Harsco Corp. has named F. Nicholas Grasberger president and chief operating officer, effective immediately.
Grasberger will continue as chief financial officer while the search for his successor is conducted. He will assume his new role "by mid-year 2014 once this process is complete," the Camp Hill-based Harsco said in a news release.
David Everitt, who has been serving as interim president and CEO since March 1, will continue as interim CEO until Grasberger takes that role.
"Since joining us last year, Nick has continually demonstrated his ability to be a driving force of positive change in our organization," said Henry W. Knueppel, chairman of Harsco's board of directors. "Nick co-authored the strategy we are executing; he has gained the respect of our organization and our key shareholders; and he has delivered on several significant objectives during his first year."
Grasberger has served as senior vice president and chief financial officer of Harsco since April 2013. During that time, he has had a hand in some of the company's key corporate initiatives, the release said, including a successful effort to create a joint venture with Clayton, Dubilier & Rice for the company's infrastructure business.
He also has been instrumental in Harsco's turnaround plans for its Metals & Minerals business, which focus on improving operating efficiencies, strengthening revenue growth opportunities, and enhancing its financial return profile, the release said.
"I am honored to be selected as the next president and CEO of Harsco," Grasberger said. "Over the past year, I have come to fully appreciate the considerable potential of this company to deliver significant value for our shareholders and enhanced service to our customers. I look forward to updating the market on our outlook this coming May during our first-quarter earnings call."
Grasberger has a nearly 30-year executive background in both finance and operations. Prior to joining Harsco, he served as the managing director of the multinational Precision Polymers Division of Fenner PLC, one of the world's leading producers of heavyweight belting for a range of industrial and commercial markets.
Before Fenner, he held senior executive positions at Armstrong Holdings Inc., the then-parent company of Armstrong World Industries, first as CFO and subsequently as the CEO of the company's Building Products division.
Grasberger was previously the CFO for Kennametal Inc. and the corporate treasurer and director of corporate planning at H. J. Heinz Co. He holds a bachelor's degree in business from the University of Notre Dame and a master's degree in business administration from the University of Pittsburgh.
Harsco announced that it has initiated a formal search process with a leading executive search firm for Grasberger's successor as CFO.