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CEO of steel company dies suddenly, just weeks after taking helm

By Sophia Compton
FOX Business
Business
Published July 31, 2026 7:10 AM MST
Published July 31, 2026 7:10 AM MST

Carpenter Technology CEO Brian Malloy died suddenly just weeks after taking the helm of the specialty materials manufacturer, the company announced Monday.

Malloy, who became president and CEO July 1, died "suddenly and unexpectedly" Friday, July 24, according to a news release from the Philadelphia-based company. 

A cause of death was not disclosed.

"We are deeply saddened by Brian’s passing," Carpenter Technology’s board of directors said in a statement.

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"Over the past decade, Brian made significant contributions to Carpenter Technology and was a respected leader with a strong commitment to performance, operational excellence, and the Company’s long-term success," the board added. "We extend our deepest sympathies to Brian’s family and loved ones during this difficult time."

The board appointed Executive Chairman Tony Thene to return as CEO, effective immediately. Thene, who led Carpenter Technology from 2015 through June 2026, will also remain chairman.

Malloy spent a decade at Carpenter Technology and had served as chief operating officer since 2023.

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When the company announced Malloy’s appointment in February, Thene called him a "proven leader" with "deep operational experience" and a track record of delivering results across the company’s businesses.

Malloy said at the time that he was "honored" to be selected as the company’s next chief executive.

"I am honored to be named the next CEO of Carpenter Technology," Malloy said in February. "Tony’s strategic vision has reshaped Carpenter Technology by building a culture of performance, strengthening our market position, and delivering meaningful value for all stakeholders."

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In this photo illustration, a smartphone displays the logo of Carpenter Technology Corporation (NYSE: CRS), a U.S. specialty metals manufacturer producing advanced materials and engineered products for aerospace, defense, medical and industrial appli

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Before joining Carpenter Technology, Malloy held senior leadership roles at Ametek and Alcoa.

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A Carpenter Technology spokesperson told FOX Business the company would not comment further "out of respect for the privacy of the family."


 


 



 

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