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Posted 22 February, 2024

MSA Safety Inc appointed Steven C. Blanco as new CEO

NYSE:MSA appointed new Chief Executive Officer Steven C. Blanco in a 8-K filed on 22 February, 2024.


  On February 21, 2024, the Board of Directors (the "Board") of MSA Safety Incorporated (the "Company") elected Steven C. Blanco as Chief Executive Officer, to be effective May 10, 2024.  

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Overview of MSA Safety Inc
Industrial Goods • Precision Products
MSA Safety, Inc. engages in the development, manufacture, and sale of safety products, technology, and solutions. It operates through the following geographical segments: Americas, International, and Corporate. The Americas segment includes manufacturing, research, and development facilities in the U.S., Mexico, and Brazil. The International segment consists of companies in Europe, the Middle East, Africa, and the Asia Pacific region. The Corporate segment focuses on the general and administrative expenses incurred in its corporate headquarters. The company was founded in 1914 and is headquartered in Butler, PA.
Market Cap
$7.31B
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MSA Safety Inc by TradingView
Relevant filing section
Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers


(b) CEO Retirement, (c) CEO Appointment, and (d) Election of Director

On February 21, 2024, the Board of Directors (the "Board") of MSA Safety Incorporated (the "Company") elected Steven C. Blanco as Chief Executive Officer, to be effective May 10, 2024. The Board also elected Mr. Blanco as a director on the Board, effective immediately. His elections are part of a planned management succession and coincide with Nishan J. Vartanian's announcement to the Board on February 21, 2024, of his intention to retire as Chief Executive Officer in May 2024. Mr. Vartanian will continue as a director on the Board following his retirement. 

Mr. Blanco, age 57, has served as the Company's President and Chief Operating Officer since June 2023. Prior thereto, he served as Senior Vice President and President of MSA Americas from June 2022 to June 2023, as Vice President and President, MSA Americas from August 2017 to June 2022, as Vice President, MSA Northern North America from July 2015 to August 2017, and as Vice President of Global Operational Excellence from April 2012 to July 2015. 

Upon his assuming the role of Chief Executive Officer, Mr. Blanco will be entitled to the following:

-Annual base salary of $900,000.

-Participation in the Company's Executive Incentive Plan with a target annual incentive of 90% of annual base salary.

-Participation in the Company's Management Equity Incentive Plan ("MEIP") with target annual grant effective with the 2025 annual equity grants of $3,790,000.

Mr. Blanco received a grant on or about February 20, 2024, under the MEIP with a total value of $2,400,000. Mr. Blanco will continue to participate in all general employee benefit plans and programs as well as any plans and programs for executives.

Mr. Blanco is not expected to join the Audit, Compensation, or Nominating and Corporate Governance Committees of the Board, and he will not receive any additional compensation for his services on the Board beyond his compensation as an employee of the Company. His current employment compensation is set forth in the most recent Proxy Statement dated March 30, 2023, as supplemented by the Company's May 31, 2023, current report on Form 8-K.

There is no arrangement or understanding between Mr. Blanco and any other person pursuant to which Mr. Blanco was selected as an officer or director. There are no family relationships between Mr. Blanco and any of our directors or executive officers. Mr. Blanco has not had an interest in any transaction since the beginning of the Company's last fiscal year, or any currently proposed transaction, that requires disclosure pursuant to Item 404(a) of Regulation S-K.

The Company's press release announcing the changes is filed as an exhibit to this report.