Kennametal CEO’s take on simplifying production
In an interview conducted by CTE Editor Alan Richter, Kennametal Inc. President and CEO Ronald De Feo discusses the past year, the business outlook for Kennametal, Pittsburgh, the cutting tool industry and the company's modernization efforts.
Ronald De Feo became president and CEO of Kennametal Inc. in February 2016, after serving as chairman of the board and CEO of industrial equipment maker Terex Corp., Westport, Conn. He has been a Kennametal board member since 2001. In an interview conducted by CTE Editor Alan Richter, De Feo discusses the past year, the business outlook for Kennametal, Pittsburgh, the cutting tool industry and the company’s modernization efforts.
CTE: What are your reflections about your first year at the helm of Kennametal?
De Feo: I’m really proud of how our team has come together to deal with some of the challenges of our business. We’ve accomplished quite a bit, starting with changing the way we are structured as a company, changing our cost structure and delivering better products to our customers at lower costs and with greater reliability, while returning a little bit more money to our shareholders and providing a better place to work for our team members.
Ronald De Feo is president and CEO of Kennametal. Image courtesy of Kennametal.
CTE: How is the performance of Kennametal’s cutting tool business?
De Feo: We reported about a 4 percent organic growth rate for the last quarter, which is the first quarterly organic growth for cutting tools in well over 2 years. Overall, the company had 2 percent organic growth. I’m looking at a more positive trend and expecting better markets going forward.
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