Cardone Industries, a family-owned auto parts manufacturer based in Philadelphia, has named Kevin Cramton as its new CEO,
the
Philadelphia Business Journal
reported.
Cramton replaces Michael Cardone Jr., who will continue to serve as the company’s chairman.
Cramton is the former CEO of Revstone Industries LLC, an auto components maker in Southfield, Mich.
Cardone Industries had agreed to sell its North American operations to private investment firm TPG, but both parties called off the deal earlier this year, the journal report noted. (Source:
Philadelphia Business Journal,
Aug. 23, 2012.)
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