— Actuant CEO Mark Goldstein has resigned from the diversified
industrial products maker less than two years into his tenure.
Chairman Robert Arzbaecher has been tapped for a return engagement
as CEO until a permanent replacement is selected.
Falls, Wisconsin, company said Tuesday that Goldstein left to
"pursue other interests" and did not elaborate. The
executive had joined Actuant in 2001 and became CEO in January
The man Goldstein
replaced, Arzbaecher, became CEO and president effective
immediately. The company's board will look at candidates from
inside and outside Actuant as it searches for Goldstein's
as president and CEO of Actuant from August 2000 until he retired
in January 2014.
businesses in a number of niche markets including branded
hydraulic tools, specialized products and services for energy
markets and position and motion control systems.
shares fell 20 cents to $20.79 in morning trading Tuesday, while
broader indexes advanced more than 2 percent.
stock had fallen 23 percent so far this year, as of Monday's
close, or nearly three times as much as the decline of the
Standard & Poor's 500 index.