With a new chief executive having taken charge in the past few weeks, Pall Corp., of Port Washington, on Tuesday said it has a new nominee for a seat on its board of directors.
The candidate is B. Craig Owens, an executive with Campbell Soup Co., of Ohio. He would replace a retiring Pall director in a December election.
Owens, 57, is senior vice president, chief financial officer and chief administrative officer of Campbell. He also directs the soup company's corporate development, global supply chain and information technology.
Pall Corp. shares were up $1.15 to $48.96 in pre-market trading Wednesday.
With a market capitalization of $5 billion, Pall is one of Long Island's largest companies, and one of the world's purification and filtration giants. It has about 500 employees on Long Island and 10,400 others worldwide, producing systems to process water, blood, beer, wine, milk and other liquids.
It had income of $315.5 million on revenue of $2.74 billion in the past 12 months. While its price is up 15.6 percent in the past 52 weeks, Pall had seen its share price generally slide in recent weeks after it reported that, amid overall increases in sales and profits, the performance of its key industrial division lagged.
The chairman of Pall's board, Ronald L. Hoffman, said in a prepared statement Tuesday that Owens "has a strong background in business operations and finance as well as extensive experience in the food and beverage arena, a component of Pall's Life Sciences business." Owen's "experience and skills are highly complementary, and we look forward to his contributions for years to come."
Owens previously was executive vice president and chief financial officer with the Delhaize Group, a food retailer headquartered in Belgium with about 2,600 stores in seven countries and more than $26 billion in annual revenues, Pall said in its news release.
Owens was also in leadership positions with The Coca-Cola Co. and Coca-Cola bottlers.
Larry Kingsley, Pall's president and chief executive, said, “We expect to benefit greatly from his leadership skills, financial insight and significant expertise in strategic planning, business."
Pall Corp.'s longtime chief executive Eric Krasnoff quietly resigned this past month after the company was rocked by his disclosure of an extramarital “personal relationship” with a subordinate, the company's general counsel, Sandra Marino. The relationship was made public after Krasnoff's wife, Robin, filed for divorce.
Taking over the company's top posts was Kingsley, 48, who at the time of his selection was chairman of the board, president and chief executive of IDEX Corp., of Lake Forest, Ill.
Photo: The Pall Aria Pure System, used in Senegal to filter drinking water.
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