Crane Taps Operating Chief as New CEO, Raises Dividend

Dow Jones01-27

By Katherine Hamilton

Crane named a new chief executive and increased its dividend by 11%.

The industrial products manufacturer said Monday it named Alex Alcala as president and chief executive, effective April 27.

Max Mitchell, who has served as chief executive since 2014, will become executive chair.

Alcala is currently Crane's chief operating officer. He joined the company in 2013 as president of pumps and systems.

Crane also raised its dividend by 11% to 25.5 cents a share, up from 23 cents.

The new payout, equal to $1.02 per year, represents an annual yield of 0.49% based on Monday's closing price of $209.77.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

January 26, 2026 17:00 ET (22:00 GMT)

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