Ken Giacobbe Joins Carpenter Technology’s Board of Directors

Rhea-AI Summary

Carpenter Technology (NYSE: CRS) appointed Ken Giacobbe to its Board of Directors, effective August 11, 2026. Giacobbe is the former Executive Vice President and Chief Financial Officer of Howmet Aerospace and previously held senior finance roles at Arconic, Alcoa, Avaya and Lucent Technologies.

On August 11, 2026, Howard Yu informed the Board he will step down as director effective October 6, 2026, and Colleen Pritchett decided not to stand for re-election at the 2026 Annual Stockholders’ Meeting. The Board currently has 12 members (11 independent); after October 6, it will have 10 members (9 independent).

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PHILADELPHIA, Aug. 12, 2026 (GLOBE NEWSWIRE) -- Carpenter Technology Corporation (NYSE: CRS) announced today that Ken Giacobbe has been appointed to the Company’s Board of Directors, effective August 11, 2026.

“We are pleased to welcome Ken to Carpenter Technology’s Board of Directors,” said Tony R. Thene, Chairman, President and CEO of Carpenter Technology. “Ken brings extensive financial leadership experience from his tenure as Chief Financial Officer of Howmet Aerospace and its predecessor companies, along with deep knowledge of aerospace end markets, disciplined capital allocation, strategic portfolio transformation, and investor engagement. His perspective will be highly valuable as Carpenter Technology continues to execute its long-term growth strategy and deliver value for shareholders.”

Mr. Giacobbe brings more than three decades of finance and executive leadership experience across aerospace, advanced manufacturing and technology industries. He most recently served as Executive Vice President and Chief Financial Officer of Howmet Aerospace Inc., a leading global provider of advanced engineered solutions for the aerospace and transportation industries. Prior to Howmet, Mr. Giacobbe served as Executive Vice President and Chief Financial Officer of Arconic Inc. and held several senior finance leadership roles at Alcoa Corporation, including Chief Financial Officer of its Engineered Products and Solutions segment. Earlier in his career, Mr. Giacobbe held senior finance roles at Avaya and Lucent Technologies. He earned a Bachelor of Science degree in Business and Managerial Economics from the State University of New York College at Oneonta and a Master of Business Administration degree from the University of South Florida.

Other Changes to the Board of Directors

On August 11, 2026, Howard Yu notified the Board of Directors of the Company of his intention to step down as a Director of the Company, effective October 6, 2026, the date of the Company’s Annual Stockholders’ Meeting. In addition, Colleen Pritchett notified the Board on August 11, 2026 of her decision not to stand for re-election as a director of the Company at the Company’s 2026 Annual Stockholders’ Meeting.

“On behalf of the Board and the entire Carpenter Technology team, I want to thank Howard and Colleen for their dedicated service and meaningful contributions to the Company,” said Thene. “We wish them both continued success.”

Mr. Yu’s and Ms. Pritchett’s decisions were not due to any disagreement with the Company or its management regarding any matter relating to the Company’s operations, policies or practices.

With Mr. Giacobbe’s appointment, the Board of Directors currently consists of 12 members, 11 of whom are independent directors. After October 6, 2026, the Board will consist of 10 members, 9 of whom will be independent directors.

About Carpenter Technology

Carpenter Technology Corporation is a recognized leader in high-performance specialty alloy materials and process solutions for critical applications in the aerospace and defense, medical, transportation, energy, and industrial and consumer markets. Founded in 1889, Carpenter Technology has evolved to become a pioneer in premium specialty alloys including nickel, cobalt, and titanium and material process capabilities that solve our customers' current and future material challenges. More information about Carpenter Technology can be found at https://www.carpentertechnology.com

Investor Inquiries:	Media Inquiries:
John Huyette	Heather Beardsley
+1 610-208-2061	+1 610-208-2278
jhuyette@cartech.com	hbeardsley@cartech.com

FAQ

What board change did Carpenter Technology (NYSE: CRS) announce on August 12, 2026?

Carpenter Technology announced that Ken Giacobbe was appointed to its Board of Directors, effective August 11, 2026. According to Carpenter Technology, this expands the Board to 12 members and adds a director with extensive aerospace, advanced manufacturing, finance and investor engagement experience.

Who is Ken Giacobbe, the new director on Carpenter Technology’s board (CRS)?

Ken Giacobbe is a finance executive with more than three decades of leadership experience. According to Carpenter Technology, he most recently served as Executive Vice President and Chief Financial Officer of Howmet Aerospace and previously held senior finance roles at Arconic, Alcoa, Avaya and Lucent Technologies.

When will Howard Yu leave Carpenter Technology’s (CRS) Board of Directors?

Howard Yu plans to step down as a director on October 6, 2026, the date of Carpenter Technology’s Annual Stockholders’ Meeting. According to Carpenter Technology, his decision is not due to any disagreement regarding the company’s operations, policies or practices.

Why is Colleen Pritchett not standing for re-election to Carpenter Technology’s board?

Colleen Pritchett notified Carpenter Technology on August 11, 2026 that she will not stand for re-election at the 2026 Annual Stockholders’ Meeting. According to Carpenter Technology, her decision is not due to any disagreement with the company or its management.

How will Carpenter Technology’s (NYSE: CRS) board size and independence change in October 2026?

Carpenter Technology’s board currently has 12 members, 11 of whom are independent. According to Carpenter Technology, after Howard Yu’s departure on October 6, 2026, the board will have 10 members, including 9 independent directors, maintaining a majority of independent oversight.

What experience does Ken Giacobbe bring to Carpenter Technology’s (CRS) Board of Directors?

Ken Giacobbe brings extensive financial leadership and aerospace market expertise to Carpenter Technology’s board. According to Carpenter Technology, his background includes capital allocation, strategic portfolio transformation and investor engagement gained as CFO of Howmet Aerospace, Arconic and senior finance leader at Alcoa, Avaya and Lucent Technologies.