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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

 FORM 8-K

 CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 9, 2024
CRANE COMPANY
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
Delaware
1-41570
88-2846451
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
100 First Stamford Place
Stamford
CT
06902
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s telephone number, including area code: 203-363-7300
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, par value $1.00 CRNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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SECTION 5 – CORPORATE GOVERNANCE AND MANAGEMENT

Item 5.02Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 9, 2024, Crane Company (the “Company”) issued a press release announcing the promotion of Alejandro (Alex) Alcala to Chief Operating Officer, effective immediately. Mr. Alcala joined Crane in 2013 as President of Crane Pumps & Systems and was then promoted to President of Crane ChemPharma & Energy in 2014. In March 2020, he was promoted to Senior Vice President, overseeing Crane’s Process Flow Technologies segment as well as the Regional Presidents of China, India, and the Middle East & Africa. In February 2023, Mr. Alcala was promoted to Executive Vice President and assumed segment leadership responsibility for all of Crane’s businesses.

In connection with his promotion to Chief Operating Officer, Mr. Alcala’s annual base salary was increased by $55,000, resulting in a total annual base salary of $700,000. Mr. Alcala continues to be eligible to participate in all benefit plans applicable to the Company’s executive officers, with amounts and forms of awards determined by the Management Organization and Compensation Committee on an annual basis.

A copy of the Company’s press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01Financial Statements and Exhibits.
(a)  None
(b)  None
(c)  None
(d)  Exhibits
99.1   
104Cover Page Interactive Data File (embedded within the Inline XBRL document)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 CRANE COMPANY
December 9, 2024  
 By: /s/ Anthony M. D'lorio
  Anthony M. D'lorio
Executive Vice President, General Counsel and Secretary
  


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Exhibit 99.1

crane_logox245x100.jpg
    
                         Contacts:
                         Jason D. Feldman, SVP, Investor Relations,
Treasury & Tax
Allison Poliniak, VP Investor Relations
IR@craneco.com
                         www.craneco.com


Crane Company Announces Promotion of Alejandro (Alex) Alcala to
Chief Operating Officer


STAMFORD, CONNECTICUT – December 9, 2024 - Crane Company (NYSE:CR) (“Crane” or the “Company”), a premier industrial manufacturing and technology company, has promoted Alejandro (Alex) Alcala to Chief Operating Officer (COO), effective immediately. In this role, Alex will provide both strategic and operational oversight of all Crane business segments, as well as the Crane Business System organization.

Max H. Mitchell, Chairman of the Board, President and Chief Executive Officer of Crane Company said, “Since joining Crane more than a decade ago, Alex has been an instrumental partner to me, assisting with the strategic transformation of the company’s portfolio and capabilities in our successful delivery of profitable growth. His unique skill set of executing on large and complex initiatives, from acquisition integration to strategy formulation and execution, as well as driving operational and commercial excellence is unmatched. Alex has also consistently championed the core principles of our high-performance culture, grounded in the disciplined cadence and rigor of the Crane Business System while grounded in the core principles of the R.T. Crane Resolution of ethics and integrity. His promotion is yet another step in positioning our company for the significant growth we expect in the years ahead, as well as an example of our strong intellectual capital process focused on recognizing and promoting talent from within the organization.”

Alex Alcala added: “I’m honored and excited for the opportunity to take on this new and important role, along with our outstanding leadership and teams, and I look forward to continuing to drive differentiated strategic execution and accelerating both organic and inorganic growth to maximize total shareholder return.”

Alex joined Crane in 2013 as President of Crane Pumps & Systems and was then promoted to President of Crane ChemPharma & Energy in 2014. In March 2020, Alex was promoted to Senior Vice President, overseeing Crane’s Process Flow Technologies (“PFT”) segment as well as the Regional Presidents of China, India, and the Middle East & Africa. As Senior Vice President of PFT, Alex led the team to achieve record profitability and growth by repositioning the portfolio into higher-growth end markets. In February 2023, Alex was promoted to Executive Vice President and assumed segment leadership responsibility for all of Crane’s businesses. Prior to joining Crane, Alex had a successful career with Eaton Corporation holding operations and strategic marketing positions of increasing responsibility.






About Crane Company

Crane Company has delivered innovative and technology-led solutions to its customers since its founding in 1855. Today, Crane is a leading manufacturer of highly engineered components for challenging, mission-critical applications focused on the aerospace, defense, space and process industry end markets. The Company has two strategic growth platforms, Aerospace & Electronics and Process Flow Technologies. Crane has approximately 7,500 employees in the Americas, Europe, the Middle East, Asia and Australia. For more information, visit www.craneco.com.

Forward-Looking Statements Disclaimer

This press release contains forward-looking statements within the meaning of the federal securities laws. Any statements contained in this press release, except to the extent that they contain historical facts, are forward-looking and accordingly are based on management’s current assumptions, expectations, and beliefs. Forward-looking statements are subject to risks and uncertainties that could lead to actual results differing materially from those expected or implied. Risk factors are discussed in the Company’s filings with the Securities and Exchange Commission. Crane assumes no (and disclaims any) obligation to revise or update any forward-looking statements.

Source: Crane Company

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