- Push-out Score determined
- After about five years in the position
- Praise, thanks and good wishes for Maskara
- Andy Butcher taking over
- Maskara kept it short and said 53 words
(exechange) — Milwaukee, Wisconsin, March 23, 2022 — Alok Maskara, chief executive of Luxfer, leaves. As announced by Luxfer Holdings Plc in a news release and in a regulatory filing published on Wednesday, March 23, 2022, Alok Maskara leaves his post as chief executive officer at the industrial company innovating niche applications in materials engineering, after about five years in the role, effective May 6, 2022.
Alok Maskara’s duties as CEO will be taken over by Andrew (Andy) Butcher, currently President of Gas Cylinders at Luxfer Holdings Plc.
Career change
Alok Maskara’s departure from the CEO post is explained as follows. Luxfer said: “Alok Maskara, who has served as CEO and Executive Director since May 2017, has elected to leave the Company in pursuit of another opportunity.”
Maskara will be CEO at Lennox
“Lennox International Inc. (NYSE: LII), a global leader in energy-efficient climate control solutions, has appointed Alok Maskara as chief executive officer effective on May 9, 2022. Mr. Maskara succeeds Todd Bluedorn, who announced in July 2021 his plans to step down by mid-2022 as Chairman and CEO after 15 years in the role,” Lennox said.
Lennox announced the move on Wednesday, March 23, 2022.
Lennox is a specialist in climate control products.
“Not due to any disagreement”
“Mr. Maskara’s resignation from the Company was not due to any disagreement with the Company, and Mr. Butcher’s appointment is consistent with the Company’s established succession plan,” Luxfer said.
Share price increase since March 2019
The announcement follows an increase in Luxfer Holdings Plc’s share price of 2% since March 2019.
In the position of CEO since 2017
Alok Maskara became CEO of the Company in 2017.
Alok Maskara was named Chief Executive Officer designate of Luxfer and was appointed to the Board of Directors on May 23, 2017.
He became Luxfer’s Chief Executive Officer on July 1, 2017.
Since joining Luxfer, Maskara has led significant growth and transformation initiatives across the Company. He has changed the structure of the public listing and instituted new corporate governance policies, which enabled the Company to join the Russell 2000 index in 2019.
Maskara has over twenty-five years of leadership experience in multiple manufacturing and technology industries, including advanced materials, water and flow technologies, and electrical protection.
Before joining Luxfer, he was a business segment President at Pentair Plc, a water solutions company, for eight years, where he led businesses of progressively larger sizes.
During his time at Pentair, he delivered organic growth in mature industries while also successfully completing multiple global acquisitions, divestures, and joint ventures.
Prior to Pentair, Maskara was with General Electric Corporation, an industrial manufacturing company, where he gained significant experience in Lean Manufacturing through his leadership of an executive corporate initiative group focused on Lean.
He subsequently led a stand-alone business unit in the water industry, which was later sold to Pentair.
Maskara also worked at McKinsey & Company, a management consultant firm, in both their Chicago and Amsterdam offices.
While at McKinsey, he advised businesses on industrial turnarounds and driving growth through customer insights and segmentation.
Maskara is a co-author of nine patents in advanced materials.
He holds an M.B.A. from the J.L. Kellogg Graduate School of Management at Northwestern University, an M.S. in Chemical Engineering from the University of New Mexico, and a Bachelor of Technology degree in Chemical Engineering from the Indian Institute of Technology, Mumbai.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Alok Maskara’s move on a scale of 0 to 10.
exechange reached out to Luxfer and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 13.2022 ($).