Angelo Pantaleo Will Assume Top Post at Marmon Holdings
CHICAGO--(BUSINESS WIRE)--Dec 17, 2018--Angelo V. Pantaleo will become Chairman and CEO of global industrial conglomerate Marmon Holdings, Inc., a subsidiary of Berkshire Hathaway Inc., effective January 1, 2019. His promotion was announced by Greg Abel, Vice Chairman of Berkshire Hathaway.
Pantaleo, currently President of Marmon Holdings, will succeed Frank S. Ptak, who as previously announced is retiring at the end of 2018 after leading Marmon for 13 years. “I am delighted to pass the Marmon baton to Angelo,” Ptak said. “He was my choice as successor and our friends at Berkshire wholeheartedly agreed. I expect him to build upon what we have accomplished together and take Marmon to the next level of success.”
Marmon Holdings comprises more than 100 autonomous manufacturing and service businesses whose diverse products range from railroad tank cars and platform trailers, to shopping carts and commercial beverage dispensers, to screws and work gloves. Marmon has operations in 23 countries, with about 20,000 employees and projected 2018 revenues of more than $8 billion.
Pantaleo joined Marmon in 1991 as president of the company’s industrial water filtration business and advanced to serve as group president over all of Marmon’s water treatment and consumer products businesses worldwide. During this period, he led numerous Marmon acquisitions in Asia, Europe, and North America. On his watch, Marmon Water earned the leading market share position at retail in North America and Europe, and became the fastest growing consumer water treatment company in China.
In 2014, Pantaleo was asked to lead the Berkshire Hathaway transition team responsible for integrating Duracell, a multi-billion-dollar global battery business, into Berkshire. Upon completion of the Duracell acquisition, Pantaleo become CEO of Duracell. He returned to Marmon as president in late 2017 with the announcement of Ptak’s planned retirement.
Before joining Marmon, Pantaleo spent 11 years in progressive roles with DuPont. He holds a B.S. in Chemical Engineering and an M.B.A. in Finance.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181217005475/en/
CONTACT: David Dees, VP Communications
Marmon Holdings, Inc.
KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS
INDUSTRY KEYWORD: BUILDING SYSTEMS MANUFACTURING OTHER MANUFACTURING PROFESSIONAL SERVICES FINANCE RETAIL CONSTRUCTION & PROPERTY OTHER RETAIL
SOURCE: Marmon Holdings, Inc.
Copyright Business Wire 2018.
PUB: 12/17/2018 10:03 AM/DISC: 12/17/2018 10:03 AM