The Manitowoc Company Announces Departure of Lawrence J. Weyers
The Manitowoc Company, Inc. (NYSE: MTW) announced that after more than 20 years of service to The Manitowoc Company (the
“Company”), Lawrence J. Weyers provided notice to the Board of Directors of the Company (the
“Board”) of his desire to leave the Company, effective August 31, 2017. Mr. Weyers currently
serves as Executive Vice President, Tower Cranes, and has held various other executive management positions since joining the
Company in 1998. “The Board and I thank Larry for his strong leadership over the many years with Manitowoc. We are particularly
appreciative of Larry’s service where he has been instrumental in building the Company and will remain as a good friend of
Manitowoc,” stated Barry L Pennypacker, President and CEO.
“With Larry’s departure, Aaron Ravenscroft will become our new Executive Vice President of Cranes and will be based out of our
Dardilly, France facility. In addition, we will continue to take actions to flatten our organizational structure to improve our
competitive position in the marketplace while enhancing our ability to exceed customer expectations with innovative products and
services,” concluded Pennypacker. Mr. Ravenscroft currently serves as the Company’s Executive Vice President, Mobile Cranes.
About The Manitowoc Company, Inc.
Founded in 1902, The Manitowoc Company, Inc. is a leading global manufacturer of cranes and lifting solutions with
manufacturing, distribution, and service facilities in 20 countries. Manitowoc is recognized as one of the premier innovators and
providers of crawler cranes, tower cranes, and mobile cranes for the heavy construction industry, which are complemented by a slate
of industry-leading aftermarket product support services. In 2016, Manitowoc’s net sales totaled $1.6 billion, with over half
generated outside the United States.
The Manitowoc Company, Inc.
Ion M. Warner
VP, Marketing and Investor Relations
717-593-5266
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