SPX appoints executives as company officers in advance of split – Charlotte Business Journal (blog)

SPX building - Ballantyne

The new SPX officers include Gene Lowe, who is slated to be chief executive of one of the two companies that will be created in next year’s spin-off.

Senior Staff Writer- Charlotte Business Journal

SPX Corp. (NYSE:SPW) has appointed four executives as company officers as it positions itself to spin off its dominant flow technology business into a standalone company late next year.

The four are not taking new positions. But they have been appointed officers of the company by SPX’s board of directors. They include Gene Lowe, who will become the CEO of the SPX infrastructure company, which will focus on products for the power industry. For now, he retains his title as president of thermal equipment and services.

The other three named as officers work for the flow segment. They are Marc Michael, president of flow food and beverage division; Tony Renzi, president of the flow power and energy division; and David Wilson, president of the flow industrial division.

Expanded roster

The appointments expand the roster of executive officers at the company to 10.

SPX announced in October that it would spin off its flow operations. SPX has not yet decided what names will be taken by the two new companies created from the spin-off, but it says both will have their headquarters in Charlotte.

Lowe will run the infrastructure company, and current SPX CEO Chris Kearney will be CEO of the flow company. Other executive officers have not been named yet, but it appears likely the new appointees will have officer positions in the new companies.

John Downey covers the energy industry and public companies for the Charlotte Business Journal.

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