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Rotork CEO to step down in 2022 and return to the United States

By Reuters

– British industrial group Rotork Plc said on Tuesday Chief Executive Officer Kevin Hostetler would step down from his position next year and return to the United States with his young family after more than three years in the role.

Rotork, which makes valve-automation equipment used in the oil and gas, power and nuclear industries, said Hostetler’s handover period would conclude by June next year, while the company has commenced a search for his replacement.

Separately, Rotork said it reinstated dividend payments on the back of improved results during the first half and higher orders.