13 WTHR - Indianapolis News |Modine Manufacturing's CFO, director set to depart
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RACINE, Wis. (AP) - Modine Manufacturing Co., which makes heaters and air conditioners for cars and trucks, said Monday that Bradley Richardson will step down as chief financial officer and a director, effective Nov. 13.
Richardson, 51, has accepted the CFO position at North Canton, Ohio-based ATM maker Diebold Inc., effective Nov. 23.
Modine said Robert Kampstra, current corporate controller, will assume the responsibilities of chief accounting officer. Kampstra will report to President and CEO Thomas Burke while the company initiates the process for identifying Richardson's successor.
Before joining Modine, Richardson spent 20 years at BP Amoco in a variety of senior financial and international operationalposts.
Diebold in March said Kevin J. Krakora stepped down as CFO after receiving a notice from the Securities and Exchange Commission about his role in the company's decision to restate financial reports. Diebold's corporate controller, Leslie A. Pierce, served as interim CFO.
Shares of Modine fell $1.07, or 10.4 percent, to close earlier at $9.23. Diebold shares fell 29 cents to finish at $29.95.
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