Actuant CEO Robert Arzbaecher To Retire In Jan 2014.; Goldstein Named Successor

(RTTNews) - Industrial products and systems maker Actuant Corp. (ATU) has announced Robert Arzbaecher's decision to retire as President and Chief Executive of the company, effective at the Annual Shareholders Meeting in January 2014. He would remain as Chairman of the board. In turn, Mark Goldstein, currently Chief Operating Officer or COO, would assume the President role immediately and was added to the board. He would become chief executive upon Arzbaecher's retirement in January.

Talking about Bob Arzbaecher's accomplishments, the firm said: "During his thirteen years, the stock price of Actuant has grown from $3.75 at the spin to just over $36 on a comparable split adjusted basis." Goldstein joined Actuant in 2001 and was named COO in 2007.