CHARLOTTE, N.C. (Aug. 10, 2011)—Fred Sutter, president of Carlisle Companies Inc.'s Transportation Products business unit since 2008, has left the company and been replaced by Kevin Forster, who was president of Carlisle's Asia-Pacific region.
Concurrently, Carlisle disclosed it is setting up a Transportation Products unit headquarters in Franklin, Tenn., close to the tire plant it opened earlier this year in Jackson, Tenn.
Carlisle did not comment on Sutter's departure, disclosed in an 8K filing with the Securities and Exchange Commission. Sutter will receive one year's salary of $477,400, paid out in 12 equal installments, and will receive all stock bonuses accrued. He is “restricted in his ability to compete with the company,” the filing stated.
Forster has been with Carlisle since 1990, serving as president of the company's Asia-Pacific region unit twice, from September 1997-February 2008 and more recently since January 2009.