Carpenter Technology Corporation (NYSE: CRS) announced that Brian Malloy, the company's President and Chief Executive Officer, died suddenly and unexpectedly on July 24, 2026.

The company's Board of Directors issued a statement saying: "We are deeply saddened by Brian's passing. Over the past decade, Brian made significant contributions to Carpenter Technology and was a respected leader with a strong commitment to performance, operational excellence, and the Company's long-term success."

The Board has appointed Tony Thene, the company's Executive Chairman, to return as Chief Executive Officer effective immediately. Thene previously served as CEO of Carpenter Technology from 2015 through June 2026. He will continue to serve as Chairman alongside his reinstated role as CEO.