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Harsco CEO says new leadership needed after CFO resignation

By , - Last modified: November 16, 2012 at 10:21 AM

Harsco Corp. CEO Patrick Decker today said in a statement announcing the resignation of its chief financial officer that the global industrial services company needs to move forward under new leadership.

Stephen J. Schnoor, Harsco’s CFO, senior vice president and treasurer, resigned his positions effective today, according to the company. Barry E. Malamud, its vice president and corporate controller, has been named interim CFO while the company searches for a permanent replacement for Schnoor.

“We acknowledge with extreme gratitude his contributions to Harsco's long-term financial stability,” Decker said in the statement. “We recognize also that it is time to move forward under new leadership in this area as we shape the course of our renewed vision for Harsco as one of the world's premier industrial companies.”

Schnoor had been with Harsco since 1988 in various positions within the company’s financial departments. He added treasurer to his responsibilities in 2010 when the company reorganized its executive positions.

Schnoor’s departure is not the result of impropriety or misconduct, said Ken Julian, Harsco’s spokesman. The resignation was a mutual agreement that it’s time for a change at the company, he said.

Malamud, with Harsco since 1992, was promoted to vice president and controller in 2011.

Wormleysburg-based Harsco trades its shares on the New York Stock Exchange under the ticker symbol HSC.


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