Kewaunee Scientific Corp. announced Monday that David M. Rausch is resigning as president, chief executive officer and a director of the company, effective immediately.
Thomas D. Hull III, who has served as chief financial officer since 2015, has been elected president and chief executive officer and appointed as a member of the board of directors to fulfill the term for the seat vacated by Rausch.
The Statesville-based company announced the moves in a news release.
Rausch served as president since 2012 and CEO since 2013. He joined Kewaunee in 1994 as a manager.
“Dave has been an integral part of our management and executive leadership teams for two-and-a-half decades, a period of tremendous change in the marketplace and growth for the company,” said David S. Rhind, chairman of the board of directors, in a news release. “We are extremely thankful to Dave for his years of steadfast dedication and many significant contributions to our success. Perhaps most importantly, Dave developed an exceptional management team, a legacy that will serve us well for many years.”
Hull will continue to serve as chief financial executive of the company until his successor is identified.
“Mr. Hull brings to the role of CEO his keen business acumen and astute market insight. These skills coupled with his deep financial expertise and knowledge of our company will make Tom an excellent chief executive,” Rhind stated in the release. “We see in Tom’s tireless diligence, strong leadership, and creative thinking a dynamic leader for our future. Since joining Kewaunee in 2015, Tom has played a critical role in developing and executing our strategic priority of operational excellence to support growth, and coalescing the management team around the strategy.
“Our board of directors unanimously and enthusiastically supports Tom as the established leader for this talented executive team as they continue to identify and act upon new opportunities for growth and profitability throughout our domestic and international operations.”