Carpenter Technology Corp. has announced its chief executive officer transition plan. The company’s board of directors has appointed Brian Malloy to the position of CEO, effective July 1.

Malloy currently serves as president and chief operating officer and will succeed Tony Thene as CEO. Thene will continue as executive chairman of the board for Carpenter, where he will guide strategy, maintain key stakeholder relationships and provide board leadership, the company said in a release announcing the transition.

Malloy said he looks forward to leading the company, continuing the same strategic vision he said has fueled the company’s growth.

“Together with our talented team, I am excited and committed to building on our momentum, further strengthening our leading position, and continuing to play a critical role in enabling the next generation of advanced technologies that our customers require,” Malloy said in a statement.

Thene said Malloy has a track record of delivering results across Carpenter’s businesses.

“In his 10 years at Carpenter Technology, he has been an integral part of Carpenter Technology’s growth, helping set the strategic direction and executing that vision,” he said in a statement.

Malloy has served as chief operating officer since 2023. In October 2025, he also took on the role of president and chief operating officer. During his time at Carpenter, Malloy has also served as senior vice president and group president of SAO and PEP, and as chief commercial officer.

Before joining the company, he was senior vice president and chief strategy officer at Ametek’s Global Precision Tubes business. Earlier in his career, he held key leadership positions at Alcoa Inc.

Malloy added that Thene’s strategic vision has reshaped the company “by building a culture of performance, strengthening our market position, and delivering meaningful value for all stakeholders.”

Steve Ward, lead independent director for Carpenter’s board of directors, said the board is proud of the strength and depth of its management team.

“Brian’s deep knowledge of our business and strong record of execution makes him the right leader to guide the company forward and advance our long-term strategy,” Ward said in a statement. “And Tony’s transition to executive chairman further ensures continuity and strengthens our strategic oversight.”

Founded in Reading in 1889, Carpenter is a leader in high-performance specialty alloy materials and process solutions in the aerospace and defense, medical, transportation, energy, and industrial and consumer markets. The company has evolved to become a pioneer in premium specialty alloys including nickel, cobalt, and titanium and material process capabilities. In 2016, the company relocated its corporate headquarters from Spring Township, Berks County, to Philadelphia.