Regal Rexnord Corporation (NYSE: RRX) has announced the appointment of Mark Klossner as Executive Vice President and President of its Industrial Power Transmission Solutions (IPS) segment, effective immediately.
Klossner succeeds Jerry Morton, who is retiring after 11 years of service with the company.
Morton will continue in his role as Executive Vice President until his retirement on December 31, 2026, to ensure a smooth leadership transition.
This promotion is part of the company's structured internal succession planning.
Klossner joined Regal Rexnord in March 2023 through the acquisition of Altra Industrial Motion, initially serving as Senior Vice President and General Manager of the Couplings division.
In June 2024, he was promoted to Group President of the Couplings and Gearing business, overseeing a portfolio of approximately $1.4 billion.
Prior to joining the company, Klossner spent 19 years at Altra Motion, where he held the positions of President of the Gearing division and President of the Couplings division.
He holds an MBA from Northwestern University's Kellogg School of Management and a Bachelor of Science in Materials Science and Engineering from Cornell University.
Regal Rexnord CEO Louis Pinkham stated, "Mark brings a powerful combination of operational rigor, strategic vision, and deep product and industry expertise to this role. I am confident Mark will continue this momentum, leading the Industrial Power Transmission Solutions business into its next phase of profitable growth."
Klossner commented, "I am honored to take on this role and excited about the opportunities ahead. Industrial Power Transmission Solutions has a strong foundation, including an unmatched product and market presence in the segments it serves."
Pinkham added, "On behalf of the entire Regal Rexnord team, I thank Jerry for decades of leadership, dedication, and impact. He played a key role in positioning the company for long-term success, and his influence will be felt for years to come. We wish Jerry and his family a wonderful retirement."
Previously, the company announced the appointment of Aamir Paul as its next Chief Executive Officer, expected to be effective no later than July 1, 2026.
Paul previously served as President of Schneider Electric North America.
Regarding first-quarter performance, the company reported net sales increased by 4.3% to $1.4791 billion, with average daily order rates up 8.5% year-over-year.
Net sales for the Industrial Power Transmission Solutions segment grew 5.8% to $648.2 million, with organic growth of 2.8%, showing broad-based strength, particularly in the general industrial market.
The segment's adjusted EBITDA margin was 25.0% of net sales.
The company reaffirmed its full-year 2026 adjusted earnings per share guidance of $10.20 to $11.00.