PITTSBURGH, Jan. 23, 2012/PRNewswire/ -- Pittsburgh, PA-based L.B. Foster Company (NASDAQ: FSTR) is pleased to announce the appointment of Robert P. Baueras President and Chief Executive Officer, and member of the Board of Directors, effective February 1, 2012. Mr. Bauer joins the company from Emerson Climate Technologies where he previously served as President of the Refrigeration Division, a business of Emerson Electric Co. Mr. Bauer also served as President of Emerson Network Power's Liebert Division.
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Lee B. Foster, Chairman of the Board, stated,
"Bob has a proven track record of increasing top line
and bottom line growth within a lean organizational
culture. In addition, he brings international as well as
M&A experience that will be essential to L.B.
Foster's future success."
"L.B. Fosterhas a rich history and a
solid foundation to build on," commented Bauer.
"I'm excited to join a professional team of nearly
900 talented and dedicated people and look forward to
leading and supporting them in our mission of becoming the
premier manufacturer and distributor in the markets we
serve."
Mr. Foster commented on the retirement of former CEO,
Stan Hasselbusch, "On behalf of the Board
of Directors, our management team and all of our employees,
I want to thank Stan for his many years of productive and
successful leadership and service to the company. Under his
direction, revenues and profits have dramatically expanded
while the company's operational effectiveness has
steadily improved. The resulting increase in shareholder
value has strengthened the company and benefited customers,
shareholders, officers and directors. We are proud to have
been associated with Stan and his administration and wish
him well in his retirement."
Mr. Hasselbusch, who previously announced his intention to
retire at the end of 2011, will continue to be available to
consult with the Board and the CEO on an as needed
basis.
About L.B. Foster Company
L.B. Foster Company is a leading manufacturer, fabricator
and distributor of products and services for the rail,
construction, energy and utility markets with locations in
North America
Contact:
Brian Kelly
Vice President, Human Resources
Phone: 412.928.3417
Email: Investors@lbfoster.com
SOURCE L.B. Foster Company
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