Kewaunee Scientific Corporation (Nasdaq: KEQU) today announced the resignation of David M. Rausch as President, Chief Executive Officer, and a Director of the Company, effective immediately. Thomas D. Hull III, who has served as Chief Financial Officer of the Company since 2015, has been elected President and Chief Executive Officer and appointed as a member of the Board of Directors to fulfill the term for the seat vacated by Mr. Rausch.
Mr. Rausch served as President of the Company since 2012 and has also been its Chief Executive Officer since 2013. Mr. Rausch first joined Kewaunee in 1994 as a manager and rose to its highest office through his steady and successful leadership over twenty-five years with the Company.
‘Many significant contributions to our success’
“Dave has been an integral part of our management and executive leadership teams for two and a half decades, a period of tremendous change in the marketplace and growth for the Company,” said David S. Rhind, Chairman of the Board of Directors. “We are extremely thankful to Dave for his years of steadfast dedication and many significant contributions to our success. Perhaps most importantly, Dave developed an exceptional management team, a legacy that will serve us well for many years,” continued Mr. Rhind.
Board of Directors unanimously supports Tom Hull
“Mr. Hull brings to the role of CEO his keen business acumen and astute market insight. These skills coupled with his deep financial expertise and knowledge of our Company will make Tom an excellent chief executive,” said Mr. Rhind. “We see in Tom’s tireless diligence, strong leadership, and creative thinking a dynamic leader for our future. Since joining Kewaunee in 2015, Tom has played a critical role in developing and executing our strategic priority of operational excellence to support growth, and coalescing the management team around the strategy. Our Board of Directors unanimously and enthusiastically supports Tom as the established leader for this talented executive team as they continue to identify and act upon new opportunities for growth and profitability throughout our domestic and international operations.”
Mr. Hull will continue to serve as chief financial executive of the Company until his successor is identified.