairperson, calls Raver a strategic leader.
"During his tenure, he played a significant role in transforming the company from a $600 million death care business in North America to the approximately $2.5 billion global diversified industrial company it is today. In addition, Joe has been instrumental in the evolution of the Hillenbrand Operating Model and the company's inorganic growth strategy, including the transformative acquisitions of Coperion and Milacron," says Loughrey.
The company's board is appointing Kimberly Ryan as his successor. She takes over on Jan. 1, 2022. In the meantime she'll serve as executive vice president. The company says the transition process is underway.
"It has been an honor to serve as CEO of Hillenbrand during this period of transformation and growth, and I want to offer my sincere thanks to our employees whose hard work and dedication have allowed us to achieve so much," says Raver in a release.
"I have worked with Kim for many years and am confident she will be an excellent leader for Hillenbrand. I look forward to working closely together for the balance of the year to ensure a smooth transition."
Ryan joined Batesville Casket in 1989. She's held numerous roles, including president of Batesville Casket and Coperion, Hillenbrand's largest business.
According to the Cincinnati Business Courier, Ryan becomes the first female public company CEO in the region in three years. The last being Andrea Ayers, who led Convergys Corp. until it was acquired in 2018.
Based in Batesville, Ind., Hillenbrand is the region's seventh largest public company with around $2.5 billion in annual revenue. It describes itself as a "global diversified industrial company with businesses that serve a wide variety of industries around the world."
It operates Milacron Injection Molding & Extrusion and Mold-Masters, in addition to Batesville and Coperion.