Raven Industries' Chief Financial Officer Thomas Iacarella, 60, is being named the company's Chief Risk Officer until his planned retirement in two years. Raven will now hold an extensive search for his successor as Chief Financial Officer.
"On behalf of the board and everyone at the company, I want to thank Tom for his 23 years of leadership, dedication, and contributions as CFO," said Daniel A. Rykhus, Raven's President and Chief Executive Officer. "Tom has played a significant role in the growth of Raven Industries--in terms of revenue, business evolution and helping build the infrastructure for a $400 million company. As he shifts to a new role, he leaves our finance function--and Raven--well positioned for the future."
Once his successor has been named, Iacarella will assume the position of CRO. In addition to ensuring a smooth financial leadership transition, Iacarella will focus on developing the company's Enterprise Risk Management (ERM) strategy and supporting Raven's active acquisition strategy.
Iacarella joined the company in 1991 as corporate controller and has been the company's CFO since 1998.