Wabtec Names Albert Neupaver Executive Chairman, Promotes Raymond Betler As CEO

(RTTNews) - Wabtec Corp. (WAB) said it has named Albert Neupaver executive chairman and promoted Raymond Betler to president and chief executive officer or CEO, effective today, May 14, 2014. Betler was also appointed to the Wabtec Board of Directors.

Commenting on Neupaver, the company said he has served as Wabtec's chairman and CEO for the past year, after joining the company as president and CEO in 2006.

Betler joined Wabtec in 2008 and has served as president and chief operating officer or COO for the past year, the company stated.

Separately, Wabtec increased its regular quarterly dividend to $0.06 per share, from $0.04 per share. The new dividend rate will be payable initially Aug. 29, 2014 to shareholders of record Aug. 15, 2014.