Money

Brian Malloy Appointed CEO of Carpenter Technology, Tony Thene Transitions to Executive Chairman

authorBy Vicki Robin

DateMar 14, 2026

Read time3 min

Carpenter Technology Corporation is undergoing a significant leadership change, with Brian Malloy stepping into the role of Chief Executive Officer, taking over from Tony Thene, who will assume the position of Executive Chairman. This transition, effective July 1, is set to leverage Malloy's extensive operational knowledge and Thene's strategic acumen to guide the company's future endeavors. The move underscores a commitment to continuity and strategic growth, building on a decade of expansion and market presence in specialty metals across various international regions. The company, known for its Specialty Alloys Operations and Performance Engineered Products segments, aims to strengthen its leadership and market position through this executive restructuring.

New Leadership at Carpenter Technology: Brian Malloy Takes the Helm

Carpenter Technology Corporation has announced a key executive transition, with Brian Malloy, the current President and Chief Operating Officer, set to become the new Chief Executive Officer on July 1. This appointment marks a significant moment for the specialty metals manufacturer, as it ushers in a new era of leadership while maintaining a connection to its established strategic direction. Malloy's promotion follows a decade of dedicated service and leadership within the company, where he has been instrumental in various senior roles, including Chief Commercial Officer and Group President for critical business segments. His profound understanding of the company's operations and market dynamics positions him as a natural successor to lead Carpenter Technology into its next phase of development and market expansion.

Brian Malloy's career path before joining Carpenter Technology included executive positions at leading industrial firms such as Ametek and Alcoa. In these roles, he developed a robust expertise in product leadership, specifically catering to the demanding sectors of aerospace, defense, and energy. This extensive background equipped him with a comprehensive understanding of complex industrial applications and customer needs, which he has effectively applied since becoming COO in 2023. His tenure as COO has been marked by deep involvement in strategic planning and operational excellence, ensuring that the company's long-term objectives are met with efficiency and innovation. The Board of Directors expressed confidence in Malloy's ability to drive the company's growth and uphold its legacy of performance, highlighting his proven track record and intimate knowledge of the business as critical assets for the CEO role.

Strategic Transition: Tony Thene to Executive Chairman Role

In a carefully planned leadership transition, Tony Thene, the outgoing Chairman and Chief Executive Officer of Carpenter Technology Corporation, will move into the role of Executive Chairman, effective July 1. This strategic shift allows Thene to continue contributing to the company's success by focusing on overarching corporate strategy and nurturing vital relationships with key stakeholders. His transition ensures that his valuable experience and insights remain accessible to the leadership team and the Board of Directors, providing ongoing guidance during this period of change. The role of Executive Chairman is designed to leverage Thene's deep institutional knowledge and strategic vision, ensuring a seamless handover and sustained strategic continuity as Brian Malloy assumes the CEO responsibilities.

Tony Thene's move to Executive Chairman is a testament to his decade-long impactful leadership at Carpenter Technology, during which the company experienced substantial growth and strengthened its market position. In his new capacity, Thene will play a crucial role in shaping the company's long-term strategic initiatives and maintaining strong ties with investors, partners, and other critical entities. This arrangement is expected to provide stability and strategic oversight, allowing the new CEO, Brian Malloy, to focus on day-to-day operations and execute the company's strategic plans. The Board of Directors emphasized that Thene's continued involvement in a strategic advisory capacity is invaluable, ensuring that Carpenter Technology benefits from his extensive experience and leadership as it navigates future opportunities and challenges in the global specialty metals market.

Ciena Corp. Pioneers Networking Innovations to Meet AI's Bandwidth Demands

Ciena Corporation has introduced advanced networking solutions, including hyper-rail photonics and 1600ZR/ZR+ coherent pluggables, to support the growing bandwidth needs of AI. These innovations aim to enhance network capacity, efficiency, and operational ease for hyperscale and service provider environments, featuring 2nm silicon technology and AI-driven automation.

By Chika UwazieMar 14, 2026

OPAL Fuels Secures New Capital for Growth and Expansion

OPAL Fuels has announced a new preferred stock facility worth $180 million from an affiliate of its primary shareholder, Fortistar. This funding initiative is set to significantly support the company's ambitious growth strategies, including the development of new renewable natural gas projects and the expansion of its fueling infrastructure. Approximately $100 million of the initial funds will be allocated to redeem Series A Preferred Units held by Mendocino Capital, LLC, a NextEra Energy, Inc. subsidiary, showcasing a strategic financial restructuring. The remaining capital will be utilized for general corporate purposes, including working capital, capital expenditures, and project-level financing, signaling a robust outlook for OPAL Fuels' operational and expansion endeavors.

By Bola SokunbiMar 14, 2026

RIN Price Decline Impacts Montauk Renewables' 2025 Performance

Montauk Renewables experienced a downturn in its 2025 financial performance, largely due to a significant decrease in average realized Renewable Identification Number (RIN) prices. Despite increased natural gas index pricing and higher RIN volumes sold, the company's revenue remained stagnant, while net income and operating income saw substantial reductions. This financial strain was exacerbated by elevated operational and maintenance expenses across its renewable natural gas facilities. For 2026, Montauk projects growth in both renewable natural gas and renewable electricity revenues, driven by an anticipated new project.

By Bola SokunbiMar 14, 2026

Cogent Biosciences: A Promising Biotech Investment for Billionaires?

Cogent Biosciences (COGT) is gaining attention as a potential top investment among billionaires. The company reported strong 2025 earnings and is making significant regulatory progress with its lead drug, bezuclastinib, for mastocytosis and gastrointestinal stromal tumors. With a solid cash position extending into 2028, Cogent is also expanding its pipeline with new selective inhibitors, positioning itself for future growth and continued innovation in precision therapies.

By Natalie PaceMar 14, 2026

Stem's Stock Target Reduced by UBS Despite Revenue Mix Improvement

UBS revised down its price target for Stem Inc. to $12 from $18, maintaining a Neutral rating. This adjustment follows a revised outlook for software sales and lower adjusted EBITDA forecasts for 2026-2028. Despite a 15% revenue decrease in Q4 2025 due to reduced battery hardware sales, the company saw a 62% rise in software, services, and edge hardware revenue. Stem achieved an improved non-GAAP gross margin and a narrowed net loss, along with positive full-year adjusted EBITDA.

By Ramit SethiMar 14, 2026