CEO of The Brink’s Co. to retire in December
- November 14, 2011
Michael T. Dan plans to retire as chairman, president and CEO of The Brink’s Co. on Dec. 23.
Dan, 61, has served as president and CEO of the Richmond-based provider of secure transportation and cash management services since 1998. He has been chairman of the board since 1999. Dan joined the company in 1982.
Thomas C. Schievelbein has been named interim executive chairman for the rest of the year. On Dec. 24, he will become interim president and CEO.. Schievelbein, a member of the board of directors since 2009, is the retired president of Northrop Grumman Newport News, a former subsidiary of the Northrop Grumman Corp.
On Dec. 24, Murray D. Martin, currently lead director of the board of directors, will become non-executive interim chairman. Martin is chairman, president and CEO of Pitney Bowes Inc.
A search committee of three independent directors has been appointed to identify a permanent president and CEO.
The company’s initial outlook for 2012 calls for continued strong organic revenue growth in the mid-to-high single-digit percentage range with a segment profit margin of 6.5 to 7 percent.