EnPro’s Chief Innovation Officer Jon Cox Announces Early Retirement

10/11/16

Charlotte-based EnPro Industries Inc. announced the early retirement of Chief Innovation and Information Officer Jon Cox, according to a filing with the Securities and Exchange Commission.

The manufacturing company filed an 8-K with the SEC on Oct. 11, which said Cox’s departure from EnPro had been finalized on Oct. 4. The filing also stated that EnPro hasn’t yet determined the exact terms of Cox’s retirement.

The Charlotte-based company is a manufacturer of proprietary engineered products, which are used in “critical applications,” such as sealing technologies, metal polymer and filament wound bearings.

EnPro operates manufacturing facilities in North America, South America, Europe and Asia, and the firm employs more than 5,000 people worldwide, according to its website.

EnPro promoted Cox, who was formerly the president of EnPro’s industries company Stemco, to chief innovation officer in early 2014. Stemco is based in Longview, Texas, and it manufactures and distributes products for the commercial vehicle market.

Cox had joined Stemco in 1996 as vice president of engineering, and he then joined EnPro’s Garlock Sealing Technologies unit in 1999. In 2008, Cox returned to Stemco as president.

According to EnPro’s latest quarterly earnings release, the company initiated an organization-wide cost reduction effort in the second quarter this year, with $20 million of estimated annualized savings. EnPro reported revenue of $313.20 million for the second quarter, compared to analysts’ estimates of $311.87 million.

EnPro’s stock, traded under the ticker symbol “NPO,” closed at $55.53 on Tuesday, down 73 cents, or 1.3 percent, for the day.

The complete 8-K form can be found here.

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