By Colin Kellaher
EnPro Industries Inc. Tuesday said Marvin Riley has stepped down as president and chief executive by mutual agreement with the board.
EnPro said Eric Vaillancourt, president of its sealing-technologies segment, will serve as interim president and CEO while the Charlotte, N.C., industrial-technology company searches for a successor.
EnPro said Mr. Riley, who had been president and CEO since July 2019, has also left the board, adding that his departure isn’t related to any disagreement with the board or members of management concerning corporate strategy or financials. The company said Mr. Riley is eligible for severance benefits that include two times his base salary and a prorated annual bonus.
EnPro said its board has hired a search firm to help identify a permanent president and CEO, adding that it will consider internal and external candidates.
Mr. Vaillancourt, 58 years old, joined EnPro in 2009 and has been president of the sealing-technologies segment since August 2020.
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View more information: https://www.marketwatch.com/story/enpro-industries-president-ceo-marvin-riley-leaves-npo-271627989872