SPX Announces Changes to Senior Leadership Team

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Compliance : Sarbanes Oxley : People

SPX Announces Changes to Senior Leadership Team

Christopher Kearney
President and CEO
SPX

SPX Corporation has announced that its Board of Directors has appointed Christopher J. Kearney as President and Chief Executive Officer following the resignation of company Chairman, President and CEO John B. Blystone.

Additionally, the Board has appointed Jay Caraviello and Thomas J. Riordan as Executive Vice Presidents and co-Chief Operating Officers of the company. Patrick J. O?Leary will continue as Chief Financial Officer and Treasurer, and has been promoted to Executive Vice President. Robert B. Foreman will continue as head of Human Resources and has been promoted to Senior Vice President. The Board has separated the position of chairman and chief executive officer, appointing director Charles E. Johnson II as Chairman of the Board.

Commenting on the changes, Mr. Johnson said, "Chris Kearney has been a key member of our management team for almost eight years. He has been at the forefront of the company?s efforts to become a leader in open, responsive and effective corporate governance and in creating and executing the company?s overall business strategy. Together with Jay Caraviello, Bob Foreman, Patrick O?Leary and Tom Riordan we have an excellent team to lead the company?s future growth and enhance shareholder value."

Mr. Kearney joined SPX in February 1997 as Vice President, Secretary and General Counsel. He joined the company from Grimes Aerospace Company where he was Senior Vice President and General Counsel. His background also includes positions at Borg-Warner Chemicals as Senior Attorney and Senior Counsel at General Electric?s global materials business. He is a graduate of the University of Notre Dame and received his law degree from DePaul University Law School.

Mr. Caraviello joined SPX Corporation in 1997 at the Service Solutions business. He also held positions as President of the company?s Lightnin business and Bran & Luebbe before being named President of SPX?s Cooling Technologies and Services business in March 2002. Mr. Caraviello was elected an officer of SPX in February 2003. Prior to joining SPX, he spent fifteen years with General Electric. He holds a Bachelor of Science degree in Business Administration from the University of Massachusetts Business School and a Masters of Science degree in Management from Purdue University.

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