{"id":253226,"date":"2026-07-27T21:20:12","date_gmt":"2026-07-27T21:20:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-pa\/253226\/"},"modified":"2026-07-27T21:20:12","modified_gmt":"2026-07-27T21:20:12","slug":"new-ceo-of-philadelphia-steel-company-dies-suddenly","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-pa\/253226\/","title":{"rendered":"New CEO of Philadelphia steel company dies suddenly"},"content":{"rendered":"

Listen to article \u2022\u00a00:00 min<\/p>\n

Brian J. Malloy, chief executive officer of Philadelphia-based Carpenter Technology Corp., died \u201csuddenly and unexpectedly\u201d Friday, July 24, three weeks after he was promoted to run the company, which employs 4,500, Carpenter said in a statement.<\/a> He was 59.<\/p>\n

Malloy made \u201csignificant contributions\u201d to the growth of Carpenter, a 137-year-old, $3 billion-a-year company that makes stainless-steel alloys for aerospace, medical, military, and industrial uses at its plants in Berks County, western Pennsylvania and Alabama.<\/p>\n

\u201cWe are deeply saddened at Brian\u2019s passing,\u201d the company said. <\/p>\n

Tony Thene, Malloy\u2019s predecessor as CEO and executive chairman, has stepped back in to replace Malloy. <\/p>\n

Malloy had been scheduled to report recent results<\/a> to Carpenter\u2019s investors and discuss its prospects in a conference call Thursday. The call will go ahead on schedule. Shares fell about 4% to around $580 in trading Monday on word of the new CEO\u2019s death. <\/p>\n

The stock had been trading over $600, its highest ever,<\/a> for the past month, on the expectation that Carpenter would profit on higher U.S. military spending and new space orders. <\/p>\n

Malloy studied engineering at Virginia Tech and held an MBA from the College of William and Mary, as well as certifications in AI from Northwestern University and digital transformation from MIT. He is listed on five patents. <\/p>\n

He joined Carpenter in 2015, heading a unit that includes titanium products and powdered metals. In 2023, he was named chief operating officer before succeeding Thene as CEO when Thene retired earlier this month. <\/p>\n

Before joining Carpenter, Malloy was an executive at Berwyn-based Ametek and for Alcoa. <\/p>\n

Carpenter moved its headquarters to Philadelphia from Spring Township near Reading, the year after Malloy joined the company, one of several upstate Pennsylvania companies that moved to Philadelphia<\/a> in hopes of attracting management and technical talent. <\/p>\n","protected":false},"excerpt":{"rendered":"Listen to article \u2022\u00a00:00 min Brian J. Malloy, chief executive officer of Philadelphia-based Carpenter Technology Corp., died \u201csuddenly…\n","protected":false},"author":2,"featured_media":253227,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[108012,69,71,70],"class_list":["post-253226","post","type-post","status-publish","format-standard","has-post-thumbnail","category-philadelphia","tag-carpenter-technology-ceo-death","tag-philadelphia","tag-philadelphia-headlines","tag-philadelphia-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/253226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/comments?post=253226"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/253226\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media\/253227"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media?parent=253226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/categories?post=253226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/tags?post=253226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}