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Akanksha Bakshi

Barnes Picks Director Thomas Hook To Succeed Patrick Dempsey As CEO

  • Barnes Group Inc. (NYSE:B) Board has appointed Thomas J. Hook as its President and CEO, effective July 14, 2022.
  • Patrick J. Dempsey, who began a leave of absence on March 8, 2022, from his position as President & CEO due to personal reasons, will transition to the newly created role of Executive Vice Chairman until his retirement on December 31, 2022.
  • Dempsey is expected to continue serving as a board member.
  • Interim CEO Julie K. Streich will remain in that position through July 13, 2022, and continue to serve as the company's SVP, Finance and CFO thereafter.
  • Thomas Hook, named a Barnes Group Director in 2016, currently serves on the Audit Committee and Corporate Governance Committee.
  • Hook will step down from his current position as CEO and director of SaniSure, Inc. in July 2022.
  • Price Action: B shares are trading higher by 2.50% at $32.45 on the last check Tuesday.
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