Robert Arzbaecher will retire as chairman and chief executive officer of Menomonee Falls-based Actuant Corp. in January.
But he won’t exactly be riding off idly into the sunset. During a recent conference call with analysts, Arzbaecher discussed his retirement plans and the transition to turning the Actuant CEO reins over to Mark Goldstein, who has been serving as president, chief operating officer and a director at the diversified manufacturer.
“I’m excited about transitioning CEO responsibilities to Mark and embarking on a new phase of my life. I have immensely enjoyed the tenure of Actuant CEO. Both professionally and personally, we’ve grown considerably since the spinoff in 2000. And even though I’m a relatively young guy, I started as CEO at the age of 39, and 14 years at the helm is enough for me. I’ve increasingly been involved in several not-for-profit and educational organizations here in Milwaukee and want to devote significantly more time and energy to these causes,” Arzbaecher said. “Mark has been COO since 2007. The transition has been in the works for some time now and was very well planned by the board of directors. I am sure many of you have noticed Mark spending more time on the road with investors and increased involvement in earnings calls, which is all part of his development as my successor.”
Arzbaecher plans to continue to reside in Brookfield with his wife, Amy.
He will be a co-chair of the 2014 fund drive for the United Performing Arts Fund (UPAF) of Greater Milwaukee. He also is actively involved in the Zilber Neighborhood Initiative, FirstStage and the Hmong American Peace Academy library project.
Goldstein said, “Let me first say that I am humbled and honored to be given the opportunity to lead the Actuant organization and know that I have big shoes to fill. Since 2001, I’ve had the pleasure of working alongside Bob, chief financial officer Andy (Lampereur) and the rest of our talented team. This, along with a well-planned transition, will enable me to hit the ground running.”
