ASTE - Astec Industries CEO Ruffalo steps down replaced by van der Merwe

Astec Industries ( NASDAQ: ASTE ) said Friday that Barry Ruffalo has stepped down as President and CEO effective immediately, to be replaced by current Infrastructure Solutions group president Jaco van der Merwe; no explanation was given for the move.

Van der Merwe joined Astec ( ASTE ) in 2016 as a Group President after spending 18 years at Atlas Copco, including President of Atlas Copco Mining and Rock Excavation in South Africa.

Ruffalo became Astec's ( ASTE ) President and CEO in August 2019 after spending four years at Valmont Industries, the last two as Group President of Global Engineered Support Structures.

Astec Industries ( ASTE ) reported record backlog in its most recent quarter, Chatool Investments writes in an analysis published on Seeking Alpha .

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