Dover Corp., which owns Warn Industries and Performance Motorsports among others, announced that Robert Livingston has been named CEO and elected to the board of directors, effective Dec. 1.
The company also announced that Ronald Hoffman, Dover’s current CEO, will retire Nov. 30. According to a company press release, these actions reflect an orderly management transition that was first announced by Dover in June of this year.
In the press release, Livingston said he’s excited to lead Dover in what will be a challenging economy. “Working with the executive management team, I am confident we can leverage our leadership position and drive significant synergies, delivering superior shareholder value through improved performance and strategic capital allocation initiatives.”
Hoffman said Livingston’s proven track record will serve the company well in the coming years. “I am very proud of the significant improvements my management team has implemented, which have resulted in meaningful positive changes to Dover's performance and competitive position. I leave Dover knowing that the company is on solid footing and in very capable hands.”
Livingston has been with Dover for 25 years and has been president and CEO since June.