Twin Disc, the power transmission equipment maker, said today that its board elected company veteran John Batten as its next president and CEO.
Current chairman and CEO Michael Batten will retire as an employee this year after spending 30 years as the head of the company, according to the Associated Press. He will stay on as non-executive chairman.
John Batten, 47, will become CEO on Nov. 1, the company told the AP. He began working at the Racine, Wis.-based company in 1996 as an application engineer. Most recently, he was Twin Disc's chief operating officer.
Michael Batten, 73, will retire as an employee on Dec. 31, and continue to be a non-executive chairman of the board of directors. He has been CEO of the company since 1983 and first joined Twin Disc in 1970.
The company’s shares finished at $21.64 on Monday.