Batesville-based Hillenbrand Inc. (NYSE: HI) has announced President and Chief Executive Officer Joe Raver plans to retire at the end of the year and that Kimberly Ryan has been appointed to succeed him as CEO in January. Hillenbrand says Ryan is now executive vice president and will have a seat on the company’s board of directors following Raver’s retirement.
Hillenbrand Chairperson Joe Loughrey says the company has seen major growth under Raver’s tenure, which began in 2013.
“During his tenure, he played a significant role in transforming the Company from a $600 million death care business in North America to the approximately $2.5 billion global diversified industrial company it is today. In addition, Joe has been instrumental in the evolution of the Hillenbrand Operating Model and the Company’s inorganic growth strategy, including the transformative acquisitions of Coperion and Milacron,” said Loughrey.
Ryan joined the company in 1989 and has held several roles, including president of Batesville Casket Company and Coperion, which is Hillenbrand’s largest business.
“I want to thank Joe Raver for his distinguished leadership at Hillenbrand and also the board for its confidence in me as I step into this role. I am honored and excited to have the opportunity to work with our talented leadership team and employees around the world to advance Hillenbrand’s profitable growth strategy,” said Ryan.