New president and CEO for Manitowoc Cranes

Barry Pennypacker has been appointed Manitowoc Cranes president and chief executive officer.

Pennypacker reports to Kenneth Krueger, interim chairman and chief executive officer of the parent company the Manitowoc Company. Larry Weyers, current president of Manitowoc Cranes, will continue with the company as executive vice president of Manitowoc Cranes, the company said.

When the previously announced Manitowoc Foodservice division sell off is complete the Manitowoc Company will change its name to Manitowoc Cranes, Inc. Pennypacker will then be president and chief executive officer of Manitowoc Cranes and Krueger will serve as Chairman of the Board of Manitowoc Cranes, Inc.

Commenting on the appointment, Krueger said, “Barry brings a fresh perspective to the Manitowoc Cranes business. His results-focused leadership style has led the transformation of several complex businesses through continuous process improvements, which delivered significant operational and financial performance improvements and increased shareholder value. Furthermore, Barry’s deep industrial expertise, coupled with the successful execution of numerous lean initiatives throughout his career, makes him an excellent candidate to build on Manitowoc Cranes’ leading market positions to return the business to growth and improved profitability.”

Most recently, Pennypacker was founder, president, and chief executive officer at Quantum Lean LLC, a privately held manufacturer and supplier of precision components. Before that he was president and chief executive officer, as well as a director, at Gardner Denver, Inc., a manufacturer and marketer of engineered industrial machinery, parts and services. Prior to Gardner Denver Pennypacker was at Westinghouse Air Brake Technologies Corporation, at The Stanley Works, and at Danaher Corporation.

Pennypacker holds a Bachelor of Science degree in operations management from Pennsylvania State University in the USA and an M.B.A. in operations research from St. Joseph’s University.