RACINE, Wis. — Modine Manufacturing Co.’s board of directors has approved changes in several senior-level management positions. The action reflects Modine’s increased emphasis on strategic planning, financial discipline and operational excellence as ways to improve competitiveness and overall performance.
Thomas Cromwell, managing director, Commercial Products Group, has been promoted to vice president. The promotion is based on the global scope of Cromwell’s position and his leadership of the group, which has led to consistent, profitable growth. This change also reflects Modine’s focus on growing this segment and further diversifying its overall business model. Cromwell joined Modine in 1992 and has served in numerous operations and global management positions, including Automotive Operations manager in Europe, general manager of Modine’s Heavy Duty Business, general manager of Electronics Cooling and managing director of Commercial Products Group. He has a bachelor’s degree from the University of Wisconsin – Platteville and is finishing his MBA at the University of Wisconsin – Milwaukee.
Margaret Kelsey, formerly vice president, Finance, Corporate Treasury and Business Development, has been named vice president, Corporate Strategy and Business Development. In this new position, Kelsey will analyze and consolidate global product, brand, market, geographic and customer strategies to ensure that Modine’s financial and human resources are deployed in a manner that best supports the company’s overall strategy and vision. In addition, she will lead Modine’s annual and five-year planning processes and continue with her current responsibilities for business development initiatives, including acquisitions, divestitures and other similar activities. Kelsey joined Modine in 2001 as senior counsel. She was promoted to senior counsel and assistant secretary in 2002 and to her most recent role in 2006. Before joining Modine, she was a partner in the law firm of Quarles & Brady, LLP. She received her bachelor’s degree in history from Mount Mary College, a law degree from Georgetown University and an MBA from the University of Wisconsin – Milwaukee.
Robert Kampstra, corporate controller, has been promoted to vice president and corporate controller in recognition of his contributions to the finance function and overall level of accountability, which spans global financial controls and external reporting. Kampstra joined Modine in March 2006 and was promoted to corporate controller in July of that year. Before Modine, he held leadership positions with School Specialty and PricewaterhouseCoopers LLP. Kampstra has a bachelor’s degree with an emphasis in accounting from the University of Wisconsin – Whitewater and holds both Certified Public Accountant and Certified Management Accountant designations.
Michael Lucareli, formerly managing director, Financial Operations, has been promoted to vice president, Finance and Corporate Treasurer, replacing Kelsey. In this role Lucareli will assume the corporate treasurer role as well as responsibility for regional and product-based financial organizations. He joined Modine in 1999, serving in a variety of management positions, including director of Business Development and Corporate Communications and managing director of Financial Operations. Lucareli earned his bachelor’s degree in Economics from the University of Wisconsin – Madison and his MBA from Loyola at Chicago. He also holds a Chartered Financial Analyst (CFA) designation.
“These senior-level managers have contributed a great deal to Modine over the years and we salute their achievements,” said Thomas A. Burke, Modine President and Chief Executive Officer in making the announcement. “We are making these key leadership changes to strengthen critical areas and drive our company forward. Our team will play a larger role in our organization and help us focus our corporate strategy more effectively and provide the discipline and leadership we need to compete and grow in today’s challenging business environment.”
For more information about Modine, visit: www.modine.com.
