Davis-Standard CEO Bob Preston to step down

Extrusion equipment manufacturer Davis-Standard LLC is about to go on the hunt for a new CEO.

Bob Preston, the current CEO of the Pawcatuck, Conn.-based company, is resigning effective Nov. 18. He will remain vice chairman of Davis-Standard’s board of directors.

According to a Davis-Standard press release, Preston is becoming chairman and CEO of an undisclosed materials company headquartered in the southwestern U.S.

Preston became CEO of Davis-Standard in December 2011.

After Nov. 18, and until a new CEO can be found, Davis-Standard’s daily operations will be managed by an Office of the President, consisting of Mike Pisch, CFO; Todd Pearson, vice president global operations; and Jim Murphy, vice president of global sales and marketing.

Davis-Standard is owned by Oncap, the mid-market private equity platform of Toronto-based private equity firm Onex Corporation.