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J. Don Brock will continue to serve as the Executive Chairman of Astec’s board of directors. Meanwhile, Richard J. Dorris will become the company’s Chief Operating Officer. W. Norman Smith, the company’s current President and COO will become Vice-Chairman of the board.
The date of the succession plan has yet to be determined but should be implemented by the end of fiscal year 2013.
J. Don Brock founded Astec in 1972, was the CEO and President for 40 years and has been the Chairman of the board since 1975. In August 2012 he resigned from the position of President.
“We are excited to see the progress of this management team,” J. Don Brock said in a prepared statement. “I am continuing to work as my health permits. Personally, I hope to mentor Ben and Rick for the foreseeable future and look forward to their active role in managing and running our Company.”