- Push-out Score determined
- After about two years in the position
- Praise and good wishes for Riley
- Eric Vaillancourt taking over temporarily
- Search for a successor
- Riley kept it short and said 28 words
(exechange) — Charlotte, North Carolina, August 3, 2021 — Marvin Riley, chief executive of EnPro, leaves — as “mutually agreed.” As announced by EnPro Industries Inc. in a news release and in a regulatory filing published on Tuesday, August 3, 2021, Marvin A. Riley has left his post as chief executive officer at the maker of materials science enabled products for technology intensive sectors after about two years in the role, effective August 2, 2021.
EnPro will undertake a search for a successor.
Marvin Riley’s duties as CEO will be taken over temporarily by Eric A. Vaillancourt, most recently President of Sealing Technologies at EnPro Industries Inc., as Interim Chief Executive Officer.
“We continue to transform”
EnPro did not give an explicit reason for Marvin Riley’s departure from the CEO post. David L. Hauser, Chairman of the Board, said: “Enpro is in a strong position today, having successfully shifted its focus to high-margin businesses and expanding capabilities in faster growing technology end-markets. With a clear strategic path ahead and a deep bench of talent, I am confident that we will build on our momentum as we continue to transform into a leading industrial technology company.”
Precise information regarding Marvin Riley’s future plans was not immediately available.
“Step down/resigned”
EnPro said: “The Company’s Board of Directors (the “Board”) and Marvin Riley have mutually agreed that Mr. Riley will step down as President and Chief Executive Officer and as a member of the Board, effective immediately.”
EnPro further said: “On August 2, 2021, the Board of Directors of EnPro Industries, Inc., (the “Company”) appointed Eric A. Vaillancourt, President of the Company’s Sealing Technologies segment, as Interim President and Chief Executive Officer, effective immediately. Mr. Vaillancourt succeeds Marvin A. Riley, who, by mutual agreement with the Board, has resigned from the positions of President and Chief Executive Officer of the Company and as a member of the Company’s Board of Directors on the same date, effective immediately.”
Share price increase since July 2019
The announcement follows an increase in EnPro Industries Inc.’s share price of 44% since July 2019. July 2019 is the month in which Riley’s tenure as CEO began.
In the position of CEO since 2019
Marvin Riley became CEO of the Company in 2019.
Riley has served as the Company’s Chief Executive Officer and President since July 29, 2019, having served as the Company’s Executive Vice President and Chief Operating Officer since July 2017.
Riley served as President of the Company’s Fairbanks Morse Engine division from May 2012 to May 2018.
Prior to that Riley served as Vice President, Manufacturing, of EnPro since December 2011.
Riley served as Vice President Global Operations of the Company’s GGB division from November 2009 until November 2011 and as Vice President Operations Americas, GGB division, from July 2007 until November 2011.
Prior to joining EnPro, Riley was an executive with General Motors Vehicle Manufacturing and held multiple positions of increasing responsibility from 1997 to 2007 within General Motors.
Riley received a B.S.E.E. in electrical engineering from Howard University and an M.B.A. from Johns Hopkins University and completed the Advanced Management Program at the Harvard Business School.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Marvin Riley’s move on a scale of 0 to 10.
exechange reached out to EnPro and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 32.2021 ($).